Radio broadcasters, be warned. On-demand audio giant Spotify is rolling out a new advertising format that enriches podcasting by giving listeners a series of “Call-to-Action Cards” allowing them to learn more about an audio ad they hear.
It’s yet another opportunity for the audio industry, so long as legacy broadcast companies in the digital space follow suit.
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TORONTO — The owner of such radio stations as “Boom 97.3” in Toronto and “Live 88.5” in Ottawa, which has a presence in the U.S. via its audio channels found on such MVPD service providers as Hotwire, has finalized the approximately $46,642,450 USD acquisition of the largest in-store audio advertising network in the 50 states.
As a result, Stingray, based in Montréal, is now the owner of InStore Audio Network.
That’s the Gary Seem and Jeff Shapiro-led entity sold by Pop Radio LP for $59 million CDN.
Serving as the broker in the transaction is Richard A. Foreman and Associates.
InStore says it reaches some 100 million shoppers each week in more 16,000 grocery retailers and pharmacies across the U.S., including CVS, Rite Aid, Albertsons, Safeway, Southeastern Grocers (Winn-Dixie), Ahold (Food Lion, Giant, Hannaford and Stop & Shop), Western New York-focused Tops Markets, Pennsylvania Dutch Country favorite Weis Market and Brookshire’s, with more than 180 stores operating in Texas, Louisiana, Arkansas, and Oklahoma.
The total price paid by Stingray is subject to a specific earn out mechanism set forth in the purchase agreement.
“With this acquisition, Stingray expands its retail-based digital audio advertising footprint in the United States and reaffirms its position as a leading global provider of state-of-the art digital media solutions,” Stingray says.
InStore will continue until the continued leadership and direction of its current management team, Stingray says.
— Carina Newton, in North York
NEW YORK — He’s been the U.S. chief revenue officer since January 2020, and joined FreeWheel in 2018.
Now, he’s succeeding Dave Clark as General Manager at the Comcast-owned premium TV marketplace for buyers and sellers.
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The company’s stock went ex-dividend on November 10. Its five-year growth trend is excellent, even when factoring in the COVID-19 stock dips seen nearly two years ago.
Nexstar Media Group is enjoying another rise in its share price, with activity on Friday signaling a finish at a level last seen in November, when shares briefly topped the $170 mark.
Is NXST en route to quickly matching and perhaps surpassing that price?
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DOBBS FERRY, N.Y. — It’s a joint venture that includes Optimum owner Altice USA, Spectrum owner Charter Communications and Xfinity parent Comcast designed to bring national brands TV and digital advertising opportunities in the nation’s top DMA, New York.
And, it now has an agreement with the nation’s dominant audience measurement and consumer data analytics provider.
New York Interconnect has signed a multi-year agreement for local TV measurement in the New York DMA with Nielsen.
NYI covers the entire Tri-State Area, ensuring DMA-wide advertising opportunities, given the specific geographic territory for Altice USA, Comcast and Charter. Altice USA dominates in Westchester County and parts of Long Island; Charter, through its Time Warner Cable acquisition, is a near-monopoly in the City of New York and in the Mid-Hudson Valley; Comcast is the leader for MVPD services in Northern New Jersey.
The deal will see NYI take Nielsen’s data to evaluate the daily performance of its campaigns and the cable networks it represents, as well as calculate TV campaign reach and frequency at the DMA level. New York Interconnect also has licensed Nielsen Ad Intel, a source of local and national advertising spend.
LAS VEGAS — It’s full speed ahead for the National Association of Broadcasters and the 2022 NAB Show in late April, scheduled to be the second big conference in a city battered by COVID-19 still suffering from CES 2022 cancellations and lighter-than-anticipated attendance.
That’s the official word from NAB President/CEO Curtis LeGeyt, who was in attendance at an invitation-only Radio Reception on Thursday evening at the Bellagio Hotel & Casino co-presented by RBR+TVBR and Radio Ink.
“We’ve got great feedback from our core exhibitors that they’re anxious to be back in person,” LeGeyt said in an exclusive interview with Streamline Publishing’s RBR+TVBR and Radio Ink. “People really lamented the timing with what happened with the October show. Listening to all the latest health and safety information, there’s a lot of optimism around April. There’s pent-up demand. We are pacing extremely well in terms of the exhibitor interest in our show. I think we will knock it out of the park in April. The biggest takeaway from here is a reduced attendance does not mean a diminished value for the exhibitors who rely so much on these shows. If you can get the right attendees, it’s quality over quantity. That’s our emphasis between now and April.”
