SUMMER 2021

NEW MEDIA OPTIMISM IN THE TRADITIONAL VIDEO

WHO ARE THE BROADCAST BEST LANDSCAPE FINANCE LEADERS OF 2021? CAN HD RADIO DATA SERVICES OR EDGE COMPUTING BRING YOUR STATIONS NEW REVENUE? HOW ‘INTERNET OF THINGS’- POWERED SYSTEMS ARE AIDING BROADCAST MONITORING

SUMMER 2021 · RBR.COM

IN THIS ISSUE

SUMMER 2021

4 A KAGAN MEDIA SUMMIT PREVIEW RBR+TVBR offers an advance look at what’s on the agenda, and shares details of an exclusive chat with S&P Global Market Intelligence Senior Research Analyst Justin Nielson on industry trends and where radio and TV is heading in 2022 and beyond.

7 THE BROADCAST BEST FINANCE LEADERS OF 2021 Media industry CFOs and key finance leaders at radio and TV companies have made it through very challenging times. In recognition of their efforts, the readers ofRBR+TVBR have spoken. Who’s on top in this ranked list?

20 MEDIA MONETIZATION FROM MORE NEW TECHNOLOGY HD Radio data services. Edge computing and the potential for broadcast TV and radio. What’s the potential, and timeline for launch, for these predicted dollar magnets?

22 HOW ‘IoT’ CAN MAKE MONITORING EASIER Using IoT systems to monitor points along the contribution and distribution network, through the studios, headends, and on to the last mile, is a technological advancement broadcast media should know more about.

Radio + Television Business Report STREAMLINE PUBLISHING 331 SE Mizner Blvd. Chairman: Eric Rhoads Boca Raton, FL, 33432 Publisher: Deborah Parenti Phone: 561-655-8778 Editor-in-Chief: Adam R Jacobson www.rbr.com Director of Operations: April McLynn Twitter: @rbrtvbr

SUMMER 2021 · RBR.COM · 3 NEW OPTIMISM FOR ‘TRADITIONAL’ MEDIA VEHICLES On June 17, television industry executives will once again be gathering in a virtual manner. While COVID-19 pandemic concerns are rapidly melting away, the organizers of the annual Kagan Media Summit opted to forgo traveling to New York just yet. The comfort level of participants will undoubtedly be higher, as the 2020 affair was a digital one, too.

ith the Radio + Television Business Report again the RBR+TVBR: You’ll be offering, for the first time, Kagan’s spotlight on official media partner for the summit, same-day the U.S. broadcast station industry. Can you offer us a sneak peek of coverage of key Kagan events produced by the S&P some of the key takeaways you’ll be presenting? Global Market Intelligence group will be delivered to JUSTIN NIELSON: My industry overview will be primarily WRBR+TVBR subscribers at RBR.com. broadcast-focused. I will cover our projections for the TV and radio What can participants expect this year? S&P Global Market station advertising spend over the next 10 years, as well as TV, Intelligence Senior Research Analyst Justin Nielson spoke with retrans, and distribution fee revenue. RBR+TVBR Editor-in-Chief Adam R Jacobson to offer a preview of I will also be covering some of the secular trends in both the event. segments, as well as looking at some of the new advertising for television, such as sports betting. We will also look at some of the RBR+TVBR: In 2020, the Kagan Media Summit was one of the first new technology surrounding ATSC 3.0 and NextGen TV, and some media-industry events to shift to a virtual affair. It saw two days, of the activity in the M&A market and values for stations. on consecutive Thursdays, of events. For 2021, the plan is for a single summit meeting day. What prompted that decision? “Within the next few years we will see JUSTIN NIELSON: From our perspective, we really wanted to look at a couple of specific topics a lot more commercial applications in the TV industry and the video industry. This put a focus on of NextGen TV, and also in spectrum an executive Q&A and industry overview type of summit, as leasing. It could benefit driverless cars.” opposed to having two days of long panel sessions. It seems like now, over a RBR+TVBR: You mention sports betting. That’s a great setup for learn- year into the pandemic, people ing more about the Executive Interview session with Chris Ripley, are getting a little bit of Zoom fatigue in having multiple-day President/CEO of Sinclair Broadcast Group. Given Sinclair’s purchase conferences or long webinars. We consolidated our content into of regional sports networks once branded as FOX Sports and now a four-hour block. Obviously, people can come in for individual linked with the Bally brand, Sinclair is now a key player in bridging sessions if they prefer. Or they can watch the replay after it’s gaming and play-by-play. What can the broadcast TV industry take been concluded. away from gaming’s rapid growth? JUSTIN NIELSON: Sinclair is at the forefront of the reemergence

