Salem Q4 2022 Revenue Falls 0.5%; Full Year Revenue Up 3.4%

Salem Media Group’s total revenue during the fourth quarter of 2022 was $68.8 million, down 0.5% compared to Q4 of 2021. For the full year 2022, total revenue was $205.3 million, an increase of 3.4% over the full year of 2021. 

The company reports a loss of $2.2 million for Q4 of 2022 and a loss of $3.2 million for the full year of 2022. 

Salem reports in segments and for the fourth quarter of 2022, net Broadcast revenue increased 4.5% to $53.3 million from $51 million in the same period in 2021. 

However, Digital media revenue decreased 10.3% to $10.4 million from $11.6 million in Q4 of 2021. 

The Publishing segment decreased 21.3% to $5.2 million from $6.5 million in the same period a year ago. 

For the full year of 2022, net Broadcast revenue increased 7.2% to $205.3 million from $191.4 million in 2021. Digital media revenue decreased 1.2% to $41.7 million from $42.2 million, and Publishing revenue decreased 18.9% to $20 million from $24.6 million in 2021. 

Looking ahead, Salem offers guidance for the first quarter of 2023, saying, “The company is projecting total revenue to be between flat and a decline of 2% from the first quarter 2022 total revenue of $62.6 million.”