Beasley’s 2023 First Quarter Net Revenue Rises 3.7%
Reporting its operating results for the first quarter of 2023, Beasley Broadcast Group (parent of Beasley Media Group) announces net revenue of $57.8 million, an increase of 3.7% over the same period in 2022 that the company says reflects “a year-over-year increase in digital revenue, local spot revenue and network revenue, partially offset by a decrease in national spot revenue, related to continued softness in the national agency business.” Beasley reports operating income of $400,000 in Q1 of 2023, compared to the operating loss of $2.7 million reported in Q1 of 2022. The company also reports a reduced net loss of $3.5 million
compared to the net loss of $3.7 million in Q1 of 2022. Beasley CEO Caroline Beasley states, “Beasley’s strong first quarter financial operating results highlight our continued local audio leadership and the ongoing success of our digital transformation and revenue diversification initiatives which are driving top-line and SOI (station operating income) growth. Despite ongoing challenges related to the economy and softness in the national spot market, Beasley generated healthy growth across its digital, local audio, and network revenue sources, as reflected by the 3.7% increase in first quarter net revenues to $57.8 million. Top-
line growth was the primary factor contributing to an impressive 21% year-over-year increase in SOI to $7.1 million. Our digital strategy delivered first quarter digital revenue growth of 27.8% year-over-year and accounted for 17.3% of total first quarter revenue. Similar to recent quarters, strong digital revenue performance was driven by Beasley’s organic content creation initiatives and the roll-out of our tailored web services. Beasley continues to see accelerating demand from consumers for our innovative digital content, with our unique digital users more than doubling over the prior year quarter, resulting in a more than 90% year-over-year increase in sellable digital impressions. We believe we remain on path for this revenue source to reach 20% of total revenue by 2023 year-end.” Total outstanding debt as of March 31, 2023 was $290 million, and first quarter interest expense slightly declined to $6.6 million. Beasley had $35.9 million of cash and cash equivalents on hand at quarter end. We intend to keep our cash on the balance sheet in order to maintain our strong liquidity position, while we monitor the economic environment.”
executives up to date with industry trends, and making it easier for brands to use audio to reach the largest addressable audience of media executives in audio.” iHeartMedia Digital Audio Group CEO Conal Byrne says, “We know that marketers are hot on podcasts with the majority planning on increasing their advertising spend in audio this year. While marketers are spending more, they’re also listening for longer, which is why we wanted to create a network of podcasts specifically for their industry with content that inspires and educates. iHeartMedia’s B2B Podcast Network brings this highly strategic audience into focus and provides the platform brands need to access them authentically.” Podcasts included on the network is “Math and Magic: Stories from the Frontiers of Marketing,” hosted by iHeartMedia chairman and CEO Bob Pittman.
views. Dave Ramsey says, “Over the last 15 years, Brian Mayfield has truly become one of the top talk radio executives in the nation and a good friend while he has been with Ramsey Solutions. His early retirement is a loss for all of us at Ramsey and the industry.” Mayfield states, “It has been an honor to work alongside Dave and the rest of the team. I am very proud of the success we have seen to date, but I am even more excited to watch and experience the success of Ramsey Network into the future as a fan. We are sometimes faced with situations that dictate change, I’m embracing mine and looking forward to quality time with my wife and family — I’m truly blessed.” Broadcast veteran Blake Thompson, Ramsey’s first producer when the show began, was named executive vice president of Ramsey Network last year. He will continue to serve in that role.
Broadcasting in Hudson Valley, New York and as national sales manager for Pamal’s stations in Albany, Glenn Falls and Rutland, Vermont. 
government and federal government contracting community.” Joel Oxley is vice president and general manager at WTOP News and Federal News Network. He says, “Each time I have brought new opportunities to Jeffrey he has used his creativity and collaborative approach to create success for our audience, our advertisers and our team. His expertise specifically in identifying trends our organization can leverage to better deliver on our mission will take a higher profile. Leading to even greater overall success. Jeffrey’s vision for the future will align directly with our goal of being the go-to source of federal news for employees and contractors and bringing new products and opportunities to market.” Wolinsky has served at Hubbard DC for the past 20 years.