4 · RBR.COM · SUMMER 2021 of sports programming on broadcast and on cable. They recently RBR+TVBR: Are AVOD and CTV rapidly changing how all should think announced that they are going to go direct-to-consumer with some about “television”? With a grand change in how consumers are view- of their Bally Sports programming as well as integrating some of ing content, are we in the midst of a huge transition, much like the one the sports betting opportunities in certain markets. experienced in 1948 when TV exploded in growth, impacting radio in In some markets, the NBA will even allow betting at the games. myriad ways? There’s a lot of advertising around fantasy sports leagues like JUSTIN NIELSON: I really do think that the last year of the DraftKings. It’s an emerging category, and obviously Sinclair thinks pandemic has just accelerated that trend. We had been seeing it is going to be a very large category for advertising. It’s poised to subscriber churn off of traditional MVPDs for quite some time. But provide substantial growth for their business. over the past year that just surged, with new streaming services Looking at it from the broadcasters’ side, the big focus has arriving. Alternative options for video and the on-demand and always been around news and sports. Local news is one of their key SVOD give so much out there for consumers to access. It’s really products. Sports has always been, with NFL packages and other changed viewing habits profoundly across the entire ecosystem. packages. In terms of generating viewership, these are their bread and butter. That aligns very well in going after the regional sports RBR+TVBR: The presence of FuboTV co-founder and CEO David as well as new categories — and, potentially, eSports. Gandler is intriguing, given the digital TV service’s transition from an OTT-powered soccer game source to a vMVPD. What does Gandler’s RBR+TVBR: Sinclair has taken a leadership position in the develop- perspective bring to the mix for Kagan attendees? ment and rollout of NextGen TV in the U.S., something the consumer JUSTIN NIELSON: It was really interesting to see that he agreed press hasn’t necessarily provided in its coverage of the company. to speak with us at the Kagan Media Summit. He brings a very What can Kagan Media Summit participants expect to hear from Rip- unique perspective on how they are positioning their company in ley on the data capabilities tied to ATSC 3.0, and the monetization of the video marketplace. They are very geared toward the sports this, given what Sinclair has done in South Korea and in the U.S.? fan, and no qualms about it. They are delivering the most sports JUSTIN NIELSON: A lot of talk in the press has been around programming in a streaming service to date. the 5G rollout, and there’s not much press around ATSC 3.0 and NextGen TV — the ability for that new standard to expose people RBR+TVBR: The Kagan Media Summit concludes with a 1:45pm ET ses- to programming that they haven’t been able to reach over the air, sion focused on the “evolution of video.” The participants are Warner- delivered in 4K, along with different audio streams, interactivity, Media Sales and Distribution Head of Sales and Partner Management targeting in terms of advertising. From the business side, it Jennifer Mirgorod; Tubi Head of Global Business Development Andrea definitely opens up a lot of opportunities. Eventually there will be Clarke Hall; AMC Networks EVP/CFO Christina Spade; and Lisa Knutson, subscription on-demand pieces as well. who became Scripps Networks President following The E.W. Scripps It also opens up the possibility for them to be on multiple devices, Co.’s merger with ION Media. either in the home or outside. Within the next few years we will Knutson’s presence is particularly of interest to RBR+TVBR readers, see a lot more commercial applications of NextGen TV, and also in and we’re curious as to where digital multicast networks fit in Kagan’s spectrum leasing. It could benefit driverless cars. worldview of the total viewer universe. What can you share, as free- to-air TV and ATSC 3.0 offer new opportunities for broadcasters and viewers even as a major shift to digitally delivered programming plat- forms is unfolding, and fast? “Over the past few years we’ve seen a JUSTIN NIELSON: Over the past few years we’ve seen a pretty significant increase in the number of available multicast networks pretty significant increase in the number and channels across the nation. With the Scripps-Ion merger, you’re just going to see more of that. And, with Scripps and Ion of available multicast networks and programming combined, one can look to the potential development of an AVOD platform, allowing for growth on the streaming side for channels across the nation. With the a broadcast TV company. They are going to have more available bandwidth and spectrum when their channels transition to ATSC Scripps-Ion merger, you’re just going to 3.0 and provides value. see more of that.” RBR+TVBR: What else can participants expect from the Kagan Media Summit this year? JUSTIN NIELSON: We will have some high-line metrics for our THE CHANGING DYNAMICS OF BROADCAST TV presentation, as well as some trend analysis and deal analysis that Following a lunch break, Kagan/S&P Global Market Intelligence I will be presenting. Research Director Deana Myers will offer an overview on “the Also, we will have some interaction and some Q&A on both of changing dynamics of the TV industry.” our panel sessions, and the ability to chat with speakers during This could be a wide-ranging conversation. And, given all the the show. buzz about connected TV (known as CTV outside of Canada, where that’s a broadcast TV network) and advertising-based video on COVERAGE OF THE KAGAN MEDIA SUMMIT’S KEY SESSIONS WILL demand (AVOD), the NewFronts and Upfronts are now equally BE AVAILABLE TO ALL RBR+TVBR MEMBERS EXCLUSIVELY AT important to marketers and such radio and TV companies as RBR.COM ON JUNE 17 AND JUNE 18. Audacy, Estrella Media, and ViacomCBS, to name a few.

SUMMER 2021 · RBR.COM · 5 Congratulations to the Top 15 Broadcast Financial Leaders Nominated by the Readers of RBR/TVBR

Melissa Mitchell Dave Bestler Evan Masyr Bonneville International Corp. Hubbard Broadcasting Salem Media Group Corporate Controller CFO CFO

David Atkinson Rich Bressler José Molina Educational Media Foundation iHeartMedia Spanish Broadcasting System CFO EVP/CFO and COO CFO

Kimberly Parker Tommy Trujillo Victoria Harker Graham Media Group Meruelo Media TEGNA EVP/CFO SVP of Finance and Operations EVP/CFO

James Ryan Paul Rahmlow Jason Combs Gray Television Midwest Communications The E.W. Scripps Co. EVP/CFO CFO CFO

John Drain Tom Carter Peter D. Thompson Hearst Television Nexstar Media Group Urban One CFO President/COO and CFO EVP/CFO

Top15-RBR/TVBR2021.indd 1 6/1/21 11:02 AM Broadcast Best Finance Leaders: THE 2021 RANKINGS The worst of the COVID-19 pandemic is now in the past. Plans are in the works for the 2021 NAB Show in Las Vegas. One group of CFOs and other key finan- cial leaders in broadcast media have successfully navigated through stormy seas and are positioned for sunny days ahead.

In recognition of their efforts, the readers of RBR+TVBR have TV station owners. It is also diverse, with representatives from once again spoken, with nominations for the Broadcast Best media companies superserving Hispanic and African American Finance Leaders of 2021. It’s a ranked Top 15 list, as it was in consumers present. 2020, and honors industry professionals who have demon- strated leadership prowess, fiscal skill, and the acknowledged RBR+TVBR salutes these 15 individuals, selected from nomina- respect of their peers. tions by readers — people who know the radio and television business from the inside — and finalized with research and edi- This year’s honorees include five new individuals, including the torial evaluation to determine the 2021 list. Chief Financial Officer at one of the nation’s biggest broadcast

SUMMER 2021 · RBR.COM · 7 TOM CARTER President/COO and CFO, Nexstar Media Group 1 2020 Ranking: No. 1 In 2009, In 2009, Tom Carter entered the broadcast TV business. For nearly a quarter-century before joining Nexstar Media Group, he served as the Managing Director of Media Telecom Corporate Investment Banking at Banc of America Securities. At BofA he acted as the senior banker respon- sible for delivering bank products and services including M&A, private and public equity, high-yield debt, fixed income derivatives, syndicated finan- cial products, and treasury management for selected clients across the broadcasting, cable, publishing, and media industries — including Nexstar. Today, Carter has won the respect of his peers both inside Nexstar and across the media finance world. Yet Carter isn’t one to take to the virtual podium or have a spotlight shone on him when it comes to industry accolades. As such, Carter has elected to bestow this honor on Randy Bradford. Bradford serves as the Sr. Vice President of Financial Operations at Nexstar, and was appointed to that role in the fall of 2019. Bradford has responsi- bility for financial planning and analysis, risk management, treasury management, and employee services, and assists with mergers and acquisitions. Bradford previously served as VP of Financial Operations, and from 2009-2013 managed the company’s station management relationship with Tom Carter Randy Bradford Four Points Media and was the company’s

8 · RBR.COM · SUMMER 2021 Manager of Financial Operations. Before joining Nexstar, Bradford served in various senior management roles including those of CFO of Independence Media, Controller for Healthvision, and Director of Finance for Chase Medical.

