Salem Communications released second-quarter earnings showing significant growth in a down-turned economy. According to the company, net broadcasting revenue increased nearly 37 percent to $34 million from $25 million in the second quarter of 2000. Broadcast cash flow also saw an increase of just over 12 percent to $13 million. That’s up from $11 million during the same time last year.
Company officials say the growth is a result of their “unique business model, where 40 percent of the company’s revenue is generated by block programming fees.”