State Champ Radio Radio
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Lupe Fiasco is teaming up with the Massachusetts Institute of Technology to produce an FM radio station. There’s a catch, though: The project will be fully powered by artificial intelligence. The Chicago rapper-turned-professor made the announcement on Instagram last week with a lengthy caption, which read in part: “Imagine if there was a 24-hour fully […]
Horror author Stephen King’s rock ‘n’ roll radio station is going to continue rocking around the clock and into the new year.
Two businessmen purchased WKIT-FM from the best-selling writer after he announced that the station and two others would go silent after New Year’s Eve. The buyers are the Maine-based duo Greg Hawes and Jeff Solari, who formed Rock Lobster Radio Group to run the station.
“WKIT is the most legendary station in the region. It has tremendous history. We couldn’t let it die,” they said in a statement.
King is a lifelong rocker and performed with the Rock Bottom Remainders, a band that featured literary icons performing for charity. He announced earlier this month that at age 77 he thought it was time to say goodbye to the radio stations.
“I’m sorry as hell to be closing down WKIT and its sister stations,” King posted earlier this month on social media. “I held off the suits for as long as I could.”
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General manager Ken Wood, who has been with the stations for 10 years, also acknowledged the end of an era but appreciated the Kings’ commitment to local broadcasting.
“Independent, locally owned radio stations used to be the norm,” Wood said. “There’re only a few left in Maine, and we’re lucky we had these three as long as we did.”
The prolific author bought WLBZ in 1983, renaming it WZON in homage to his 1979 novel The Dead Zone. The station was sold in 1990 but re-acquired by the Kings three years later. Despite King’s passion for radio and his efforts to maintain local and independent stations, the three stations have consistently lost money, with King personally covering the deficits.
Since getting into the terrestrial radio business in 1983, King has written over 50 novels, including well-known works such as It, Misery, The Dark Tower series, Pet Sematary, Under the Dome, Skeleton Crew, The Green Mile and 11/22/63, among many others.
Salem Media Group has sold its seven remaining Contemporary Christian-formatted radio stations to the Educational Media Foundation (EMF) for $80 million, the company announced Monday (Dec. 30).
The agreement, which is pending approval from the Federal Communications Commission (FCC), will add or expand EMF programming to seven U.S. markets, with stations including KLTY-FM in Arlington, Texas; WFSH-FM in Athens, Ga.; WFHM-FM in Cleveland; KFSH-FM in La Mirada, Calif.; KKFS-FM in Lincoln, Calif.; KBIQ-FM in Manitou Springs, Colo.; and KFIS-FM in Scappoose, Oreg.
EMF — the parent organization of Christian radio networks Air1 and K-LOVE — noted in a statement that it intends to launch K-LOVE or Air1 Worship Now programming on those signals according to market needs, pending FCC approval. It indicated that it aims to begin programming the stations via a local marketing agreement on Feb. 1.
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Also on Monday, Salem announced that it has entered into an advertising and marketing agreement with EMF for $10 million.
Through its Air1 and K-LOVE networks, EMF reaches approximately 18 million listeners each week. Its Air1 and K-LOVE radio networks have over 1,100 broadcast signals across all 50 states, with global reach through streaming audio.
Salem Media Group’s CCM-formatted radio stations were most commonly operated under the nickname “The Fish.” Founded as Salem Communications in 1974, the company rebranded as Salem Media Group in 2015. It has since grown to become a multimedia company with properties including talk radio, digital media and book/newsletter publishing. According to a March 2024 corporate guide, the company’s other radio signals include 38 Christian teaching and talk radio stations and 30 news talk stations.
Salem’s sale of the seven stations came as part of a group of strategic transactions aimed at shoring up the company’s financial security. As part of this effort, the company repurchased all $159.4 million in outstanding 7.125% senior secured notes due 2028 for $104 million cash and $24 million in subordinated unsecured promissory notes. By midyear 2025, those notes are slated to be exchanged for series A preferred stock. Salem also issued $40 million in series B convertible preferred stock to the foundation WaterStone, with proceeds being used to fund Salem’s debt repurchase. On Dec. 23, Salem extended its revolver line of credit with Siena Lending Group for one year.
