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
Hubbard Radio Seattle Names Dave Numme As PD for KVRQ
Alpha Media Names Bill Gentry As Louisville SVP/Market Manager
AGM Aquires Coast FM In San Luis Obispo
BE-AT.TV & Music Choice Partner To Carry Streams From The World’s Top DJs & Festivals
In Brief - May 31, 2016
May 27, 2016
KSSX/San Diego Flips to Rhythmic CHR as JAM’N 95.7
On-Air Moves at Entercom-San Francisco
Universal Music Group Acquires Digital Agency Fame House
Cherrytree Records Partners With ADA
In Brief - May 27, 2016
May 26, 2016
Cumulus Media Appoints John Dimick as VP/Programming Operations
Universal Music Group Appoints Gautam Srivastava to EVP, Human Resources
Intergr8 Research: Which Hits Shazam Can Help You Spot Early
Beasley Broadcast Group Declares Quarterly Cash Dividend
In Brief - May 26, 2016
May 25, 2016
Nielsen Insights: Their Generation
NAB Statement on Court Ruling on Media Ownership Rules
Republic Records Celebrate DNCE Going Double Platinum
May 24, 2016
iHeartMedia Wins Legal Battle
Spotify's Losses Increase As Revenues Grow Faster
Pierre Bouvard: The TV Upfront: History, 2016 issues, and What It Means For Radio
United Stations Adds Sammy Hagar's Radio Show
May 23, 2016
Columbia Records Announces Jennifer Frommer As Head of Its Creative Agency
iHeartRadio Summer Pool Party Heats Up Miami
National Radio Hall of Fame Announces 2016 Nominees
Music News
Drake's Views Spends a Fourth Week at #1
Quick Hits: Major Lazer, Prophets of Rage, James Blake, Louder Than Life festival, Surfer Blood
FMQB Retro-Active: Ken Sharp Enthuses On The Who's Still-Thriving Music Career, As Well As Their Charitable Efforts
The Weeknd Tops Billboard Music Award Winners
Quick Hits: Leona Lewis, The Strokes, Cold War Kids
Quick Hits: Teen Choice Awards, Bon Jovi, The Killers
Quick Hits: Eminem, Mariah Carey, Red Nose Day TV Special, My Morning Jacket, The Tragically Hip
Drake Stays at #1, Meghan Trainor Debuts at #3 on Billboard 200
Quick Hits: Red Hot Chili Peppers, Megadeth, Ramones
Drake Leads Nominees For 2016 BET Awards
Quick Hits: Adele, Fifth Harmony, Life is Beautiful festival, Beastie Boys
Quick Hits: Chevelle, Rage Against The Machine / Prophets of Rage, 3 Doors Down, Make America Rock Again tour
Ariana Grande, Calvin Harris & More Headlining Billboard Hot 100 Festival
Quick Hits: MuchMusic Awards, Guns N' Roses / Lenny Kravitz / Alice in Chains, Rage Against The Machine, Riot Fest
Puff Daddy Takes Bad Boy Reunion on the Road
FMQB NOW

John Mayer
PD, WFLZ/Tampa

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!