Salem Media’s 2025 Total Net Revenue Down 10.5%
Salem Media Group reveals its operating results for 2025 and reports total net revenue of $212.7 million, a decline of 10.5% over 2024’s reported $237.6 million. The company’s total operating expenses rose
3.9% to $252.4 million in 2025. After posting net income of $16.2 million in 2024, the company is reporting a net loss of $34.6 million in 2025. Salem reports revenue by segments and the erosion of its broadcast advertising revenue was dramatic after it shut down its Christian music formats and sold numerous radio stations, falling 36% — from $62.6 million in 2024 to $40.75 million in 2025. However, the company’s digital revenue (including advertising, streaming, downloads, and subscriptions) rose 5.5% from $83.8 million in 2024 to $88.4 million in 2025.
manager Liz Mayer says, “There is no denying that YouTube is playing an important role in the podcast ecosystem, especially when it comes to discovering new podcasts. However, over half of weekly podcast consumers indicate they consume via audio primarily. So, while the new video capabilities are exciting and need to be focused on, the industry can’t forget that it’s what consumers are hearing that is most important.” Highlights from the report include: 1) Audio remains the primary mode of podcast consumption (58%) despite growing video options; 2) YouTube is the leading podcast platform, yet it is not a walled garden as consumers listen to podcasts across multiple platforms; 3) Podcast discovery: YouTube is the place to be found; 44% of new podcast audiences started listening on YouTube; 4) Downloads and listens underestimate the actual audience: The current download impression model fails to account for co-listening; and 5) Why podcast advertising works so well: Podcasts hosts are three times more influential than social media influencers. 
back episodes published before they subscribed. Since many if not most of those were never listened to, the data about listening habits was inaccurate. As the blog notes, podcasts that publish frequently will be most affected. “This is a crucial reset for the podcast industry, a much-needed rightsizing of audience data. This is a defining moment advertisers and podcast creators should both welcome. As hosts look at their downloads and reach for the Advil, they should know Apple is putting the podcast industry on the road to more accurate data. Better audience data inspires more confidence among advertisers and agencies.” Another new feature in iOS 17 is that users who haven’t listened to five downloaded episodes over the past two weeks will stop getting automatically downloaded podcasts. 
