Good Morning! It's TGIF March 13, Let's Check The Pulse To Get Started

Radio Broadcasting

Radio Revenue Forecast Remains Mostly Flat for 2026:  Amid Mixed PressuresAnalysts from S&P Global Market Intelligence’s Kagan unit project U.S. radio revenue to stay largely flat in 2026, with modest gains in local advertising (bolstered by certain strong markets) offset by low single-digit declines in national and network spending. Political ad spending could provide a lift later in the year, but war-related economic volatility (e.g., higher oil prices impacting advertiser budgets) adds uncertainty. The radio advertising market overall is projected to grow from ~$27.78 billion in 2025 to $29.09 billion in 2026 (CAGR ~4.7%), driven by local strengths, digital integration, and targeted audio opportunities—though traditional radio faces headwinds from streaming competition.

Podcast and Online Audio Consumption Reach Record Highs:  According to Edison Research, Online Audio Reaches an All-Time High 81% of Americans age 12+ (233 million) listened to online audio in the last month, and 76% (219 million) listened in the last week Americans age 55+ are driving the most recent increases. 

• Monthly online audio listening among this group jumped from 52% in 2024 to 70% in 2026, a gain of nearly 20 percentage points in just two years
• Podcast Consumption Sets New Records 80% of Americans age 12+ (230 million) have ever listened to or watched a podcast, an all-time high 58% of Americans age 12+ (167 million) have consumed a podcast in the last month, also an all-time high. READ MORE 

Media Industry

Fallout from Major Mergers Driving Massive Layoffs and Cost-Cutting:  The Paramount Skydance acquisition of Warner Bros. Discovery remains the industry's biggest story, with expectations of thousands of job losses to achieve projected cost savings amid heavy combined debt (potentially $70–80+ billion). Executives from both sides have met to discuss integration, content slates (aiming for ~30 theatrical releases/year post-merger), and deep cuts in Hollywood studios, streaming (e.g., merging platforms), cable networks, CNN operations, and administrative roles. 

• Critics highlight executive "golden parachutes" contrasting with staff insecurity, fueling union pushes for guaranteed severance in negotiations.
• Nexstar's pending $6.2 billion Tegna deal continues pre-closing efficiencies, including station-level layoffs (e.g., at major-market TV outlets).
• Broader 2026 journalism layoffs already exceed prior years' early pace: Cuts hit Washington Post, CNBC (newsroom restructuring merging TV/digital), Politico, Vox Media, Wall Street Journal, Atlanta Journal-Constitution, New York Daily News, and more—driven by consolidation, cord-cutting, declining ad revenue, and AI adoption. Public media faces fallout from federal funding changes, with hundreds affected at stations and networks.
• Ad agencies like Horizon Media cut ~50 roles in an "AI-focused realignment" to prioritize tech, data, and efficiency.These reflect a defensive industry pivot amid economic pressures from war-driven oil/inflation spikes impacting ad budgets.

Government Media Agency Leadership and Restructuring:  President Trump nominated Under Secretary of State Sarah Rogers to lead the U.S. Agency for Global Media (overseeing Voice of America, Radio Free Asia, etc.), following a federal judge voiding prior CEO Kari Lake's actions—including mass layoffs and staff leaves—as unlawful. This resolves ongoing legal battles over the agency's downsizing efforts, with implications for U.S.-funded international broadcasting amid global tensions.   READ MORE

U-S News

Escalating U.S.-Israel War with Iran: U.S. and Israeli forces continue large-scale airstrikes across Iran, with reports of over 6,000 targets struck since operations began at the end of February. Iran has retaliated with missile attacks on Israel, drone strikes on Gulf states (including Saudi Arabia), attacks on oil tankers and infrastructure in the Persian Gulf, and threats to close the Strait of Hormuz.

• Iran's new supreme leader has vowed revenge, and the country claims to maintain a "chokehold" on key shipping routes. The U.S. military reported a KC-135 refueling plane crash in Iraq (not due to hostile fire), and there are incidents involving allied forces (e.g., French soldiers wounded).
• President Donald Trump has issued strong statements, threatening further "unparalleled firepower," shrugging off economic costs, and emphasizing that defeating Iran's "evil empire" outweighs concerns over oil prices. He has described the campaign as destroying Iran's military capabilities.
• Civilian casualties in Iran are reported in the thousands (e.g., nearly 1,350 cited in some sources), fueling domestic protests in the U.S. and international concern.

Impact of the War on Consumer Prices and the Economy:  The war has triggered a sharp spike in global oil prices (back above $100 per barrel in recent days, with fluctuations), leading to the largest potential supply disruption warnings from the International Energy Agency in history.

• Gasoline and energy costs have surged significantly since late February: Prices at the pump have risen 15-20% (e.g., to around $3.54–$3.58 per gallon per AAA data), with further increases expected.
• February's Consumer Price Index (CPI) showed annual inflation steady at 2.4% (monthly +0.3%), with core inflation at 2.5%—subdued before the conflict's full effects. However, economists warn of a rebound, potentially pushing headline inflation up by 0.15–1.0% or more in March and beyond, depending on the war's duration.
• Higher energy costs are feeding into broader consumer prices (e.g., transportation, goods), posing risks to spending and growth. President Trump has downplayed the issue, noting the U.S. benefits from higher oil in some ways, but analysts see upside risks to inflation, reduced Fed rate cut expectations, and potential economic slowdown if prolonged.