Beasley Second Quarter Net Revenue Falls 4.8%
Net revenue for the second quarter of 2024 was $60.4 million, a decline of 4.8% from the same period in 2023. Beasley Broadcast Group’s net loss shrank from $10.4 million in Q2 of 2023 to $276,000 in the second quarter of 2024. Beasley CEO Caroline Beasley states, “Beasley’s second quarter results highlight the ongoing progress we are making to position the company for sustainable, profitable growth. The continued
success of our digital transformation strategy led to a 10.4% year-over-year increase in same-station second quarter digital revenue, partially offsetting ongoing challenges related to softness in the audio advertising spot market. Digital revenue accounted for nearly 22% of total second quarter revenue, in-line with our full-year 2024 goal of 20% to 25% of total revenue. On the new business front, our dedicated sales teams are leveraging the audience reach and engagement of our platform to attract new advertisers. We have and will continue to see the benefit of political revenue through the end of year, and at the same time, we are taking aggressive action to address near-term challenges through expense management initiatives, which drove approximately $2 million in expense savings compared to the prior year. We expect to achieve $10 million in annualized expense savings.”
When it comes to advertisers who cancel, Elon Musk said it loud and clear at the NY Times Dealbook Summit, “Go F-Yourself.” He claimed advertisers who objected to content on X were “blackmailing him with money” by canceling ad campaigns on his X platform.
Today, consultant Holland Cooke writes, “With 850-plus confirmed 2024 tornadoes – just halfway through the season – each night’s network TV newscast can make you “thankful that we don’t live THERE…” And with more gnarly weather on the way this week across much of the USA, he reckons that, “regardless of your format, your station can be the weather button that listeners will push, and advertisers can sponsor.” And he suggests a tactic proven over 80 years ago. 
says that key points for advertisers to know about podcast listeners include: 1) More people than ever are listening to podcasts: 67% of the 12+ population has ever listened to a podcast; 47% of the 12+ population are monthly podcast listeners and 34% are weekly listeners; 2) Listeners are spending more time than ever with podcasts: In 2014, out of the daily time spent listening to all audio by those age 13+, 2% was spent with podcasts. In 2024, that number more than quadrupled and podcasts now account for 11% of daily time with audio. Twenty-three percent of weekly podcast listeners spend 10 hours or more listening to the medium each week; and 3) Podcasts reach all generations: 29% of kids age 6-12, 59% of those age 12-34, 55% of those age 35-54, and 27% of those age 55+ are monthly podcast listeners. 
Actor Hugh Grant’s Tweet called it “The destruction of the human experience. Courtesy of Silicon Valley.” He was reacting to Apple’s 
of $3.5 million for the same period in 2023, “primarily due to the $6 million gain on the sale of an investment in BMI holdings and lower interest expense.” Company CEO Caroline Beasley states, “Beasley continues to advance our core initiatives, which are focused on driving revenue and cash flow, including our digital transformation, revenue diversification and expense management initiatives. We expect digital to account for between 20% and 25% of total revenue in 2024, driven by the ongoing growth and success of our premium content creation and digital services. On the new business front, our dedicated sales teams are leveraging the tremendous audience reach and engagement of our platform to attract new advertisers. In summary, Beasley’s underlying fundamentals – mainly, our local audio and digital platforms and audience engagement – remain strong. We are proud of our teams’ steadfast commitment to delivering exceptional content and services to our listeners, advertisers, online users and sports fans, and remain confident that the actions we are taking to transform our company and strengthen our balance sheet, are laying the foundation for future growth and success.”
Ratings – and advertisers’ results – reward what listeners remember, what sticks-out, not clichés that blend-in. So, avoid blah-blah-blah such as…
It’s complicated, this whole Federal Trade Commission ruling potentially banning the non-compete. Considering where you stand on the non-compete concept, it’s really all about evaluating the five “C” profile of your media business.
The media headlines are dizzying these days, yet they all share one common thread. See if you can solve this puzzle.
Will video save the radio star? I hope so.
Is that host read you are pitching “baked-in?”
If you’re a news/talk station, don’t assume that you own “news radio” in your market. Imaging is important, but it merely talks-the-talk. You walk-the-walk with local news copy that delivers what solid commercial copy does: benefits. Just doing local news makes you special. But do listeners simply hear a station voice… reading something? Are you merely… accurate? Or do you deliver “take-home pay,” unwrapping the story to tell the listener something useful?
