![\"emmis_logo\"](\"https:\/\/bejone03.expressions.syr.edu\/trf235\/files\/2016\/02\/emmis_logo.jpg\"){kind=logo}
<\/a>1<\/a>\u00a0Emmis Communications’ Logo<\/p><\/div>\n Emmis Communications<\/span><\/p>\n 40 Monument Circle, Suite 700<\/p>\n Indianapolis, IN 46204<\/p>\n \u00a0http:\/\/www.emmis.com<\/a><\/p>\n About\u00a0<\/strong><\/p>\n Emmis Communications is a media conglomerate based in Indianapolis that specializes in broadcast radio and publishing. The company holds\u00a024\u00a0radio stations in six\u00a0different markets, as well as six magazine publications in five different markets.\u00a0The company was established in 1979 when Jeff Smulyan purchased WSVL, a radio station in Shelbyville, Indiana. After a few years of struggling to get the operation going, WENS was finally launched, penetrating the market as\u00a0an adult contemporary format\u2014the station was nearly an automatic hit. \u00a0One significant member of the newly launched radio station was David Letterman who was just entering\u00a0broadcast as a career. His fast appeal\u00a0as a personality contributed mightily to the overall success of the radio station. \u00a0With the success of\u00a0the companies first acquisition, Smulyan used his profits and reinvested them into the company, eventually turning Emmis Communications into a multi-media company that today ranks among the top 10 in the radio industry in the United States.\u00a02<\/a><\/p>\n 3<\/a>\u00a0Jeff Smulyan – Founder and Board Member – Emmis Communications<\/p><\/div>\n Jeff Smulyan serves as the founder and Chairman of the Board of Emmis Communications. In 1989, Smulyan and a group of investors purchased the Seattle Mariners. Only three years later they decided to sell it. Evidently, Jeff\u00a0isn\u2019t solely a radio guy, he has immersed Emmis into\u00a0the magazine\u00a0publication industry as well as the digital marketplace. He graduated from the University of Southern California with a B.A. in history and Telecommunications, as well as earned a Juris Doctor degree from the USC Law School.\u00a04<\/a><\/p>\n 5<\/a>\u00a0Rick Cummings – President of Programming<\/p><\/div>\n Rick Cummings joined the media company as its first program director for WENS-FM. He later went on to become the national program director for Emmis Communications in 1984. Later on in 2002, he became the President of Programming.6<\/a><\/p>\n RADIO:\u00a0<\/strong><\/span>Emmis has a variety of stations in a multitude of markets, however a few in particular help bring in the majority of its revenues. These include its two flagship stations: Power 106<\/em> and Hot 97<\/em><\/p>\n Power 106<\/strong><\/p>\n 7<\/a>\u00a0Power 106<\/p><\/div>\n Power 106, Emmis\u2019 Los Angeles-based hip-hop station, is a huge brand and has been the number one urban-hit station in LA for years. The station serves as a portal to debut hits as well as break new artists as millions of people tune in each day. For years KPWR (Power 106) had \u201cBig Boy\u201d host the morning show. However, last\u00a0year the huge radio company Clear Channe<\/em>l (IHeart Radio) entered the market as a clear competitor with the launch of 92.3. The largest radio conglomerate used its leverage to strip Power 106 of its long-time morning show host by offering him a bigger contract.\u00a0Since Big Boy left KPWR, the station has seen a serious dip in its ratings: the company moved from #5 in the market to #16 by the end of the year.\u00a08<\/a><\/p>\n 9<\/a>\u00a0Kanye West at Power 106<\/p><\/div>\n Hot 97<\/strong><\/p>\n 10<\/a>\u00a0Hot 97 Logo<\/p><\/div>\n WQHT or \u201cHot 97\u201d became the first all hip-hop station in 1992 when the format changed from dance to hip-hop and R&B. This change was in response to the station experiencing an all-time-low in ratings. Ever since, the station has been a powerhouse, trendsetting and defining hip-hop culture in the number one radio market, New York City. Hot 97’s principal demographic is 18-34 year olds. The station has facilitated the breaking of big time artists including: Jay Z, Nas, Chris Brown, Ne-Yo and 50 Cent.11<\/a><\/p>\n Concerts<\/strong><\/p>\n Every year Emmis Communication takes advantage of its powerful position in the music industry by hosting multiple music festivals. In Los Angeles, Power 106 puts on the concert ‘PowerHouse,’ which features many of the top hip-hop artists in the world. Additionally, the company’s New York hip-hop\u00a0radio station ‘Hot 97’ hosts the music festival “Summer Jam” which takes place at MetLife stadium in New York City. In recent news, Emmis Communications has expanded its ‘Summer Jam’ to Tokyo.