Victoria Harker

Rich Bressler VICTORIA HARKER company happens to be the second-in- EVP/CFO, TEGNA command at iHeartMedia — the largest 2020 Ranking: No. 7 Jim Ryan single licensee of radio stations in the U.S. 4 Rich Bressler has been CEO Bob Its collection of TV sta- Pittman’s right-hand man at iHeartMedia tions ranges from the CBS affiliate in JIM RYAN since January 2013, after he arrived from Washington, D.C., to such NBC affiliates as EVP/CFO, Gray Television radio industry investment banking house KPNX-12 in Phoenix; KGW-8 in Portland, 2020 Ranking: No. 2 Thomas H. Lee Partners, where he served Ore.; and WGRZ-2 in Buffalo. 2 Back in 2019, when RBR+TVBR as a Managing Director. Before that, he These broadcast properties are just first reached out to Jim Ryan, he had a business relationship with Sumner some of the standouts within the TEGNA offered a simple reply: “I prefer to stay and Shari Redstone. That’s because he family. And they’re key revenue catalysts under the radar and off the grid as much served as Sr. EVP/CFO of the former at a company that, on a five-year stock as possible.” Viacom Inc., where he led all strategic, chart, is trading at its high point. Little has changed for the Gray financial, business development, and tech- Don’t tell that to Soohyung Kim, who Television leader, who is again ranked at nology functions. Bressler has also been through his Standard Media has a minor- No. 2 on our reader-generated rankings EVP/CFO of Time Warner Inc. ity stake in TEGNA. He’s wanted greater of the Broadcast Best Finance Leaders. One year ago, Bressler and the rest of influence on the company’s board of “Jim does not want any attention or rec- the iHeartMedia team were riding a wave directors — and sway over TEGNA’s direc- ognition,” a company spokesperson tells of momentum on Wall Street. The iHeart- tion — for more than a year. At the 2021 RBR+TVBR. Media share price was $17.82 prior to the annual shareholders’ meeting, his nomi- While humble, Ryan has been a key novel coronavirus’ arrival in the U.S. As nees were soundly rejected by those hold- member of the C-Suite since he joined of June 1, it sat at $23.91, reaching a new ing TEGNA stock. Gray Television in October 1998, rising to post-bankruptcy-reorganization high. Can you blame them? Under its cur- a Sr. VP in 2002. He joined Gray following This is testament to strong leadership rent leadership, TEGNA is running on all its purchase of Busse Broadcasting Corp., that has endured accusations by some of cylinders. Among those C-Suite leaders where he spent the prior 19 years in vari- cutting air talent and programming staff proving TEGNA is on the right track is ous roles, rising to CFO. “to the bone” while ensuring its finances Victoria Harker, who took on CFO duties Today, he’s busily crafting a post-merger remain on track for growth. That growth in July 2012. Before taking her current Gray Television that includes all of Quincy is happening, fueled by digital and pod- role, Harker served as CFO and President Media, Inc.’s former assets, following nec- cast excitement among consumers and of Global Business Services at the AES essary market spins to meet FCC’s local advertising partners. Meanwhile, iHeart’s Corporation, a global power company. ownership limits. While that deal is a big position as the home of some of radio’s From November 2002-January 2006, she one, Gray also recently acquired the CBS most recognizable stars continues, even as was CFO of MCI Group. affiliate and the low-power TV station it seeks to retain as many affiliates of The Like President/CEO Dave Lougee, Harker housing the Telemundo affiliate in the Rush Limbaugh Show as possible as the points to TEGNA’s “record” 2020 results as Permian Basin region of Texas. company’s Premiere Networks arm rolls the company’s biggest accomplishment, out its own successor against a host of with credit going to the entire team for others in the marketplace. achieving those results. RICH BRESSLER Despite that challenge, iHeartMedia As such, she’s another honoree who has President/COO and CFO, enjoys widespread brand recognition, preferred to bestow her honor on all at iHeartMedia from its iHeartRadio app to its music fes- TEGNA responsible for the company’s fiscal 3 2020 Ranking: No. 5 tivals and FOX-televised awards program. success. Much of that is thanks to forward-thinking As was the case in 2020, the top-ranked C-Suite leadership, and Bressler’s steward- executive from an audio-focused media ship of the P&L yacht.

SUMMER 2021 · RBR.COM · 9 TEGNA salutes our own Victoria D. Harker Executive Vice President and Chief Financial O cer

Congratulations on being selected as one of the Best Finance Leaders in the media industry.

Your leadership, vision and dedication are invaluable to all of us at TEGNA. JASON COMBS back at the last year, what would you CFO, The E.W. Scripps Co. consider to be your company’s greatest NEW achievement? He replied, “Scripps’ ability 5 to financially navigate the economic down- In 2020, Lisa Knutson was turn while also balancing the financial and ranked at No. 4 on the Broadcast Best physical well-being of our employees has Finance Leaders list. She’s ineligible this been a tremendous achievement for the year as a result of her promotion: with the company. We completed a $3 billion acqui- closing of The E.W. Scripps Co.’s acquisi- sition that propels the company into new tion of Ion Media, Scripps EVP/CFO Lisa growth areas. Knutson is now leading its new national “From a personal perspective, I’ve television networks business. greatly enjoyed working with my team this Knutson’s changed role necessitated past year to push our real-time financial the selection of her replacement as analysis and data analytics to a new level. Scripps’ CFO. And that post went to its Over the next 12 months, I look forward VP of Financial Planning and Analysis — to working with our leadership team to someone already nationally recognized drive our current momentum forward and for his financial leadership. ensure that Scripps comes out of this eco- Now, Jason Combs finds himself on the nomic downturn a stronger company.” reader-generated Broadcast Best Finance Jason Combs Before joining Scripps in 2015, Combs Leaders list, ranking at No. 5. spent 14 years at Convergys Corp. in a vari- “Jason has been a strategic contribu- activity. His deep career in public company ety of roles, including corporate finance tor to our management team since joining finance will serve Scripps well as we focus and treasury. He played a key finance role the company just after our double-spin, on realizing the financial and business in several significant acquisitions, acted double-merge transaction with Journal benefits of our integration of Ion, move as the lead finance resource for one of the Communications,” Scripps President/CEO quickly to pay down our debt, and plan for company’s divisions, and oversaw a major Adam Symson said. “He has been a strong our next phase of growth.” redesign of the corporate management partner to Lisa in financial and strategic RBR+TVBR caught up with Combs and structure. planning and a key player in our M&A asked the following question: Looking