“News Talk 1050” and two music brands. Townsquare regional vice president Robert Wawrzyniec says, “Mike is the ideal executive to lead Townsquare’s broadcast and digital operations in West Central Missouri. Most important, he knows the Sedalia market and what resonates with its listeners and advertisers. His expertise in creating, developing and executing exceptional local multi-platform solutions for advertising and marketing clients, as well as driving new business opportunities and forging important community partnerships, has resulted in deep client relationships and a strong commitment to listeners. I am looking forward to working with him in his new role.”
News for its podcasts from John Solomon, Victor Davis Hanson, and “Bauer and Rose” on the SPN platform. The agreement allows Salem to market and sell the podcasts to its array of advertisers and provide additional promotional support. Salem SVP Phil Boyce says, “John Solomon and his team are a perfect fit for Salem and will provide an additional layer of news credibility to the stories he covers. When you add Victor Davis Hanson’s podcasts, and those of Bauer and Rose, it makes the partnership complete.” Solomon comments, “Salem Podcast Network has amassed one of the most formidable audiences and lineups in the industry. We are excited to be joining the team and introducing our news and analysis to a whole new audience.”
Ready to go back to the future?
Radio talkers: What is this hour about? How will listeners benefit from listening? And how long do you expect them to wait to hear that?
I asked my pal, longtime radio seller, now retired: “How often were you asked, ‘How much would you charge for ONE commercial?’”
When was the last time you went shopping for a quality living room rug? Not an oriental, because that is just too easy. We’re talking high quality living room rug that will blend in and stand the test of time… and the dog. Next to fighting with a credit card company, it’s the worst shopping experience ever.
THE Best Bit I’ve Heard This Month was by Gene Valicenti, morning host, WPRO-AM/WEAN-FM, Providence.
Erick Erickson as the new afternoon talk show host on WYRD-FM, an unsurpassed team of talent will serve the Upstate, north Georgia and western North Carolina. Erick’s thought-provoking discussions, unyielding insight and captivating presence will be a welcomed addition to our listeners and partners. Erick will complete News/Talk 98.9 WORD’s incredible lineup, allowing us to provide unmatched content for listeners and the largest and most effective platform for advertisers.” Erickson is syndicated via Compass Media Networks. 
PricewaterhouseCoopers LLP, “quantifies annual podcast advertising revenues generated over the past year, analyzes revenue share by ad category and content genre, and forecasts future revenues through 2025.” The study says the top revenue-generating content genres are Sports (15%), Society & Culture (14%), and Comedy (14%) and have taken the lead from News and Political Opinion content (down from 19% to 12%). IAB VP, media center Eric John says, “In-person sports, lifestyle events, and in-store shopping have come back in a big way, taking the lead from news which held the top revenue genre spot since 2018. Podcasting revenue naturally reflects that shift in consumer behavior and it will be interesting to watch how the balance changes going forward.” He adds, “Both mass and niche advertisers like the audiences, targeting, and ROI along with the brand-safe and suitable environments that podcasting offers.” 
represents an expanded commitment to one of iHeartMedia’s most premium products allowing advertisers to engage audiences with creative, longform native content.” iHeartMedia goes on to say, “Ruby’s branded podcasts allow advertisers and their brand partners to spend upwards of 30-45 minutes with their target audience in a unique environment, with opportunities for storytelling that are not possible anywhere else in their media mix including social video. With distribution across the iHeartRadio app and all other major platforms, native podcasts from Ruby connect brands to audiences by translating brand messaging, products and services into original and engaging stories that audiences love.” 
and streaming for everything from brand awareness to consumer purchase. Audacy chief marketing officer Paul Suchman says, “Audio holds the title as the undisputed leader of brand-building channels – working its magic with the one-two punch of massive reach and beloved and trusted personalities. But if you’re thinking of Audio as just a top-of-funnel play – good for sparking a conversation but not driving conversion – think again. The truth is the game has expanded in recent years and audio is now a truly multi-purpose platform. Thanks to precision targeting, authentic influencers whose listeners follow them across channels, and advanced measurement, marketers are uncovering the best-kept secret in media – audio’s ability to drive impact at every funnel stage.”