Beasley Media Group's Challenging Earnings & Growth Plan

Beasley Media Groups 2022 earnings report revealed a challenging year, with net revenue dropping to $206 million from $240 million in 2021. The decline was primarily due to decreased traditional audio sales and the absence of political ads. Despite cutting $30 million in annual costs and selling off stations in Tampa and Fort Myers, the company faced a significant non-cash hit on their FCC license. However, digital revenue surged by 5.9% overall and 21% same-station, now accounting for 24% of total sales with solid margins. New sales strategies and cost controls are expected to stabilize local revenue and drive growth, particularly with midterm elections bringing back political cash. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/895cfd0144f4d448