SUMMER 2021 · RBR.COM · 11

JOSÉ MOLINA pandemic, Latinos increasingly turned to CFO, Spanish Broadcasting our stations and assets for critical health System (SBS) and wellness information as the pandemic 6 2020 Rank: No. 6 has had an outsized impact on Latino communities across the country. We dis- Picking one achievement from the past seminated much-needed information and year is not easy for José Molina, given entertainment during COVID-19 and today the number of “incredible things” the have a stronger and more loyal audience team at SBS accomplished during unprec- that ever before.” edented times and upended working con- Looking ahead, Molina and the SBS team ditions. are “incredibly excited” about the year “Like many others in our industry, the ahead. “With our recapitalization behind pandemic had an enormous impact on our us, the entire SBS team can turn 100% business as advertisers greatly scaled back of our focus and drive to the successful their campaigns, live events were can- expansion of our multi-media Latino enter- celled, and our employees had to balance tainment platform and driving acceler- working from home with family and their ated audience growth of our audio, video, health,” Molina tells RBR+TVBR. “Despite digital, and experiential business units. the challenges related to the pandemic, We will continue serving Hispanics nation- we didn’t stand still. We forged ahead with wide, as well as the advertisers that target David our key strategic priorities and delivered their large purchasing power and growing Atkinson a number of major accomplishments this social, cultural, and political influence.” past year that we believe position SBS to Molina has served as CFO of SBS since ship team, Human Resources, and Help be an even stronger company when the January 2019. From 2001 to 2015, he was Desk departments have gone out of their pandemic is over.” SVP/Finance at SBS. In between, he served way to keep everyone feeling connected as CFO at the now-defunct MundoMax and valued through video staff meetings broadcast TV network. and other special events.” None of this would have been possible without the continued support of faithful DAVID ATKINSON listeners and donors. “They have been so Treasurer/CFO, Educational generous to keep the ministry financially Media Foundation stable, even while dealing with challenges 7 2020 Rank: No. 8 of their own,” Atkinson said. Personally, the pandemic forced As most media-industry executives rec- Atkinson to develop new ways of working ognize, Educational Media Foundation is a with the team and ensuring key objectives donation-based Christian music behemoth, are met. “I am surrounded by the best with its KLOVE and Air1 radio networks team in the world (I may be a bit biased), adding more and more markets by the and together we are able to not only keep week. Yet some may wonder how the CFO operations flowing smoothly but also grow of EMF ended up on the Broadcast Best in multiple new directions,” he said. Finance Leaders list once again — and a Meanwhile, EMF is in the midst of relo- notch higher than in our 2020 rankings. cating its longtime headquarters from As we’ve noted before, EMF has mush- California to Tennessee. “As you can imag- roomed to become the No. 2 licensee of ine, that is no small undertaking,” Atkinson José Molina radio stations in the U.S., behind iHeart- noted. “This is a team that can make it Media. It has an impressive array of happen while still preserving the culture The accomplishment for SBS that Molina properties in the top markets. In 2020, that makes our organization such a great believes stands out the most is the com- readers of RBR+TVBR argued for David place to work. I’m thrilled to be able to pletion of refinancing for the company. The Atkinson’s nomination as a write-in candi- continue to learn and grow professionally agreement marked the end of a multi-year date. They’ve spoken up again in 2021. as my role expands. God is doing incred- effort to strengthen SBS’s capital structure “This past year Educational Media ible things through EMF, and I’m so glad and best position it for sustainable long- Foundation has not only survived but to be along for the ride. I am excited to term growth in the years to come. expanded into new exciting areas of minis- consider all the new and creative ways — Another major highlight — both for try, all while keeping our radio broadcast- beyond radio — EMF will be able to reach the company and for Molina — is how ing strong and growing,” Atkinson told its audience over the next 12 months.” SBS’s commitment to Hispanic consumers RBR+TVBR. “I’ve been so impressed with Atkinson began his career at EMF in became ever stronger during the pan- our team’s ability to persevere during such 1998 as Controller. Prior to joining EMF, demic. “We have operated with an unwav- a challenging time while simultaneously he served in the United States Navy as ering commitment to serving the Latino breaking so much new ground.” an Electronic Warfare Technician and community for over four decades. Our love EMF was blessed to be able to keep all then, after obtaining his business degree, for our audience and the deep connection team members employed throughout the worked as an auditor at Price Waterhouse they have with our brands and talent has year, despite COVID-19. “In fact, our team LLP in Sacramento. never been clearer. In the midst of the actually grew,” Atkinson said. “Our leader-

SUMMER 2021 · RBR.COM · 13 initiatives and strategy for the company’s stations across the country, Dave Bestler JOHN J. DRAIN said, “I really look forward to him helping CFO, Hearst Television Hubbard Radio continue to be leaders in the 2020 Rank: No. 10 ever-changing digital landscape.” 9 The prepared comment was genuine, This autumn, John J. Drain will as it demonstrated just how passion- celebrate five years as Hearst Television’s ate Bestler is about the company and its CFO, having risen from SVP/Finance. He employees. That’s perhaps the best reason joined Hearst after serving as acting COO why this 17-year Hubbard veteran — hired of Ultimark Products LLC and, before as VP/GM of Hubbard’s flagship FM radio that, as the seven-year SVP of Finance station, KSTP-FM “KS95” in Minneapolis and Administration at Comcast Spotlight. — joined the company following a stint as Earlier in his career, he served as CFO of Director of Sales for Cox Radio. the One-on-One Sports Radio Network, Bestler began his career in radio in which in 2001 became the Sporting News August 1989, as Assistant Controller for CBS Radio Network following its purchase by Radio’s WCCO-AM in Minneapolis. He’d been Vulcan Ventures. Dave Bestler a senior accountant at Ernst & Young, and Drain has also been associated with the shift to WCCO sparked a 31-year career KUTV-2 in Salt Lake City and the former in broadcast media. Among the highlights: WOKR-13 (now WHAM-TV) in Rochester, DAVE BESTLER playing a key role in the March 2011 agree- N.Y., as CFO of Hughes Broadcasting EVP/CFO, Hubbard ment to acquire Bonneville International’s Partners from 1991-1995. Broadcasting radio stations in Chicago, Cincinnati, and With 30 years of experience in media 8 2020 Rank: No. 9 Washington, D.C., for $505 million. bookended by broadcast TV, Drain says he That experience led Hubbard to pro- is “very proud” to be a part of the Hearst In May 2015, when Hubbard Broadcasting/ mote Bestler to his current role and gave Television team — especially after a most Minneapolis Digital Director Jeremy Sinon Hubbard the No. 1-billing radio brand in challenging year for all. widened his duties by taking on national the U.S.: WTOP. “The team members of Hearst Television oversight of day-to-day corporate digital — across every function — performed

A SPECIAL CONGRATULATIONS TO OUR VERY OWN "MR. CFO" DAVID ATKINSON

CONGRATULATIONS TO THE BEST FINANCE LEADERS OF 2021!

