Beasley Media Reports New Business, Digital Revenue As Bright Spots

Beasley Broadcast Group, Inc. today announced operating results for the three-month period ended March 31, 2025. For further information, the Company has posted a presentation to its website regarding the first quarter highlights and accomplishments that management will review on today’s conference call.

First Quarter 2025 Highlights

• Revenue from new business accounted for 18% of net revenue
• Local revenue, including digital packages sold locally, accounted for 71% of net revenue
• Digital revenue was comparable to the first quarter of 2024 but increased 6% year-over-year to $10.8 million, on a same-station basis
• Digital revenue accounted for 22% of net revenue
• Digital segment operating margin was 18%

Net revenue during the three months ended March 31, 2025 decreased 10.1%, or 8.5% on a same-station basis, to $48.9 million, driven by declines in agency revenue due to ongoing softness in the advertising market, as well as revenue declines related to the closures of Guarantee Digital and our esports division.

Beasley reported an operating loss of $2.0 million in the first quarter of 2025, compared to an operating loss of $1.1 million in the first quarter of 2024. Operating loss increased as the $5.5 million year-over-year reduction in net revenue exceeded the $4.6 million decrease in total operating expenses, corporate expenses and depreciation and amortization. Although core operating and corporate expenses declined due to continued cost management efforts, these savings were insufficient to fully offset the impact of lower agency revenue.

Adjusted EBITDA was $1.1 million in the first quarter of 2025, compared to $0.9 million in the first quarter of 2024. Despite a meaningful shortfall in revenue, the increase in Adjusted EBITDA reflects the benefits of strategic streamlining initiatives implemented across the organization.

Caroline Beasley

Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said, “Our first quarter results reflect the strength of our ongoing transformation and the resilience of our core strategy. While revenue was impacted by persistent macroeconomic headwinds, we mitigated this through disciplined cost management, operational streamlining, and continued momentum in our digital business, resulting in an Operating Loss of $2.0 million and year-over-year Adjusted EBITDA growth. Digital revenue now represents over 20% of total revenue, and the meaningful expansion in digital segment operating income underscores the scalability of our platform and the impact of our strategic investments. 

"As we look ahead, we remain focused on unlocking margin expansion, accelerating our digital evolution, and driving long-term value for our stockholders through thoughtful execution and innovation.”

“We are particularly encouraged by the continued growth in our high-margin digital offerings and the early success of new digital and content initiatives,” continued Caroline Beasley. “With a more agile operating structure, a differentiated content portfolio, and deepened advertiser engagement, we believe Beasley is well-positioned to navigate short-term market challenges while building a more durable and diversified revenue base.”