this generation has ever faced. Despite the pandemic pushing people into overload, creators like Jay Shetty have opened up their heart, mind and platform to reinforce today’s greatest lesson – that vulnerability is a great strength and that people are stronger together.” Shetty comments, “‘On Purpose’ is on a journey to help make people happier, healthier and more healed. Through insightful and vulnerable conversations with icons, experts and cultural figures and weekly workshops, ‘On Purpose’ is dedicated to giving our community the habits and tools to live a more fulfilling life. I’m so grateful for our loyal and ever-growing community who come back every day to listen, learn and grow. As the podcast has scaled globally it made perfect sense to join together with the number one podcast publisher – iHeartMedia. We are so excited for this new chapter for ‘On Purpose.’”
Boyz” Monday – Friday show and numerous weekend mix shows. Liane has recently added “The Frank Ski Show with Nina Brown” and John Tesh’s “Intelligence For Your Life” to her portfolio. She says, “Thank you Peter, Hiram, Nancy, and Adam for your endless support and guidance. I’m so proud to be a part of Compass Media Networks’ talented team and deliver the best product lineup in our industry while serving the utmost value to our content partners and affiliates.”
commentators as well as up-and-comers. Trader tells TALKERS he “honestly believes AUN is one of the fastest growing TV and streaming networks in the country.” He states, “Now it is time to expand once again. Our goal is to be broadcasting in every major market in the next two years! This is maybe where an ambitious, hard-working manager can become part of this dream. I am looking to develop a management team to make it happen. If a candidate has expertise in managing finances and accounting, recruiting, human resources, overseeing and developing technologies, as well as creating company policy, sales and marketing, then such an individual might be looking for the challenge of a lifetime.” Trader continues, “I am looking to work with conservative/faithful, passionate ideologs like myself who are concerned with the direction our great republic is heading and want to return it to the Judeo-Christian, faith-based patriotic roots our founding fathers created! Here is the catch: all our progress and success has been achieved on a very tight budget! In fact, we cannot offer salaries. What we can offer is incentives for those who produce to be rewarded.” Interested candidates can contact Rick Trader, president/CEO, AUN TV Network at 
politics to parenting, Dixon – a businesswoman, breast-cancer survivor, and working mom of four girls – will dive deep into a wide variety of topics that touch our lives, while welcoming experts, insiders and headline makers for candid conversations.” Dixon comments, “I’m thrilled to take this leap into the podcasting world and am incredibly grateful to both Clay and Buck for encouraging and supporting me in this new venture. Listeners can expect to hear unique and unabashedly American stories not covered by the corporate media, as well as commentary from expert guests who will get to the truth about the issues impacting you and your family. I look forward to starting this new journey and bringing these stories to the forefront!”
anonymous women who have overcome seemingly insurmountable odds. Almon says, “Since 2019, my mission has been to amplify the voices of women of color. I wanted to normalize conversations within my community to humanize women, especially Black women, that took roads less traveled. Through this new partnership with The Black Effect Podcast Network, I hope to tell more compelling stories and create a space where women of color don’t have to look far to see themselves.”
‘Stuff You Missed in History Class’ podcast, Holly Frey; and esteemed journalist, author and co-founder of Pushkin Industries, Malcolm Gladwell, joined with today’s biggest marketers to explain why podcasting is growing rapidly and how brands need to adapt, invest and create audio advertising that resonates with podcast fans.” iHeartMedia Digital Audio Group CEO Conal Byrne says, “Podcasters are the most creative, fastest-growing, diverse wave of influencers to hit content and marketing in years – just as influencer marketing more generally was becoming a key new way to reach audiences. This event came together because our podcast creators are deeply invested in the brands and advertising that become part of their shows, that they asked us to give them a chance to sit down with marketers at scale and talk about what makes host-read creative work. What really differentiates podcasting and our iHeartPodcast Network from other mediums is that creators and fans expect the advertising to be endemic to the shows, often voiced by the hosts and authentic to the listening experience. This is a chance to roll up our sleeves and co-create, collaborate and showcase the simplicity, speed and creative potential of podcasting.”