14 · RBR.COM · SUMMER 2021 ated meaningful, compelling stories that team-building, and professional growth. I informed the communities we serve, fulfill- also foresee an improving business envi- ing our commitment as broadcasters.” ronment that will allow us to strengthen One example of this is Hearst’s ongo- our market position and launch innovative ing “Project CommUNITY” to investigate, solutions for our viewers, advertisers, chronicle, and study initiatives across the and partners.” country focused on uniting people within their communities. “Our stations also raised more than $30 million in COVID-19 “The opportunity to get relief dollars for our communities,” Drain says. The past year presented many highs and back to an in-person lows and personal adjustments to thrive in a remote work environment, he adds. “The office presence will be a loss of in-person connections was difficult, but our team quickly adapted, innovated, significant milestone; less and maintained a high performance level. Words are not enough to convey my pride Zoom and more in-person and admiration for the entire Hearst Television team and the perseverance they meetings.” demonstrated throughout this past year.” — John J. Drain John J. Drain Looking ahead to 2022, Drain remains “very optimistic” about the next 12 remarkably over the past year, under months. “The opportunity to get back to clearly demanding circumstances,” Drain an in-person office presence will be a sig- tells RBR+TVBR. “Our stations and jour- nificant milestone; less Zoom and more in- nalists faced a multitude of challenges and person meetings,” he says. “A strong cul- critical issues that gripped our communi- ture requires in-person connections and ties. Yet, through it all, our journalists cre- relationships that facilitate innovation,

SUMMER 2021 · RBR.COM · 15 From a financial perspective, several KIMBERLY PARKER large projects were in the works for 2020. EVP/CFO, Graham Media Then the COVID-19 virus arrived in North Group America. “We were 14 months into a 10 NEW centralized accounts receivable model,” Parker says. “We had just begun centraliz- “I am not sure that any of us could have ing our accounts payable functions in late predicted in mid-March of last year what 2019 and launched the hub in February a roller coaster ride the next 16 months 2021. We had an ERP conversion planned would bring us all.” to start in first quarter. While adjustments That’s the one-sentence assessment of when we converted to our new ERP system how Kimberly Parker and her colleagues had to be made, having our AR and AP at Graham Media Group have surfed hubs in place prior to March 2020 put us through the swells associated with the at an advantage, given all our finance staff COVID-19 pandemic. Parker has been with were working from home. Streamlining GMG since 2007, when she started there procedures and reducing the reliance on as Business Manager for The CW affiliate paper and the need to go into the office in Jacksonville, WCWJ-TV, and the mar- put us ahead of the curve that many other ket’s top-rated local news leader, unaffili- companies had to get to quickly keep Melissa Mitchell ated WJXT-4. things progressing.” As GMG continues to review all functions and Corporate Controller. Before that, she within the finance side of the business, was the Market Controller for CBS Radio Parker is proud of all of the achievements in Denver. It was a role that kept her in and progress the company’s finance teams radio: Melissa Mitchell’s previous role have made. was at Foot Locker, as a Senior Manager of Parker began her broadcasting career Strategic Planning. From April 1996-August in 1996, working for broadcast software 1997, she served as Assistant Controller of companies Enterprise Systems Group and Chancellor Broadcasting Co., working from Marketron. Dallas. Looking back at the last year, what does Mitchell consider to be Bonneville’s great- MELISSA MITCHELL est achievement? Corporate Controller, Bonn- “As everyone’s aware, 2020 was a eville International Corp. year of many challenges, yet Bonneville 11 NEW invested in their biggest asset — their people,” she tells RBR+TVBR. “One of the Joining Kimberly Parker as a new obvious areas of investment is financial, entrant on this year’s Broadcast Best and Bonneville not only maintained pay, Finance Leaders rankings is an individual but they also took care of our commis- Kimberly Parker who joined Bonneville in July 2015, fol- sioned sales staff, who saw a 50% reduc- lowing a decade at the former Lincoln tions in sales.” Parker became EVP/CFO in 2018, and Financial Media, where she served as VP What elevated an investment to an is responsible for all aspects of the com- achievement, Mitchell adds, was a focus pany’s finance and traffic business opera- on staff well-being. “In a time when other tions for the corporate office in Chicago, “I was never a proponent companies have problems filling positions, its seven television stations, Graham Media Bonneville’s investment in their people Digital, and the Social News Desk. of working from home; will certainly pay off with retention and When the company’s financial leader engagement,” she says. reflects on the first 30 days of “our new Mitchell also notes that a personal world,” including closing all of its buildings however, I have learned achievement was realized in understand- to 90% of staff and navigating through ing how important it is to have clear work-at-home logistics, she says, “All a ton about others and expectations and trust in others. “I was of these things were monumental tasks never a proponent of working from home; for everyone involved that needed to be myself working from home however, I have learned a ton about thoughtfully laid out and well planned.” others and myself working from home The GMG corporate and market-level over the last year. I like the over the last year. I like the change, the leadership teams rallied together; much of options, and watching people grow in the staff was up and running from home change, the options, and their positions.” within two weeks. “We all found new ways to do our jobs and communicate with each watching people grow in Editor’s Note: Bonneville SVP/CFO Kent Nate other internally and externally, making us appeared on our 2020 rankings, at No. 12. not only more efficient, but stronger,” says Mitchell’s appearance is based on reader Parker, who is a first-time honoree in the their positions.” nominations. Broadcast Best Finance Leaders list. – Melissa Mitchell