“As Salem has leaned into its talk and information programming, we are honored to carry the torch and keep Christian music flowing over these frequencies,” said Tom Stultz, EMF’s interim CEO, in a statement. “These strong stations expand our coverage area and help us deliver on our mission to reach more people with the gospel of Jesus Christ. We feel it is an incredible opportunity to continue serving listeners with Christian music in these important markets.”
Edward G. Atsinger, Salem Media Group’s executive chairman/co-founder, said in a statement, “We have made a strategic decision to exit the Contemporary Christian Music format in order to pay off all of Salem’s long-term debt. We could not be more delighted that the buyer is EMF. EMF has demonstrated over many years a unique ability and dedication to creating and distributing the highest quality Christian music content to its listeners in a positive and encouraging way. I am confident that their impact on listeners and their communities will be incredibly effective.”
This isn’t Salem’s first sale to EMF. In March, the company sold its stations in Nashville and Honolulu to EMF for $7 million.
The Spanish Broadcasting System (SBS) has officially launched its first-ever radio station in Texas called La Ley 92.1 FM. The radio station’s morning show — which begins at 5 a.m. local time — is hosted by popular Mexican radio personality Raúl Brindis, who has over 30 years of on-air experience and promises to bring “a […]
iHeartMedia subsidiary iHeartCommunications pushed back the maturity date of much of its debt by three years and reduced its amount of long-term debt by $440 million. In November, the company’s debt holders were given the opportunity to exchange existing debt for new debt with higher interest — and approximately $4.8 billion, or 92.2%, of them […]
A year ago, SiriusXM launched a new streaming app filled with original and licensed content from its satellite radio service and set the price at $9.99 — far below the roughly $16 average monthly revenue it takes in per satellite subscriber. The hope was that a relatively affordable price and an improved app would help SiriusXM reach younger consumers and expand beyond its core in-car satellite radio listeners.
The new app was “just the beginning,” CEO Jennifer Witz said at the time, adding that SiriusXM would “continue to iterate and develop our product offerings throughout the next year and beyond as we strive to deliver our subscribers the best listening experience on the go, in the car, and wherever they choose to tune in.” The company’s satellite radio business was built on vehicles. If you buy a new or used car, you’ll likely get a free SiriusXM trial that’s extremely effective at convincing people to subscribe once their trial is over. The new streaming app was intended to attract people who would listen outside of the car.
But selling the radio experience in a smartphone app didn’t go well. As it turns out, the streaming app hasn’t produced a good return on marketing spending, Witz said on Tuesday (Dec. 10). Appearing at the UBS Global Media and Communications Conference, the executive cited “slow progress” in turning free trials into long-term retention. As a result, SiriusXM has already cut back its marketing spend on the app and expects to have fewer streaming trials — and thus fewer subscribers — in the future. That was a worse assessment than what Witz delivered on SiriusXM’s Aug. 2 earnings call. At that time, when asked about conversion rates for the app, Witz said they had been “challenged” but maintained positivity, adding that there had been some “positive results” with first-time trial adopters and that the company was “confident” it could attract “a different audience” that will be “incremental” to the existing car-based business.
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Now, after its underwhelming experiment with the app, SiriusXM will, in Witz’s words, be “leaning into our strengths.” In other words, the company is putting its focus back on satellite radio and the in-automobile listening experience. In alignment with that strategy, the company also announced the departure of Joseph Inzerillo, the chief product and technology officer who played an instrumental role in the app’s launch.
For all the strengths of the app — curated stations, celebrity musician stations, a smorgasbord of audio programming — the company gave up its competitive advantage when it tried to compete outside of satellite radio and the automobile. After all, the company is the lone satellite radio operator and, given the cost and complexity of launching satellites into orbit, has the market to itself. But when leaving the safety of satellite, it’s hard to beat Spotify, Apple Music, YouTube and Amazon Music at their own game. These are streaming-native platforms built for consumers’ desire for interactivity, while SiriusXM’s app attempts to fit a one-way satellite radio experience into a two-way, interactive medium. In the end, paid radio turned out to be a tough sell to a generation that has grown up on on-demand streaming.
