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
iHeartRadio Takes Flight With Virgin America
Meredith Gardner & Josh Kahn Promoted To VPs of Digital Marketing & Product
In Brief - June 30, 2015
June 29, 2015
Alpha Media Louisville Names Otis Program Director/Afternoon Host At WDJX
Broadcasters Foundation Of America Names Dan Mason Co-Vice Chairman/Treasurer
JJ Kincaid Set To Wake Up Denver
BMG Acquires Verse Music Group
In Brief - June 29, 2015
June 26, 2015
eQB NOW
Sirius XM Agrees To Pay For Recordings Released Before 1972
Cumulus Names Troy Hanson PD At WKQX/Chicago
Brandon "Buster" Satterfield Joins Atlantic Records
June 25, 2015
Taylor Swift To Put 1989 On Apple Music
WLTW/New York To Celebrate 15 Years Of Broadway In Bryant Park
Report: Six Main Causes of Lost Quarter Hours
June 24, 2015
iHeartMedia Austin Names Zach Dillon Program Director For KHFI
jâcapps Introduces "App Everywhere"
Pierre Bouvard On "New Data on TV Viewing Levels and Demographics"
In Brief - June 24, 2015
June 23, 2015
Nielsen’s Q1 2015 Total Audience Report
Cox Media Group & Experience Technology Offer VIP Upgrades for BLI Summer Jam 2015
In Brief - June 23, 2015
June 22, 2015
Apple Music Changes Its Tune
Alpha Media Adds "Energy" To Bakersfield
Music News
Chris Brown, Beyoncé Top BET Award Winners
Quick Hits: Shinedown, Rob Thomas, Foo Fighters, AC/DC, Kings of Leon
Yes Bassist Chris Squire Passes Away
FMQB Photo Pass: Rush
Quick Hits: Demi Lovato, Jessie J, Billboard Hot 100 Music Festival
Beyonce & The Weeknd Headlining Made In America Festival
Quick Hits: Pharrell & Adele, Eminem / Southpaw soundtrack, Legacy of Hope concert
Quick Hits: Apple Music, Chris Brown
Quick Hits: Billboard 200, BET Awards, Smashing Pumpkins, Tyga, Riot Fest, The Neighbourhood, Marina and the Diamonds, Roger Waters
Disturbed Ends Four-Year Hiatus with Immortalized
Quick Hits: Janet Jackson, Nickelback, Tove Lo, Rod Stewart, Grateful Dead, James Horner, Hollywood Walk of Fame
Nate Ruess Announces Fall Headlining Tour
Quick Hits: David Guetta, New Order, Simple Plan, OMI, Patty Griffin
Taylor Swift Criticizes Apple Music Free Trial
Ozzy, Florence + The Machine Headlining 2015 Voodoo Festival
FMQB NOW

Brian Mack, PD
WXXL/Orlando

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!