16 · RBR.COM · SUMMER 2021 in Richmond, which is one step closer to fruition — bringing Urban One more non- traditional revenue that’s not dependent on carriage fees or traditional advertising. With Alfred Liggins III in command of the company founded as Radio One by his mother, Cathy Hughes, Urban One is today the owner of national radio entity Reach Media and cable TV networks Cleo and TV One. Assisting as the CFO is Peter Peter D. Thompson Thompson, who has been in the role since February 2008. He joined the company in October 2007 as EVP/Business Development. PETER D. Before joining Urban One, Thompson THOMPSON spent 13 years at Universal Music in the Paul Rahmlow EVP/CFO, Urban One United Kingdom, including five years serv- 12 NEW ing as CFO. “This past year was What a year it’s been for Urban One, the company superserving African Americans. PAUL RAHMLOW surely a test for all of the From social justice protests to Black Lives CFO, Midwest Matter-fueled diversity and inclusion initia- Communications financial leaders.” tives across Fortune 500 companies, Urban 13 2020 Rank: No. 14 One has been right in the middle of the mix. – Paul Rahmlow For investors, there’s renewed excitement “This past year was surely a test for in Urban One, with McDonald’s recently all of the financial leaders,” says Paul ing positions at River Valley Bank and the becoming the latest company to state that Rahmlow, who has been with Midwest Wipfli CPA accounting and consulting firm. it’s upping its investment in Black-owned Communications since 1999. Before joining This marks the third year Rahmlow has media. Then there’s the ONE Casino + Resort Midwest, Rahmlow held senior account- been honored as a Broadcast Best Finance

SUMMER 2021 · RBR.COM · 17 Leader. And he remains humble, simply for a company that is rapidly gaining mar- Speaking to RBR+TVBR, Trujillo says, “I stating, “Thank you for the recognition.” ket share in Los Angeles. Meruelo owns a am deeply impressed by our team. First and Rahmlow’s other industry efforts include pair of Spanish-language broadcast TV sta- foremost, everyone pulled together to keep his role as a Media Financial Management tions. And it has a formidable radio pres- each other safe in the office. This only works Association Board of Directors member. ence, with classic hip-hop KDAY and reg- when everyone is committed, like the quint- Midwest owns some 82 radio stations gaetón-flavored “Cali 93.9” joined essential example of a chain only being as across the U.S. and is helmed by Duke Wright. by Power 106 and KLOS — a pair strong as its weakest link. Our team, our of legendary FMs. chain, did not break. With President Otto Padron at “Second, our team made an aggres- TOMMY TRUJILLO the helm and former LBI Media sive financial reforecast in June 2020 for SVP of Finance, Meruelo COO Winter Horton in a similar the remainder of the year, which we were Media role at Meruelo, Tommy Trujillo able to exceed. This took incredible 14 2020 Ranking: No. 15 is again a nationally recog- efforts from the team. They nized financial leader in took on more responsibili- “What a year it has been,” says Tommy the eyes of RBR+TVBR ties than ever to make ends Trujillo, who stewards the financial needs readers. meet, and they did it with pride. Likewise, I have a great deal of pride when “Everyone pulled together to keep each I compare our private results with those of the other safe in the office. This only works largest public radio com- panies.” when everyone is committed, like the As Southern California emerges from a difficult quintessential example of a chain only being pandemic, Trujillo looks forward to the ability to “produce, promote, and as strong as its weakest link.” attend concerts again.” He – Tommy Trujillo, SVP of Finance, Meruelo Media Tommy Trujillo says, “We have waited so long

MERUELO MEDIA Chris Ripley CONGRATULATES

ONE OF THE TOP FINANCIAL LEADERS OF 2021

THANK YOU FOR YOUR LEADERSHIP!

18 · RBR.COM · SUMMER 2021 to get back out in our community, which is was able to continue to deliver high- also why we want to make sure we do it in a quality content and programming during way where everyone is as safe as possible. the pandemic without a hiccup,” he tells Theme parks and sporting events are cur- RBR+TVBR. “Additionally, our account- rently paving the road on how to assemble ing and finance team met the challenge of large groups going forward.” working from home seamlessly.” Meruelo will be watching closely as the For Masyr, he marvels in his ability to traffic volume continues to build across the quickly transition from working in his Southland freeways. office with two monitors to his bedroom on just a laptop. “Through this time at home, I have memorized many cell phone EVAN MASYR numbers and also managed to not gain any EVP/CFO, Salem Media weight despite the refrigerator and pantry Group Evan Masyr being so close!” 15 NEW What is he most looking forward to in the stations poised to attract at least some of next 12 months? “Seeing my amazing team Asked why Evan Masyr should be among the late Rush Limbaugh’s former audience. back in the office when we are allowed to re- this year’s Broadcast Best Finance Leaders, Masyr has been Chief Financial Officer gather. While I know it will look a bit different, one RBR+TVBR reader responded, “Evan of Salem Media Group since July 2007. He with staff given some flexibility to work from has led Salem through the trying times began his career with Salem in February home, I have truly missed seeing everyone.” experienced by all radio companies. His 2000 as Controller. Since being at Salem, can-do attitude comes shining through he has been involved in raising more than ABOUT RBR+TVBR’s BROADCAST BEST when the times are most difficult!” $1.5 billion in capital. Most recently, he FINANCE LEADERS: This second annual Honor We couldn’t have said it better ourselves. raised $255 million in senior secured notes Roll is produced from RBR+TVBR reader Salem Media Group turned an important and a $30 million revolver in May 2017 to nominations, which were gathered in April fiscal corner at the end of 2020, and this refinance all of Salem’s debt. 2021. Rankings are based on nomination momentum continued into 2021, with its Looking back at the last year, what does totals, in addition to research and analysis by publishing unit enjoying a strong Christmas Masyr consider to be Salem’s greatest the RBR+TVBR editorial department. © 2021 release period and its secular spoken word achievement? “The entire organization Streamline Publishing. Media Monetization From More New Technology

HD Radio data services. Edge computing, and its potential nontraditional revenue opportunity for broadcast TV and radio. These are some of the new-generation dollar magnets that haven’t been discussed much across the broadcast media industry. That’s worth a closer look. Ashruf El-Dinary, the SVP of Digital Platforms for HD Radio and DTS parent Xperi Corporation, is on the forefront of radio broadcasting applications in the “Internet of Things” and so-called “smart cities” of the not-too-distant future. Among these applications: HD Radio data services. Some “radical ideas” around radio broadcasting were first shared by El-Dinary devices in local markets,” El-Dinary says. looking to deliver content as well, and in a during NAB Show Premiere, the NAB’s What, exactly, does that mean? Data safe and secure way that is cost-effective, virtual conference held in mid-April. “Yes, and control messaging, which require El-Dinary predicts. we believe radio broadcasters can utilize connectivity, will power the smart city and Today’s radio broadcasting companies their stations to send configuration control the “IoT” world. It is poised to be a “huge could be among those very providers. But messages to thousands of millions of industry,” with many service providers how can radio stations participate?

