Beasley Media Group released its third quarter operating report noting a loss of $300,000 for the period ending September 30 down from an income of $1.2 million. The drop was offset by lower total revenue, partially offset by continued expense reductions and improving digital margins.
Beasley noted that digital revenue increased 14.6% year-over-year to $13.0 million, or 28.5% on a same-station basis with it now accounting for 25% of the company’s total net revenue. Digital’s operating margin was 21%, or 28% on a same-station basis. Net revenue for the quarter decreased 12.4% to $51 million, which the company said was in line with its guidance and reflects continued softness in the traditional agency advertising market, partially offset by sustained growth in high-margin, owned-and-operated digital revenue and local direct sales.
Beasley CEO Caroline Beasley stated, ““Our third -quarter results demonstrate continued operational discipline. While advertising demand remains challenging, particularly within agency channels, the quality of our revenue mix continues to strengthen, led by sustained growth and record margins in our digital business. Digital revenue now represents roughly one-quarter of total company revenue, with owned-and-operated products driving margin expansion and scalability. At the same time, our cost-reduction initiatives are yielding tangible, lasting benefits. We’ve reduced total station operating and corporate expenses by $15 million year-to-date, while improving organizational efficiency and positioning Beasley to generate higher returns on every dollar of revenue. As we move into the fourth quarter, we remain focused on disciplined execution, strengthening our balance sheet through planned asset sales, and advancing our strategy to deliver sustainable shareholder value.”
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