The company saw overall revenue grow in Q1 compared to last year, but it posted a loss
Beasley Broadcast Group posted a net loss of $3.5 million in the first three months of the year, slightly better than its performance in the same quarter a year earlier. But Caroline Beasley was upbeat in the announcement, and she projected that digital platforms will soon account for 20% of overall revenue.
The company, which trades on Nasdaq, reported that net revenue increased 3.7% to $57.8 million. Digital, local spot and network revenue was up, partially offset by a decrease in national spot revenue, which Beasley blamed on “continued softness in the national agency business.”
The company owns 61 AM and FM stations in 14 large- and mid-size U.S. markets. While its annual revenue is much smaller than that of an iHeartMedia or Audacy, the company is in the top 10…