20 · RBR.COM · SUMMER 2021 “Challenges for 5G can lead adoption of these technologies,” Chapman noted during an NAB Show Premiere session on the topic held in late April. to opportunities for radio Future adoption of edge computing, in the view of Friedlander and Chapman, broadcasters.” starts with the NextGen TV rollout. — Ashruf El-Dinary Continued cord-cutting is also a factor. “It is a mind-change for broadcasters,” Friedlander said, “from decades of one- market, their data schedule, and priority to-many delivery to really being able requirements,” he adds. to deliver directly, knowing where that A low-cost, low-power IoT receiver device is located. It becomes a one-to-one module has been built. relationship, and that is a real important “We believe there is an opportunity, game-changer for those companies.” and value, for the broadcast industry,” That’s great news for the broadcast TV El-Dinary concludes. “There are great ideas industry. But the radio industry appears to be that developers are constantly developing. more than a step behind, with broadcasters’ We see the need to work together and discussions scant among those using HD establish the cross-industry partnerships to Radio and audio to reach consumers. drive data services forward.” “Edge will play out differently across Leaders at Verizon Media and Kearney TV versus radio broadcasters,” Chapman also believe there is an opportunity, and said, “because of the inherent differences value, for the broadcast media industry in between the two industry sub-sectors.” advances in computing and networking. That said, edge technologies are poised This involves edge computing — and to have an above-average impact on how companies could use it to advance general broadcast industry innovation. their strategic agendas was a key topic And, Friedlander and Chapman claim, edge of discussion for Kearney Partner and computing could drive innovation across Americas Media Lead Mike Chapman and the entire broadcasting ecosystem, with Verizon Media Senior Director of Product targeted content and measurement and Marketing Jason Friedlander Sr. engagement opportunities a part of the But what is the knowledge level on edge mix. computing at a radio or TV broadcasting Asked by RBR+TVBR how many radio The progression of digital radio company? Ask your chief engineer. Within and TV executives were aware of what “edge broadcasting has been a key priority for a decade, edge computing has gone computing” even was before being queried by Xperi and its HD Radio team. And internet mainstream across several industries. Chapman and Friedlander, Chapman replied, services for the car, the home, and portable Yet the distributed computing paradigm “Most of the executives that we interviewed devices — something discussed largely by — bringing computation and data storage had some knowledge of the topic; the TV and the ATSC 3.0 rollout — is also a topic closer to the location where it is needed degree of knowledge varied. Our executive radio should be hip to. to improve response times and save panel consisted primarily of tech and digital Data, text, and images can be bandwidth — has yet to make serious executives. So the challenge will be educating sent through the HD digital services inroads in broadcasting. broadcasting business executives of the platform, El-Dinary notes. Fueled by the NAB’s PILOT initiative, opportunities available from edge.” “Radio is a great transmission media, and Chapman partnered with Friedlander to The nascent technology, for the most we can do more with that band,” he says. see if it is a revenue opportunity, a cost- part, saw moderate awareness among But what about 5G? Achieving data savings opportunity, or both. As they see broadcasters. In short, it depends on the capacity, El-Dinary says, will be heavily it, edge has the potential to become the size of the broadcast facility. And radio dependent on RF transmission. As core element of broadcasters’ technology industry knowledge was lacking. such, “Challenges for 5G can lead to architectures as they move into more When could edge be rolled out? The year opportunities for radio broadcasters.” IP-based content delivery. 2025 could be a big year for broadcast El-Dinary also likes the benefits of Some broadcasters say they expect media adoption. the “secure one-to-many low-cost data device-level edge processing for some The FCC and D.C. lawmakers could play a services” opportunity in urban and rural applications where low latency and speed big role in that timeline. As Chapman and locales, which radio has at its fingertips. are important. Friedlander see it, pervasive use of edge in As of April, the content-distribution As such, the definition of edge for the coming years requires fair government system was up and running on a small broadcasting, as Verizon and Kearney see regulatory policy, investment capacity scale. “We are testing in a few different it, is “data and compute processing at among broadcast media companies, and markets, providing message services to the tail end of a broadcaster’s IP-based data privacy and security. prototype receivers,” El-Dinary says. The networks,” including ATSC 3.0 and next- Whether under Democratic or GOP control, service manages scheduling, content generation digital — with processing on the edge computing relies on Washington just as routing, and the security aspects of this devices themselves for select applications. much as the NAB’s members. communications system. “Service providers “To finally have a starting point for this This sets the stage for numerous only need to access it through a simple web definition that the industry can rally around possibilities, and profit-making app or portal, providing the details for their is going to be important toward driving the opportunities, in the years ahead.

SUMMER 2021 · RBR.COM · 21 How ‘IoT’ Can Make Monitoring Easier

Using IoT systems to monitor points beds. There are 20,000 hos- subpar performance in those along the contribution and distribu- pitals of that size worldwide. particular ranks. Because tion network, through the studios, This speaks to the fact they are generating excess headends, and on to the last mile, is that everything produced heat, by definition they are a technological advance broadcast today, including smart- using up a lot of cooling. media should know more about. phones, comes with sensors And they are probably doing Brick Eksten, CEO of Qligent, believes that are producing data on something critical. These are there are many reasons this is so. a continuous basis. “The the types of things, from an As broadcast systems increasingly move average car has something engineer’s perspective, one to remote, cloud, and virtualization, there is like 200 sensors as of two Brick Eksten may say are critical, so they a greater need to rethink how radio and TV years ago and is projected put it all in one spot so it is stations monitor the systems they rely on. to go over 500 sensors in three years. easy to manage. The problem: it generates This is where the “Internet of Things” dis- Everything around us is connected.” a lot of heat and has a strong power load.” cussion can greatly aid a media property. This leads Eksten to note how things What are some of the things decision- such as a thermostat, a flooding alarm, or NEW TECH, NO JOB LOSSES makers signing off on a purchase order an air quality sensor all require IoT. A typical data center includes power should take into consideration? Now, think of how a radio or televi- conditioners, cooling and heating, support “The number one thing to think about as a sion broadcasting company can benefit. systems, and, importantly, people. Is there broadcaster who maybe isn’t thinking about Everything from building health to the state perhaps a mistaken belief that the efficien- iOT is the opportunity cost,” Eksten says. of the equipment inside the building, and cies that come with IoT technologies can While defining “Internet of Things” may even the relevant data regarding the sur- bring a reduction in force — something still be a bit challenging to some, Eksten roundings of your remote transmitter site media companies have looked toward in paints a startling portrait of what’s to come. or power fluctuations happening in your tough times before, with the engineering “There is projected to be over 200 bil- local grid, can be easily monitored through department a big target? lion sensors in the world by the end of the IoT technology. After contemplating the question, Eksten next year — 200 billion,” he says. “And “Tracking the trends and tracking what replies, “I think the question is, ‘Does all of every single one of those sensors is a foun- is happening with things at a low level, this information guarantee a path toward tain of unique information that becomes continuously taking the pulse of these automation and a reduction in the work- more relevant the closer it is to the things systems and making sure things are oper- force?’ My answer is no. You still need that you operate every day.” ating, will give you insight into your opera- people. What IoT monitoring will do for you Take, for instance, a hospital. Particular tional costs,” Eksten says. “Thirty percent is the question. Computers do a better job of patient information can come from a bed, of your data center costs go into power long-term sustained focus. If you wanted to and the average hospital bed in 2022 is and cooling alone. If you have equip- watch all of your equipment at once, forever, projected to have 300 sensors. The top ment or racks that are out of balance with you wouldn’t try to solve that by staffing up hospitals in the U.S. have an average of 900 respect to power, you are going to have people and putting them in shifts. You’d wire

