Tag: Radio Revenue

The biggest drop in the quarter came from the political advertising market.

“We expect to see a significant year-over-year improvement in our 2024 financial performance, supported by our ongoing efficiency efforts and what is anticipated to be a record-setting political advertising year.”

“The radio station business has been challenged to remain relevant and part of national ad budgets, although it is still relatively strong in the local ad markets.”

"We were able to offset some of the effects of the weak national advertising climate through strong execution in our key focus areas."

“Beasley’s fourth quarter and full year financial results reflect the impacts of cyclical political revenue and ongoing advertising market softness, partially offset by the continued success of our revenue diversification strategy and cost management initiatives."

National advertising revenue was down 18%, while local spots dropped 6%.

Pittman added that he "remains confident that both the advertising marketplace and our company will be back in growth mode in 2024."

Broadcast radio was the largest revenue driver, but also saw a decrease, dropping 8.6% to $54,2 million.

"Despite the challenging environment, we maximized performance by continuing to focus on areas we can control."

Urban One reported second quarter revenue rose 10.4% to $118.8 million. The company saw $107.5 million in revenue during the same time period in 2021.