These ratings do not reflect the 97 Rock toast debacle, but they do offer some insight regarding the rest of the market post Christmas. Everything That Rocks debuted on 92.9 the day before Thanksgiving 2020, so there have been three full months (Jan-Feb-Mar 2021) of measurement. It's somewhat surprising to see the new format sliding to a 1.3 rather than trending up or at least holding steady around 2.5.
It could be that some Jack FM P1 listeners have left, while not enough new P1s have been cultivated to replace the listeners who booked. With the possible exception of Howard Stern years ago, talk-based morning drive shows take a long time to establish, especially in the face of intense, established competition on 88.7, 93.7, 96.9 (toast bits not withstanding), 103.3, 106.5 and 550 and 930.
It could be that morning drive on 92.9 is dragging down the Mon-Sun 6 a.m.-midnight composite ratings, while at the same time the music intensive midday, afternoon drive and night dayparts are performing well in the target demo. Formats sometimes can look weak in the broad view Persons 12+ perspective, but perform well in the target demographics.
OTOH, some may recall that when Stern was on 92.9 (Howard Stern in the morning, Classic Rock all day), WBUF, like most Stern stations, had massive morning numbers but the ratings slid three to five shares after Stern signed off around 11 a.m. Still, WBUF did better than a 1.3 Persons 12+.
Unless dayparts and demos are posted, it's all speculation. But that's what's done here, isn't it.