22 · RBR.COM · SUMMER 2021 AUDIO ANALYTICS, ON THE EDGE

With a new focus on edge computing and network “What used to be a simple ‘failover’ playlist in monitoring, Swiss technology company Barix has the past as local playout capability on our decoder put research and development resources into audio devices is growing into a much more sophisticated analytics being processed on the device in place playout system,” Brader says. “The intelligence moves before uploading to the cloud. to the edge.” Barix CEO Reto Brader shares the importance of Security and data protection in the unit as well as this, and what broadcast media companies should in transmission is a big topic. In response, Barix in know about this technological advancement. recent years has offered IPAM400-based products. Still, “Computation power is constantly increasing and Brader says there is no single solution for all customers. is available at very attractive cost,” he says. “This Reto Brader Then there’s Barix’s SilenceMonitor, which continu- means that ‘intelligence’ can be moved into the ously checks an audio stream for fluctuations. How edge. Audio analytics is one example.” has that aided broadcast media in ensuring that a problem can be At Barix, the Instreamer encoder streams audio back from remote prevented before it happens? locations, such as transmitter sites, to listen exclusively to the envi- “The number of staff that need to facilitate the operations of ronmental sounds. “Traditionally, a service technician would drive broadcast infrastructure continues to reduce,” Brader says. “Small to the transmission site and would assess the issue when leaving the radio stations outsource the technology maintenance to specialized car,” Brader says. “In this case, the technician could detect sounds firms or individuals that make a living from maintaining multiple coming from the cooling system. These technicians later bought broadcasters and their transmission facilities.” Instreamers to listen in to the transmitter room without having to SilenceMonitor listens to an audio signal from a receiver and drive out to the site.” alarms the user on his mobile device when there is an issue. Audio analytics will bring this application one step further, Brader Monitoring Barionets is also a key opportunity that Barix prod- predicts. ucts can give a broadcast media company. What is a Barionet? “Using audio analytics, one can now listen to the sounds from Brader describes it as “an intelligent Input/output device connecting their offices, and decide when the sound is not ‘normal’ and issue to remote sites via an IP network.” an alarm,” he says. “The technician responsible for repairs can then He explains, “People use Barionet devices for everything that listen at his or her location in the office or on a mobile phone and needs to be remote-controlled, from activating doors to open and assess the problem acoustically.” close, to triggering remote control equipment, to measuring and The benefit is that nobody needs to listen in to the location just to monitoring important parameters from voltages to temperature, assess that everything is fine. and to switch lights on and off, for example. It can also switch “The technician only invests that time and effort when the device redundancy equipment during main system failures, or simply thinks something is wrong based on the analytics,” Brader says. extend Modbus or RS-232 interfaces over a network. These are pro- Beyond audio analytics, Barix is working on edge computing solu- grammable devices that can be truly intelligent. The Barionet can tions to push playout infrastructure further and further out to the make decisions locally and take action, even if the network is not edge or, in broadcast terms, to the transmission towers. available for a moment.” them up and through sensors let the systems BEHIND THE CURVE? monitor them because the systems never “I think the question Any one system is susceptible to a critical sleep. They never lose focus.” failure, and integrating the management of On the flip side, IoT isn’t going to help is, ‘Does all of this these systems sounds fairly logical. But are a radio or TV station populate a rack, or radio and TV stations falling behind on the decide the best routing or wiring or plan- information guarantee a technology afforded to them today? ning or engineering. “That’s a completely “Yes,” Eksten laments. “The reason is different problem set,” he says. “This path toward automation that the rest of the world operates in a allows people to focus on the things they transaction model. When you go to check need to focus on more critically.” your bank account balance, the system The performance of the playout, distribu- and a reduction in the that allows you to check the bank account tion, or delivery supply chains would seem balance didn’t exist until you asked it to. It to be a No. 1 C-Suite concern. Is it? workforce?’ My answer is was built on a model that’s sitting there, “It should be,” Eksten says. “The general static, until the load demands and a certain direction of the industry is toward a direct- no. You still need people.” threshold is reached.” to-consumer model. The opportunity, espe- — Brick Eksten In the world of broadcasting, static sys- cially as we look to that playout and supply tems are a way of life in engineering. But chain to become more dynamic, moving into Eksten adds: “Therefore, you have this Eksten says, “We have to start thinking cloud and data center where it is more virtu- unique opportunity where you can look more dynamically.” This includes the way alized and on-demand, monitoring that sup- from the demographics backwards, to the rest of the world — including Netflix — ply chain from the perspective of delivery decide how best to deliver the content or thinks: in terms of demand, backward. is — on the source side — about making sure if there is another new opportunity that is This means thinking about the delivery of that you are fulfilling all of your contracts created through the supply chain.” the content before the creation of the content. around compliance, and meeting all of your When one looks at the cost centers, The result? More optimization oppor- regulatory obligations.” there are playout and distribution; these tunities, bringing freedom for broadcast If one is doing this in a direct-to-con- are typically thought of as fixed. But, media companies to take their engineer- sumer model, then one is extending the Eksten says, that is the case only if one is ing staff toward more critical, human- contract all the way out to the consumer, monitoring it well. essential needs.

SUMMER 2021 · RBR.COM · 23 November 16, 2021 Harvard Club, New York City radioinkforecast.com

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