A ‘Super Session’ Bridging Broadcast Media’s Projections and Visions
NEW YORK — For the first time in its 18-year history, Forecast 2022 offered attendees an exclusive series of conversations, candid discussions and in-the-room only talk that encompassed both the radio and television industries. And, welcoming broadcast TV leaders to Forecast was welcomed across the board — in particular by Borrell Associates CEO Gordon Borrell, who moderated an event-closing “Super Session” with a capacity, standing room only crowd in attendance.
“I’m really happy and pleased to see radio and TV come together for the first time,” Borrell said at the start of the highly anticipated session.
Borrell asked several questions, starting with 2022 revenue projections and any trends that are unfolding for the next year. Answering the question first: Bill Wilson, CEO of Townsquare Media, which has become a digital-first company revenue-wise thanks to its Townsquare Ignite and Townsquare Interactive operations. Getting back to 2019 levels is there, and peers are on their way. He expects strong mid-single-digit growth off of 2019 next year, in particular for radio revenue at Townsquare.
For The E.W. Scripps Co.’s President of Local Media Brian Lawlor, “we had a big year this year,” adding that the broadcast TV stations it owns saw core categories “bounce back really strong.” Reiterating comments made on the company’s Q3 earnings call, 12 of the top 13 ad categories were all up year-over-year. The one that was down? To no surprise, it is Automotive, “for all of the reasons we know.”
The conversation then weaved back to radio — and eSports, as Beasley Media Group CEO Caroline Beasley thanked Streamline Publishing President/Publisher Deborah Parenti for holding Forecast 2022 in person. Addressing Parenti, Caroline Beasley said, “It really shows your courage and your insightfulness,” leading the crowd to applaud.
Caroline Beasley then picked up where Lawlor and Wilson had said regarding 2022 trends, noting that Beasley Media Group is in larger markets than Townsquare and, as such, local and national spot aren’t anticipated to be higher in 2022 versus 2019 just yet. That said, overall revenue will exceed 2019 revenues at the company.
Rounding out the panel is Forecast 2022 co-chair Deborah OConnell, President of Networks for Disney Media & Entertainment; Wilson also co-chaired the event this year. OConnell congratulated Parenti on a great day of sessions before sharing comments that largely mirrored that of Lawlor. “We’ve already come back when you think about local broadcasting and television,” she said. “TV had a quicker turn than radio in coming back from the pandemic and look to 2022 as being a really strong year.”
With 2019 a benchmark for broadcast media, Lawlor agreed with Wilson in noting that, if one thing changed during the pandemic that could be viewed as a positive, “We got off our reliance of our regular business. Automotive? We lived off Automotive being 25% to 30% of our business for decades and all of a sudden Automotive is gone. Our biggest core businesses were gone. You had to reimagine everything and, for our 800 sellers, it meant doubling down our business on local and on developmental opportunities. That absolutely changed our trajectory.”
Additionally, “a record” level of business development and new dollars have come as sellers have been told not to come to work and not to see clients, as the COVID-19 pandemic shifted work to the home and to virtual audio and/or video conversations.
In OConnell’s view, the biggest change from the pandemic was ABC Owned Stations’ audience growth, with consumers “realizing how important local media was, and how we were the only connection point for some people during lockdown to anyone outside of their daily lives or for those who are by themselves. Our audience changed, which makes advertisers understand the importance of local much more today than they did in 2019. It is hard to speak with a client who doesn’t understand the power of local [television] today.
