Thanks to its 2017 acquisition of CBS Radio, Audacy has an enviable portfolio of spoken word content. While news, talk and sports programming are expensive to produce, they also don’t require paying royalties to content owners like music programming does. With high-performing spoken word stations across the country, including in the largest markets, Audacy is able to derive 40% of its revenues from content it owns and produces.
“That’s unique amongst our competitive set and it’s given us a lot of permission to enter things like podcasting, to enter things like our new BetQL sports betting network and to enter other areas,” Chief Digital Officer J.D. Crowley said last week during the Variety Entertainment & Technology Summit. “And spoken word also…