So, SiriusXM is going to focus on what it does best, and in-car listening gives the company a huge audience to work with. It currently has 33 million subscribers and, according to MusicWatch’s Russ Crupnick, reaches 65 million total listeners. In an email to Billboard, radio consultant Andy Meadows said he believes “SiriusXM is better suited to compete for those coveted in-car listeners so [Tuesday’s announcement] makes sense from that standpoint.” Crupnick also sees in-car listening as a point of strength for SiriusXM, pointing to the uniqueness of the SiriusXM product as a distinct advantage. “The ease of use, breadth of content, and curation position them as far superior to terrestrial radio, and in a different place than music streaming or podcasts,” he says.
Building on in-car satellite listening, the SiriusXM streaming app will become more of a complementary product. “There is real opportunity with 360L,” said Witz on Tuesday, referring to the company’s in-car platform that serves as a dual satellite radio/streaming product. Because 360L includes streaming, it allows SiriusXM to serve personalized — a.k.a. more lucrative — ads and provide more targeted — a.k.a. more expensive — ads for advertisers. Of the app, she said it can provide data that helps SiriusXM determine spends on programming that resonates with listeners, given that satellite receivers are a one-way technology that doesn’t provide granular insights into listening behaviors. Similar to 360L, the app can also provide targeted advertisements.
For customers, bundling satellite and streaming costs as low as $25 per month. That’s about double the cost of an individual Spotify subscription, but SiriusXM subscribers can withstand the price. According to Witz, platinum satellite subscriptions, which cost upward of $29 per month, account for “about a third” of the current subscriber base. And providing the best of satellite and streaming will help SiriusXM compete with a “newer breed of streaming products” on Americans’ car dashes, says Meadows. “Anything SiriusXM, and traditional radio for that matter, can do to look, sound and function better across all devices is in their best interest long term.”
Country Radio Broadcasters (CRB) has revealed the rising country music newcomers to be featured as part of the 2025 New Faces of Country Music showcase during next year’s Country Radio Seminar, slated for Feb. 19-21 at the Omni Hotel in downtown Nashville. Announced Wednesday (Dec. 11), the showcase will highlight Drew Baldridge (Lyric Ridge/BMG/Stoney Creek), […]
In 2024, radio gained a massive star: Shaboozey. Thanks to an ambitious five-format strategy by the EMPIRE label to break “A Bar Song (Tipsy)” to the widest possible audience, the singer-songwriter’s signature track hit No. 1 on the Billboard Hot 100 in July and remained there for a record-tying 19 weeks, making radio history along […]
Nearly one year after launching a new streaming app, SiriusXM Holdings announced on Tuesday it is moving away from streaming and doubling down on the people who pay for its music, news and podcasts in cars.
Sirius has become the dominant provider of audio entertainment subscriptions in vehicles in the recent years in the U.S. but concerns over softening subscriber revenue and an eagerness to attract more younger subscribers pushed the launch of a streaming app last December.
While their $9.99 subscription for streaming on your phone will still be available, the company will focus resources on keeping and selling more services to the 33 million people with SiriusXM subscriptions—90% of whom listen in their cars.
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“We are focusing on … our strong core subscriber base, our unique position in vehicle, and our unrivaled, curated content — and taking steps to drive profitability and cash flow as we face marketplace headwinds impacting the company’s growth trajectory,” SiriusXM chief executive Jennifer Witz said in a statement.
SiriusXM’s stock price was down more than 10% at $25.81 just before 1 p.m. in New York. Witz is expected to speak about the new strategy at an investor conference later on Tuesday.
Streaming, which is already sold as a companion to the in-car subscription for $24.98, will be considered a “companion” offering, the company said, through partnerships with companies like Tesla. But it is shifting “marketing and other resources away from high-cost, high-churn audiences in streaming to focus resources on core revenue-generating segments.”
