Saga Communications has released its first-quarter financial results. Overall, the company saw a revenue decline for the period.
What We Know: Saga’s first-quarter numbers show a slightly smaller revenue decline than other previous groups that have announced results for the period. For example, Cumulus Media reported a 12.2% revenue decline during January, February, and March. The company noted a more than 100% increase in its digital-only blended revenue between the three-month window, compared to 2025.
What the Numbers Show:
| Revenue Type | 2026 | 2025 | Change |
|---|---|---|---|
| Net Revenue | $22.9 million | $24.2 million | ↓ 5.6% |
| Station Operating Expense | $22.0 million | $22.1 million | ↓ 0.2% |
| Operating Loss | $3.3 million | $2.3 million | ↓ 43.5% |
| Station Operating Income | $0.9 million | $2.4 million | ↓ 62.0% |
| Capital Expenditures (Quarter) | $0.8 million | $0.7 million | ↑ 14.3% |
| Net Loss | $2.4 million | $1.6 million | ↓ 50.0% |
What They Said: “To be clear, Saga is a customer-first company. Not a digital-first company … Our leaders continue to put in the work, and they are becoming experts. We believe they have learned and know more about consumer behavior and digital advertising than they ever even realized. The other day, one of our leaders said to me, ‘It’s more important to get it right than it is to be right.’ And we are beginning to get it right.” -CEO Chris Forgy
What It Means: The first quarter is traditionally a much slower period for revenue growth. With the 2026 midterm elections still on the horizon, there’s still time in the year for companies like Saga to see revenue growth for 2026. CFO Matt Bush shared that the expectations for political revenue for the year are to grow from the $1.4 million it has already secured.
Barrett Media produces daily content on the music, news, and sports media industries. Sign up for our newsletters to stay updated and get the latest information right in your inbox.
Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.
