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Twitter Reassuring Staffers No Layoffs Are Coming

Elon Musk reportedly told potential investors he plans to gut the staff at Twitter by 75 percent. As a result, many are concerned about their futures.

Eduardo Razo

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The Washington Post reported Thursday that Elon Musk told potential investors he plans to gut Twitter’s workforce by 75 percent. As a result, many staffers are concerned about their futures if or when Musk takes over the company.

However, Reuters first reported on Friday that Twitter General Counsel Sean Edgett sent an email to the social media staffers expressing that “the company does not plan layoffs, according to a source who viewed the email.”

Whether Musk takes over the company or not, the report from The Post does state that Twitter already plans to slash 25 percent of the current staff by the end of next year, hoping to trim nearly $800 million from the payroll in the procedure.

With all that’s occurring with the potential sale and threat of layoffs, it may be no surprise that the outspoken director of machine learnings ethics, transparency and accountability at Twitter, Rumman Chowdhury tweeted on Thursday with a gut check for leaders at the company.

“If you’re a manager at Twitter, now’s the time to reflect on your values as an individual and determine who it is you’re here for,” Chowdhury tweeted. 

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Media Business

Audacy Podcasts to Debut Series on Cultural Impact of MTV

“MTV is still on the air in 2024, and it’s still profitable, but my nieces and nephews know it as a logo on an Urban Outfitters t-shirt. I wanted to know what happened, and where the spirit of MTV exists now.”

Barrett News Media

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A photo of the Who Killed the Video Star? The Story of MTV logo

Audacy Podcasts is set to release a new podcast series called Who Killed the Video Star? The Story of MTV.

The eight-part series will be hosted by former MTV VJ and Esquire Editor-At-Large Dave Holmes. The first two episodes released Wednesday, with new episodes releasing weekly through Wednesday, May 8th.

“In the ‘80s and ‘90s, MTV was a window into an alternate universe, one full of music and art and style and sex, that commanded the attention of my whole generation. At the turn of the millennium, I climbed through that window and worked there, and found myself surrounded with the smartest, hardest-working people on Earth, people who loved music and pop culture the way I did,” said Dave Homles.

“MTV is still on the air in 2024, and it’s still profitable, but my nieces and nephews know it as a logo on an Urban Outfitters t-shirt. I wanted to know what happened, and where the spirit of MTV exists now. As I gathered the story, in real-time, a few other bulletproof media brands– Vice, Pitchfork, Sports Illustrated, MTV News itself– went out of business. The story of MTV is a fascinating one in its own right, but it’s also turned out to be, in microcosm, the story of media in 2024.”

“Dave’s insider perspective makes him the perfect person to dissect the trajectory of the cultural phenomenon that is MTV, “ said Jenna Weiss-Berman, EVP, Podcasts, Audacy. “This series is a treat for listeners across all the generations who made MTV a part of their lives.” 

Guests on the show include former VJs “Downtown” Julie Brown,  Damien Fahey, and Kevin Seal. Additionally, former MTV News reporters like Gideon Yago, Chris Connelly, and Suchin Pak will also be featured.

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Salem Media Group Sees Drop in 2023 Broadcast Revenue, Slight Increase in Digital

Digital revenue at the company was up 4.1% with increases from the Salem Podcast Network, Salem News Channel, and digital marketing.

Barrett News Media

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A photo of the Salem Media Group logo

Salem Media Group has released its 2023 financial results, and the company saw a slight dip in broadcast revenue during the year.

Overall, the company reported revenue had declined $7.6 million compared to 2022, representing a drop of 3.7%. Nearly half of that figure was political advertising, as that sector dropped from $5.9 million to $2.3 million, a loss of $3.6 million.

However, digital revenue at the company was up 4.1% with increases from the Salem Podcast Network, Salem News Channel, and digital marketing.

In total, the company reported a rise in operating expenses during the year, ultimately reporting a net loss of $43.3 million in 2023 compared to the $3.2 million it lost in 2022.

Salem Media Group instituted several measures throughout 2023 to mitigate the losses, including selling its publishing and church products divisions. It also sold its former California headquarters for more than $6 million, while agreeing to lease the building for $500,000 per year.

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Media Business

SiriusXM Subsidy AdzWizz Agrees to Advertising Deal with Locked On Podcast Network

SiriusXM will sell Locked On inventory through a new collection of content provided by the satellite service.

Barrett News Media

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A photo of the Locked On logo

Locked On Podcast Network has inked a new agreement for AdsWizz — a subsidy of SiriusXM — to sell the company’s podcast advertising inventory through 2026.

SiriusXM will sell Locked On inventory through a new collection of content provided by the satellite service, which includes the league-specific channels like NFL Radio and MLB Network Radio, as well as College Sports Radio through targeting data and programmatic capabilities.

Currently, Locked On features more than 200 sports podcasts including 60 dedicated to major colleges and college conferences. Last year, the company reported more than 300 million downloads and video views of its content.

Locked On will continue to also provide its own direct sales for its content.

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