Sunday, September 24, 2023

Radio & Podcast News – Stingray records $8.5M Q4 loss as pandemic revenue impact felt

Infinite Dial Canada, the third Canadian edition of the longest-running study of consumer media behaviour in the U.S., was released last Thursday by Edison Research and Triton Digital. Based on pre-pandemic data, among this year’s findings are that Canada is leading monthly audio online listening, 18+, with 70% of Canadians saying they had streamed audio in the past month, whether it be a podcast, music, or radio station. That compares to 67% of Americans, with Canada also leading Australia, South Africa and Germany. The study indicates that streaming audio is becoming more habitual for Canadians with 60% saying they had listened to online audio in the last week. Tom Webster, SVP of Edison Research, says the introduction of unlimited data plans by Canada’s top three mobile carriers has had a significant impact on the growth of online data consumption. Read more here.

StingrayStingray has recorded an $8.5 million quarterly loss as its Radio division feels the impact of COVID-19. Q4 revenues, reflecting the quarter ended Mar. 31, were down 6.0% to $68.4 million from $72.7 million. Radio revenues decreased $4.1 million or 12.0% to $29.9 million from $34.0 million for Q4 2019. Total Broadcasting and Commercial Music revenues decreased $(0.2) million or 0.6% to $38.5 million, from $38.7 million in Q4 2019. The decrease was primarily due to the termination of some low margin international contracts, partially offset by organic growth in subscriptions. “Our fourth quarter results reflect some impact of COVID-19. The Radio segment was partially hit during the quarter and revenues continued to decline in April and to a lesser extent in May. Considering the initial impact of COVID-19 on Radio revenues, we are pleased with our consolidated fourth quarter results as Adjusted EBITDA increased 25.9% to $28.2 million,” stated Eric Boyko, President, Co-founder, and CEO. For the full-year, Stingray revenues were up $94.0 million or 44.2% to $306.7 million, from $212.7 million.

Radioplayer Canada launches Version 5 of the app Thursday designed to improve overall listener user experience. New in-app features include: a new user interface; a “Favourites” carousel to make finding presets easier; ability to share what you’re listening to with friends by sending a link that automatically opens the Radioplayer app and immediately streams that station; simple voice control (stop, pause, play); and deeper Apple Car Play integration. The new Radioplayer Canada app is available for download now in the App Store, the Google Play Store, and the Amazon Appstore for Android. Read more here.

99.3 County FM (CJPE-FM) Prince Edward County is partnering with the Hastings and Prince Edward School Districts to broadcast Grade 8 graduation ceremonies. The 80-minute broadcast will begin at 12:10 p.m. on June 23 and repeat at 6:10 p.m. that evening. The event will feature messages from local trustees, principals, and one graduating student from each school. 

LISTEN: The latest Sound Off Podcast features Jillene Khan, afternoon host on Magic 98 in Madison, Wisconsin. Her radio story is rooted in Minneapolis and she’s an ideal guest to bring on at a time when many people in her hometown are struggling with the death of George Floyd at the hands of Minneapolis Police.

Eric Blais

FEATURE: Eric Blais’ latest Rethinking Media column explores proactively navigating “The New Normal.” Read more here.


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