The company also named Wayne Thorsen the company’s chief operating officer in charge of product & technology, corporate strategy and parts of the commercial business. Thorson is charged with tracking “the return on marketing and technology investments.” A former Google and Viacom executive, Thorsen previously oversaw product management, engineering and business development for home security company ADT. Thorsen’s appointment coincides with the departure of chief product and technology officer Joseph Inzerillo, who played a pivotal role in modernizing SiriusXM’s technology platform and launching the streaming app.
SiriusXM invested two years and millions of dollars into updating its technology and developing the streaming app, which it unveiled last December, along with a new logo. The new app came with new channels run by John Mayer, Kelly Clarkson, Shaggy and Smokey Robinson, as well as a weekly show by James Corden and a new true-crime channel from Crime Junkies podcast host Ashley Flowers.
The company’s investments in podcasting and new technology has driven years of belt-tightening and at least two rounds of layoffs, which resulted in around 650 jobs being cut in 2023 and 2024. Having cut costs by $200 million this year and $150 million in 2023, executives said Tuesday they are aiming to achieve an additional $200 million in cost savings next year.
During its most recent quarterly earnings, SiriusXM lowered its 2024 revenue goal to $8.675 billion from $8.75 billion due to lower subscriber revenue and softer-than-projected advertising revenue in the second half of this year.
The company reported gaining 14,000 self-pay subscribers in the third quarter this year. However, subscriber revenue was down to $1.645 billion in the third quarter 2024 from $1.729 billion during the third quarter 2023.
SiriusXM reaches around 150 million listeners through SiriusXM, Pandora and its growing podcast service.
In March 2020, Elena Rose was a songwriter in her mid-twenties who had helped craft hits for Latin superstars like Becky G and Myke Towers. She was content with her day job, but as lockdown began to take hold, the Venezuelan American had an early-pandemic revelation.
“I really thought that the world was coming to an end,” she says. “When I saw that my voice had not been heard, it made me sad.”
While Rose continued to work behind the scenes — her songwriting credits to-date include Billboard chart entries and collaborations with Selena Gomez, Bad Bunny, Marc Anthony, and the Becky G-Karol G team-up “MAMIII,” which reached No. 1 on the Hot Latin Songs chart — she made her singing debut as an independent artist that May with the Latin urban song “Sandunga.” She paired the release with a colorful music video that showcased her striking presence and alluded to her superstar capabilities.
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Today, the 29-year-old has fully realized her potential, breaking through in recent months on the Billboard charts as a performer with “Orion,” her collaboration with Panamanian star Boza.
Born Andrea Elena Mangiamarchi in Miami to Venezuelan parents, Rose grew up between Puerto Rico and Venezuela before returning to her hometown due to sociopolitical and economic crises in the South American country. No matter her location, she loved to sing anywhere and everywhere: initially, she began as a performer, singing in bars, restaurants and at parties.
She met mentor and producer Patrick Romantik in Miami in her early twenties, who brought Rose to the studio and taught her the ins and outs of the technology, while also letting her observe sessions to learn about the songwriting process. “And my years of silence began,” she reflects. “I remember they told me, ‘OK, you can be here, but we cannot feel you.’ ”
During that time, she watched writers and producers such as Servando Primera, Yasmil Murrufo and Mario Cáceres create hits including Becky G’s “Mayores” featuring Bad Bunny in 2019, which reached No. 74 on the Billboard Hot 100. Along the way, she gained an informal music education as a hitmaker.
“When I worked in bars in Miami, the musicians were Ricky Martin’s percussionist, Alejandro Sanz’s pianist, the bassist who had played with Stevie Wonder,” Rose says. “It was my best school because they were people who had experienced music, understood it and wanted to preserve it.”
Elena Rose photographed September 26, 2024 at Grove Studios in Miami.
