Beasley Media Group has announced its financial results for the 2nd quarter, and the figures show a decline for the company.
In total, the company saw $53 million in revenue during April, May, and June. That figure represents a 12.3% decrease compared to the same quarter in 2024.
Operating income dropped from $5.4 million last year to $2.9 million this year, which the company says can be attributed to a $7.4 million decline in new revenue.
Beasley reported a net operating loss of $0.2 million during the quarter. That is actually below the $0.3 million operating loss it saw last year during the same quarter.
The Adjusted EBITDA for Beasley Media Group was $4.7 million in the second quarter, compared to $8.8 million in the same window a year ago.
“Our second quarter results reflect continued progress in reshaping our business for long-term profitability,” Beasley Media Group CEO Caroline Beasley stated. “While top-line performance was impacted by advertising softness and ongoing sales execution challenges, we are encouraged by the growth in our high-margin digital offerings and the positive impact of our aggressive cost reduction efforts. We reported an operating income of $2.9 million, highlighting the early benefits of our transformation. Digital revenue now accounts for over 25% of total revenue, and our focus on owned-and-operated platforms and direct sales continues to drive scalable, higher-margin growth.
“We remain committed to disciplined capital and cost management, while investing in our differentiated content, digital infrastructure, and self-service platforms,” Beasley continued. “With a leaner operating structure, a sharper focus on local and digital-first revenue streams, and an accelerated product roadmap including the introduction of new products and our new self-serve platform launching in Q3 we believe Beasley is better positioned than ever to capture emerging opportunities and deliver sustainable value for our stockholders. As part of our efforts to strengthen our balance sheet and streamline our portfolio, we announced the pending sales of WPBB in Tampa and five stations in Ft. Myers.”
The company did not disclose who the prospective buyer of the six stations would be. The stations in question include 96 K-Rock, Playa 99.3 (Tropical), B103.9 (CHR), Sunny 106.3 (AC), ESPN Southwest Florida, and Podcast Radio 101.5.
A sale of the company’s Ft. Myers cluster comes on the heels of Beasley Media Group selling 98.7 The Shark in Tampa earlier this summer to EMF.
Barrett Media produces daily content on the music, news, and sports media industries. To stay updated, sign up for our newsletters and get the latest information delivered straight to your inbox.
