Beasley Broadcast Group reported $58.2 million in revenue for the third quarter of 2024, down 3.2% from last year.
This drop is partly due to selling their Wilmington station and closing some digital businesses. Despite this, Beasley saw growth in digital and political advertising. They earned $1.2 million in operating income this quarter, a significant improvement from last year’s $85.5 million loss, which included large non-cash impairment costs. This quarter’s net loss was $3.6 million, much lower than last year’s $67.5 million loss, as Beasley reduced expenses and interest costs. Digital revenue continues to grow, now making up 19.4% of total revenue. Beasley’s CEO, Caroline Beasley, noted that digital transformation and political ads helped offset challenges in traditional radio advertising. She emphasized ongoing efforts to streamline operations, improve finances, and focus on their digital platforms. To see the full report please click here.
