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Salem Media Group has released its third-quarter revenue results, and it showed a decline overall for the company.
Overall, the organization secured $58.7 million in revenue during the month. That was a drop of 7.5%, down from $63.5 million, during the same period in 2023. Broadcast revenue was $46 million, down from $48.9 million year-over-year.
Despite the overall decline, digital media revenue increased 10% between July, August, and September. That sector saw $10.9 million of revenue during the quarter from $9.9 million last year.
Salem Media Group has slashed its operating losses in 2024 compared to 2023. During the third quarter, it reported losses of $6.62 million, compared to $31.9 million last year. Overall, the company has reported $4.3 million in losses this year against $36.3 million last year.
“This quarter, we’ve seen the fruits of our stringent cost management and strategic realignment, especially within our digital and publishing segments,” CEO David Santrella said. “Although we faced declines in broadcast and publishing revenues, our digital segment continues to show robust growth and resilience.”
