Beasley Broadcast Group, a multi-platform media company, recently released its operating results for the fourth quarter and fiscal year of 2024. The company reported a net revenue increase of 2.3% to $67.3 million for the three months ending December 31, 2024. This growth was mainly driven by an $8.3 million boost from political advertising. Despite challenges in the commercial advertising market and revenue declines from certain divestitures, Beasley managed to maintain steady operating income of $7.6 million.
In the same period, Beasley reported a net loss of $2.1 million, compared to a net income of $6.4 million in 2023. This decline was primarily due to significant one-time costs related to financial restructuring and severance expenses. Adjusted EBITDA per Indenture for the fourth quarter of 2024 was $12.5 million, reflecting disciplined expense management efforts.
Looking ahead, Beasley is focused on driving sustainable revenue growth, expanding digital offerings, and optimizing sales approaches. With a strong emphasis on data-driven insights and enhanced consumer engagement, the company aims to provide innovative marketing solutions for advertisers. By leveraging its premium brands, streamlining costs, and strengthening its financial position, Beasley is well-positioned to accelerate its digital evolution and deliver long-term value for stakeholders.
Beasley Broadcast Group owns and operates radio stations across various US markets, reaching approximately 20 million listeners weekly. The company’s primary business revolves around offering integrated marketing solutions to local and national advertisers through audio, digital, and event platforms. For more information, visit Beasley’s website.
Moving beyond the financials, Beasley’s strategic actions in 2024 have positioned the company for long-term success by strengthening its balance sheet and operational efficiency. The focus on digital business growth, representing nearly 20% of total revenue, underscores Beasley’s commitment to adapting to industry challenges and seizing new growth opportunities in the audio and digital media landscape.
