Beasley Broadcast Group Revenue Down Slightly In Q1
April 30, 2014

Beasley Broadcast Group has reported its fiscal results for the first quarter of 2014. Overall net revenue dipped by 2.4 percent, from $24.8 million a year ago to $24.2 million. The decline was attributed to lower ad revenue at Beasley's Miami-Ft. Lauderdale and Philadelphia stations.

Station operating income fell by 12.2 percent to $7.1 million, attributed to the lower net revenue and a 2.4 percent increase in station operating expenses, in part due to last fall's acquisition of KVGS/Las Vegas. Operating income was down 22.3 percent to $4.2 million, while net income dropped 71.8 percent from $2.4 million to $0.7 million.

George G. Beasley, Chairman/CEO, commented "The first quarter decline in net revenue reflects several factors that primarily impacted our three largest markets, including the severe winter weather which had a negative effect on our operations in the northeast.

"Overall, for our five markets that report to Miller Kaplan -- which represent approximately 77 percent of total first quarter revenue -- Beasley station cluster revenue declined by 4.3 percent, while the total revenue for all reporting radio stations in these markets decreased by 0.3 percent for the quarter. In Philadelphia, our cluster underperformed the market for the first time since mid-2012 as business was significantly impacted by the severe winter weather that pressured billings, particularly among our local customers, and caused our stations to close for the equivalent of approximately three business weeks during the first quarter. In Miami, the first quarter underperformance largely relates to the revenue decline at our AM Sports Talk station following the departure of a popular afternoon host. On April 1, we addressed this situation directly by re-launching our afternoon drive programming with the addition of another highly rated Miami sports talk show host from a direct competitor in the market. Notwithstanding the challenges endured in the first quarter, our ratings and market position in both Philadelphia and Miami remain strong.

"A final factor which negatively impacted first quarter revenue results was the completion of comprehensive training for our sales team regarding our new digital and NTR initiatives. While this training took our sales teams away from customers for several days, we believe it was essential to drive growth in these areas of our business going forward. Our planned investments in sales and programming and the expansion of our digital offerings, combined with the revenue decline, led to a 12.2 percent decline in first quarter 2014 SOI compared to year-ago levels."




 
Breaking News
eQB NOW
The Week In Review: 4/20-4/24
iHeartRadio Now Available On The Apple Watch
CÜR Media Names Jay Clark Chief Content Officer
CBS Radio Stations Awarded With 21 Regional Edward R. Murrow Awards
In Brief - April 24, 2015
April 23, 2015
Warner Bros. Promotes Rob Goldklang To SVP/Alternative Promotion
CBS Radio Houston Names Charese Fruge VP/Programming And Operations Manager
Cat Thomas Named VP/Programming, CBS Radio Las Vegas
CBS Radio Las Vegas Names New PDs At KLUC & KMXB
iHeartMedia's First-Ever Soundfront
Pandora Reports Q1 2015 Financial Results
In Brief - April 23, 2015
April 22, 2015
Nielsen Reports Solid First Quarter
Shazam For Radio Adds David De Busk
KIIS FM Announces Wango Tango Pre-Show Performers
In Brief - April 22, 2015
April 21, 2015
Linda Little Named Market President For iHeartMedia Phoenix
iHeartRadio Now Available On Xbox One
Impact Radio Group Ups Garfield To PD at KWYD/Boise
Clip Interactive Activates FM Chip Listening On Additional Devices
In Brief - April 21, 2015
April 20, 2015
Scott Hopeck Named President of iHeartMedia New York
Tim Leiweke And Roger Faxon To Join Pandora Board of Directors
TuneIn Launches On Apple Watch And Apple CarPlay
In Brief - April 20, 2015
Music News
Black Keys' Dan Auerbach Announces New Solo Project
The Week In Review: 4/20-4/24
Quick Hits: Grateful Dead / John Mayer, Saturday Night Live, Frank Ocean, System Of A Down
Quick Hits: Lady Gaga, Estelle, MusiCares MAP Fund benefit concert, Hard Summer Festival, Faith No More, The Ting Tings
Teen Vine Star Shawn Mendes Tops Billboard 200
Quick Hits: Britney Spears & Iggy Azalea, The Grateful Dead, Ed Sheeran, R.E.M., The Smashing Pumpkins, Pitchfork Music Festival, Musicfest NW
Charli XCX, Bleachers Plot Eclectic Tour
Quick Hits: Billboard Music Awards, Walk Off the Earth, Miami Concert Series, Louis Tomlinson, Neil Young, AC/DC, Mötley Crüe
Green Day, Ringo & More Inducted Into The Rock Hall Of Fame
Muse Plans Drones Live Events
Quick Hits: iHeartRadio Summer Pool Party, Hozier, Panic! At The Disco, Foo Fighters, Neil Young / WayHome Music and Arts Festival
Quick Hits: Giorgio Moroder / Britney Spears, Green Day, Black Sabbath, Deftones & Incubus
The Week In Review: 4/13-4/17
FEATURED MUSIC NEWS CONTENT
FMQB Retro-Active: Aerosmith's Joey Kramer Talks Donington DVD, The Beatles, and Rockin and Roastin Coffee
FMQB NOW

Rick Cummings
Emmis Pres.
of Programming

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!