And Beasley Broadcast said its revenue was down 2.4% in the third quarter to $32.2 million; for the year to date, revenue is off 3.8%.
It said the quarter’s drop “reflects the current radio advertising environment and a reduction in non-cash trade sales revenue at our radio stations, which accounted for approximately half of the total decline.”
The company recorded revenue gains in Philadelphia, Ft. Myers, Boca Raton and Augusta clusters while revenue fell in the six other markets.
Chairman/CEO George Beasley said the company exceeded revenue projections. “We are fortunate to operate in relatively healthy regional economies where local advertisers continue to see value in radio advertising.”
Beasley projects a net revenue decrease of 5% in the coming quarter.
… As Does Beasley Revenue
… As Does Beasley Revenue