<\/p>\n 12<\/a>\u00a0Summer Jam Takes Tokyo<\/p><\/div>\n Financial<\/strong><\/p>\n In the financial report released November 30th, 2015, Emmis Communications released its net revenues per sector of the company. Evidently, radio revenues were the highest at $132,789,000 nine months into the year. As compared to last year, the company is down almost $5 million in revenue. Revenues from publishing remained steady: only dropping in the $10,000 range. What stands out most is that the company generated a significantly higher amount in the field of ‘Emerging Technologies,’ which refers to online radio and digital advertising. In 2014, the company saw $318,000 in revenue, whereas in 2015 the company saw almost $1 million in revenue: $985,000.13<\/a><\/p>\n 14<\/a>\u00a0Financial Results for Q3<\/p><\/div>\n Emmis Communications or (EMMS) currently sells for 58 cents per share. Over the last month (since March 28th) the company’s stock price has fluctuated within a range of 10 cents. It has hit a high of .65 cents per share, meanwhile hitting a low of 55 cents per share.<\/p>\n 15<\/a>\u00a0EMMS Stock – Month<\/p><\/div>\n As shown below, the price has significantly wavered since 2012: it hit a high of over $3 per share, meanwhile also hitting a low of its current state, .58 cents per share. The company’s owner has attributed its fallen stock price to the recent struggles the company has faced in Los Angeles as well as the general consensus that radio is a declining industry.<\/p>\n 16<\/a>\u00a0EMMS Stock – Year<\/p><\/div>\n Recent News<\/strong><\/p>\n Due to the difficulties the company has seen with its flagship station KPWR, it has taken action to cut costs by laying off employees, cutting executive salaries and lowering its budget. After experiencing a weak fiscal quarter, the company laid off 32 employees, cutting about 3% of its workforce. In addition to the layoffs, the company is also shaving the salaries of all its senior executives. In an article published by\u00a0The Indy Star,<\/em> the company is looking to cut “$7.5 million from its budget, as well as $5.3 million from its radio properties.” Additionally, Smulyan decided not to renew the contract of Mike Corbin–someone who had worked for the company for nearly 10 years, as well as Deon Levingston, the company’s New York general manager.\u00a017<\/a><\/p>\n What’s to Come<\/strong><\/p>\n While the situation in Los Angeles as well as the decline of its stock price might suggest a variable future for the company, many believe that the low valuation is a result of an overreaction to a declining radio industry. While studies show that more and more people are using streaming services to consume music, there continues to remain strong\u00a0evidence showing that\u00a0radio is still the most dominant medium for music consumption. According to the Nielsen Total Audience Report, AM\/FM radio still reaches over 90% of all Americans and 223 million people each week.18<\/a><\/p>\n Sources:<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Emmis Communications by Jake Kalmenson Emmis Communications 40 Monument Circle, Suite 700 Indianapolis, IN 46204 \u00a0http:\/\/www.emmis.com About\u00a0 Emmis Communications is a media conglomerate based in Indianapolis that specializes in broadcast radio and publishing. The company holds\u00a024\u00a0radio stations in six\u00a0different markets, … Continue reading <\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a>\n