Mary Beth Koeth
She continued to self-release new singles through the next few years, such as “La Ducha” and “Picachu” and made appearances at key industry events such as Billboard Latin Music Week, where she has participated every year since 2021 either as a panelist or a performer. In summer 2022, she signed a record label deal with Warner Music Latina.
“Her lyrics, her voice, her presence and the ability she has to convey emotions is unparalleled,” said the label’s president Alejandro Duque at the time. In September of the following year, she agreed to a management deal with OCESA Seitrack, whose artists include superstars such as Sanz and Alejandro Fernández.
“The day I sat down a year and a half ago to have dinner with her, I was blown away,” says OCESA Seitrack founder/CEO Alex Mizrahi. He adds today that he recognized her as “a diamond in the rough” with the potential of becoming “the next Karol G” in terms of success.
In the year-plus since then, she has released soulful solo songs, including the empowering “Me Lo Merezco” in March. But her collaborations with artists spanning genres on her November EP, En Las Nubes (Con Mis Panas), and elsewhere have taken her to new markets — chiefly with “Orion.” Sophisticated in both its lyrics and production, the song is a captivating fusion of reggaetón, salsa and Afrobeats. It has an irresistibly playful bridge from Boza, and with Rose’s evocative writing, the single shows new layers to both artists.
“I made the song ‘Orion’ at a [writers] camp in Miami a year ago,” remembers Boza. “I heard it with the producer, Daramola, and the songwriters, Essa Gante and Omar, and at that moment we already knew that we needed a female voice. Together with my team, we thought of Elena.”
Adds Rose: “When this song came to me, I remember saying, ‘OK, it has a soul, it has something nice. If you allow me, I want to take it to my world and see how I can give it a little more of myself.’ I remember that was when I gave love to the chorus, changed the lyrics, and wrote my verse. I feel that, for me, the concept of ‘Orion’ became a source of information on emotional intelligence.”
The song was released May 29 on Sony Music Latin (Boza’s record label), with an official music video arriving the following day. Though Rose recorded her part separately, they got together to shoot the video in Panama, which has since tallied more than 105 million views on YouTube. “Orion” steadily began to take hold at radio as well, and by mid-September, it debuted at No. 20 on the Latin Pop Airplay chart. Three weeks later, it arrived on the overall Latin Airplay ranking. It has held ever since on both, with “Orion” spending the last six weeks at No. 2 on the Latin Pop Airplay chart. It has also reached a No. 15 high on Latin Airplay. “Working with her is like traveling to another planet,” Boza says of Rose.
As her public profile reached new heights fueled by the song’s success, so did her status within the industry: in September, she earned three Latin Grammy nominations, for song of the year for “Caracas En El 2000” with Danny Ocean and Jerry Di; best pop/rock song for “Blanco y Negro,” a LAGOS song featuring Rose; and best regional song for her hand in Becky G’s “Por El Contrario,” which she co-wrote with Latin hitmakers Edgar Barrera and Keityn. (The year prior, she was the only woman to be nominated when the songwriter of the year category was inaugurated.)
Rose has continued to prioritize her collaborative efforts, releasing both the country-tinged ballad “A Las 12 Te Olvidé” with Ha*Ash and a Latin pop song infused with cumbia and urban rhythms, “Pa’ Qué Volviste?” with Maria Becerra, as non-EP singles in November. And while her success with Boza has made her a recognizable face in Panama — Rose coyly says that a recent flight she was taking was delayed after the co-pilot requested a photo with her — Mizrahi teases that more duets are on the immediate horizon, which aim to bolster her following in other countries.
In the coming months, there are plans for releases with Camilo and Morat (both from Colombia), Sanz (Spain) and Los Ángeles Azules (Mexico). She is also scheduled to perform at both Lollapalooza Argentina and Lollapalooza Chile in March 2025. “The goal is to bring Elena’s music to the world,” Mizrahi says, “to make her a global artist.”
Elena Rose photographed September 26, 2024 at Grove Studios in Miami.
Mary Beth Koeth
A version of this story appears in the Dec. 14, 2024, issue of Billboard.
