Beasley Broadcast Group, a multi-platform media company, announced its operating results for the fourth quarter and fiscal year of 2024. In the fourth quarter, revenue increased to $67.3 million, driven by political advertising. Operating income remained stable at $7.6 million, despite specific one-time gains in the previous year. The company reported a net loss of $2.1 million in the fourth quarter, primarily due to one-time costs related to financial activities.
For the full year, revenue increased to $240.3 million, with digital revenue accounting for 19.4% of total revenue. The company achieved significant expense reductions, improved its financial position, and emphasized digital business growth. CEO Caroline Beasley highlighted a focus on revenue growth, digital expansion, and enhanced marketing solutions for advertisers.
Adjusted EBITDA for the fourth quarter was $12.5 million, reflecting disciplined expense management. Beasley remains positioned for future growth with a refined brand portfolio and strengthened financial foundation. An upcoming conference call will discuss these results further.
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