Speaking with RBR+TVBR and Radio Ink at the reception, LeGeyt shared that he was taking notes and observing how the Consumer Technology Association made adjustments across CES 2022 to adapt to the Omicron variant of the COVID-19 virus. More importantly, LeGeyt was in attendance to converse in person with radio executives attending the event in his first official in-person role since succeeding the NAB’s top leadership position from now-retired former U.S. Senator Gordon Smith.
“The biggest takeaway from here is a reduced attendance does not mean a diminished value for the exhibitors who rely so much on these shows. If you can get the right attendees, it’s quality over quantity.” — NAB President/CEO Curtis LeGeyt
Speaking to those in attendance at the Radio Reception, LeGeyt shared his pleasure in seeing key broadcast industry leaders — including newly appointed Salem Media Group CEO Dave Santrella and Beasley Media Group CEO Caroline Beasley — in Las Vegas for CES 2022. In particular, LeGeyt was pleased that the radio industry leaders understand the importance of the partnership with the consumer electronics industry, especially the auto manufacturers, who took a major spotlight this year. Among the head-turners, aside from autonomous vehicles, was a color-changing BMW. “That’s one that both sides are investing in in a tangible way,” LeGeyt told those in attendance. “It recognizes we need to be at forefront of everything that’s going on in the automobile, the home and broadcasters are embracing that challenge.”
For some 20 years, automotive brands have used CES as a springboard for important events such as the L.A. Auto Show and similar gatherings in Detroit, New York and Miami Beach. In-dash technology gets the spotlight in Las Vegas, however, and with dashboards resembling iPads these days, the radio industry needs to consistently demonstrate it is doing whatever it takes to be an important partner while giving consumers the content they desire. That’s why LeGeyt is excited about what he’s seeing from the auto manufacturers.
“It’s very clear that radio is a present piece of that conversation,” LeGeyt said. “When you talk about consumer electronics the focus from the media can be around the streaming services, SiriusXM. What’s evident to me is there’s a real desire from consumers to have a seamless access to broadcast radio and that the car manufacturers understand that and are focused on it. That’s why you have such a radio presence from a broadcast perspective out here.”
The NAB Show will be held in Las Vegas from April 23-27. Details HERE.
Edward G. Atsinger III has transitioned from CEO to executive chairman of the board of directors at Salem Media Group, a move that was announced in late December.
David Santrella becomes CEO, promoted from president of broadcast media. David Evans moves up from president of digital media and publishing to COO.
Chairman Stuart W. Epperson has resigned, and Stuart W. Epperson Jr. joins the board.
“These changes reflect the board’s ongoing succession planning and are designed to provide leadership continuity as the company continues to execute its strategic initiatives,” the organization stated.
Edward G. Atsinger IIISalem said Atsinger “will continue to be engaged full-time and focus more of his attention on macro strategy and planning, M&A, external relationships, government affairs and leadership development.”
“Since founding Salem in 1974, Mr. Atsinger, along with his brother-in-law Mr. Epperson, has grown the company from a single radio station into America’s leading multimedia company specializing in Christian and conservative content,” it stated. “He has been a driving force in Salem’s mission to serve the company’s audiences nationwide with content that is unavailable through mainstream media channels.”
The post At Salem Media, an Orderly Transition appeared first on Radio World.
It’s a newly created position for Patrick Butkus, who was most recently Director of Acquisition Marketing at Discovery streaming products discovery+ and GOLFTV. He’ll be responsible for building and enhancing recognition of the Acast brand, products and services globally.
Lizzy Pollott, Acast’s SVP Marketing Communications and Brand, said, “Pat is a really important addition to our growing global marketing team, and will allow us to get the Acast brand in front of thousands more creators, listeners and brands, all around the world.
Butkus added, “The name ‘Acast’ is one I’ve heard more and more over the past couple of years, and it’s easy to see why it’s become such a high-profile player in the creator economy — this is an innovative, ambitious podcast company with the leadership and vision in place to become the world leader. I’m looking forward to playing my part in making that happen.”
WASHINGTON, D.C. — Lerman Senter has added a Member to the firm, and it is a woman who first joined the communications, technology and media-focused PLLC on L Street NW in April 2020 as Counsel.
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