Industry News Bits Tue 5-10-22

Fundraisers this week .. WGTS/Wash DC .. WAYR/Brunswick, GA .. 

Capitol CMG artist and songwriter, Anne Wilson, has just landed her first career RIAA Gold Certification for her hit single, “My Jesus.” The single, which also earned her a Billboard Music Award nomination for “Top Christian Song” at this year’s show, was the longest-running No. 1 song on the Billboard Christian Airplay Chart of 2021 at seven weeks and made her the first female artist to top the chart with a debut single

“The moment that Hudson and Brad surprised me with the news that ‘My Jesus’ had officially been certified Gold is a moment I’ll never forget for the rest of my life,” says Anne Wilson. “I’m so unbelievably thankful that Jesus is using this song to touch so many lives. All Glory to God!”

(L-R: Hudson Plachy, CCMG Co-President, Anne Wilson, Brad O’Donnell, CCMG Co-President; Photo Credit: Anna Moos)

GMA members are invited to participate in the 53rd Annual GMA Dove Awards Professional Member Submission Round, opening today.

Deadline to complete your submissions is Tuesday, May 17, 2022, at 11:59pm CT

Salem Media First Quarter 2022 Results – For the quarter ended March 31, 2022 compared to the quarter ended March 31, 2021:

Consolidated

• Total revenue increased 5.5% to $62.6 million from $59.4 million;
• Total operating expenses increased 4.8% to $57.6 million from $55.0 million;
• Operating expenses, excluding gains or losses on the disposition of assets, stock-based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation expense and amortization expense (1) increased 8.4% to $55.8 million from $51.4 million;
• Operating income increased 14.2% to $5.0 million from $4.4 million;
• Net income increased 438.4% to $1.7 million, or $0.06 net income per diluted share from $0.3 million, or $0.01 net income diluted per share;
• EBITDA (1) increased 8.6% to $8.2 million from $7.5 million;
• Adjusted EBITDA (1) decreased 13.6% to $6.8 million from $7.9 million; and
• Net cash used by operating activities decreased 53.1% to $4.3 million from $9.2 million.

Broadcast

• Net broadcast revenue increased 10.0% to $48.4 million from $44.0 million;
• Station Operating Income (“SOI”) (1) decreased 3.7% to $10.3 million from $10.7 million;
• Same Station (1) net broadcast revenue increased 9.4% to $48.1 million from $44.0 million; and
• Same Station SOI (1) decreased 5.0% to $10.3 million from $10.9 million.

Milestones:
Mark Hunter 7 years at Truth Broadcasting

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