2021, Townsquare is upbeat about its Digital segment. CEO Bill Wilson says, “I am proud to report that Townsquare’s transformation into a Digital First Local Media Company allowed us to deliver record results in 2022 despite a progressively challenging economic landscape… 2022 was a significant inflection point for our company. It marked the first year where radio no longer comprised the majority of our revenue and profit, further separating Townsquare from our local media peers, and placing a spotlight on our world-class team and our unique and differentiated strategy, assets, platforms and solutions. Our growth engine has been and will continue to be our 
digital solutions, which were the primary driver of our 2022 growth. Total digital revenue increased +16% year-over-year (and +12% in the fourth quarter) to $231 million, and total digital Adjusted Operating Income increased +12% year-over-year to $69 million, representing a 30% profit margin. We believe Townsquare’s ability to drive profitable, sustainable digital growth is a key differentiator for our company, and we reaffirm our expectation that our digital revenue will grow to at least $275 million by 2024. We are uniquely positioned as a Digital First Local Media Company focused principally on markets outside of the Top 50 in the United States, with a resilient digital growth engine supported by both a recurring subscription digital marketing solutions business, with a large addressable market and limited competition, and a highly differentiated digital advertising technology platform. We believe that our business model and strategy position us to weather the current economic environment better than most… Our success has been and will continue to be the result of the Townsquare Team focusing on what we do best: creating high quality, local original content for our audiences and delivering creative and cost-effective marketing solutions for our local clients with strong return on investment.”
and familiarity people have for their local radio stations to help them sample and choose from curated podcasts. Podcast Radio broadcasts 24/7 online and via app and smart speakers. It is monetized by selling traditional on-air advertising and sponsorships, inserting commercials into its online audio stream, partnering with international content makers, and making original podcasts and bespoke audio content that resonate with audiences.” 
three segments. The Multiplatform Group (including broadcast stations, networks and sponsorships & events) reports Q4 revenue of $732 million – a 0.9% increase over Q4 2021. Broadcast revenue grew $3 million, while Networks declined $5.5 million (4.1%). Revenue from Sponsorship and Events increased by $8.1 million (12.1%). The Digital Audio Group reports revenue of $301 million in Q4 of 2022 – up 10.2% 
over Q4 of ’21. Podcast revenue increased by $16.4 million (16.9%). The Audio & Media Services Group reports Q4 2022 revenue of $94.5 million – an increase of 44.3% over the same period in 2021. iHeartMedia chairman and CEO Bob Pittman says, “We are pleased to report another quarter of solid operating results for iHeart in consumer usage, revenue, and earnings growth. The fourth quarter was our best quarter for Revenue and Adjusted EBITDA – and on a full-year basis, in 2022 we generated the highest revenue and the second highest Adjusted EBITDA and Free Cash Flow year in iHeart’s history. Even in this continuing challenging and uncertain economic environment, we continue to make strong progress in our transformation of iHeart into a true multiplatform audio company – driven by innovation, supported by data and technology, and powered by the largest sales force in audio – and we are positioning iHeart to take advantage of the coming economic recovery.” 
as a percentage of the weekly podcasting audience – is based on total audience reach from Edison Podcast Metrics, and Edison says the Q3-Q4 ranker includes increased sample size implemented last year and is based on surveys of 10,579 weekly podcast listeners age 13+. The rest of the top 10 are: 4) Wondery/Audible/Amazon Music, 5) Audioboom, 6) The New York Times, 7) NPR, 8)Audacy, 9) Acast Creator Network, and 10) Cumulus Podcast Network.
revenue performance for the markets automotive category; and unifying iHeart’s approach to markets automotive across the space. He will oversee an automotive advertising business that consults with thousands of tier 2 and tier 3 automotive clients across the iHeartMedia enterprise. iHeartMedia EVP sales and operations John Karpinski says, “There is no success without a successor, so I’m really excited for Joey to take the reins of the iHeart automotive markets division. Throughout the years, Joey has not only shown himself to be an amazing leader by driving measurable success for clients and iHeart but has also proven to be great at ‘coaching up’ his team. I’m excited for Joey to build on the success he’s had on the West Coast with our entire automotive organization.”
Sawyer is promoted to media relations and affiliate sales manager. In her new role, Sawyer adds expanded Radio Media Tour outreach to her station relations duties. And in the Superadio Boston office, Dianne Cook is named operations and distribution manager overseeing both the affiliation process and distribution. Superadio president Eric Faison states, “These appointments are well deserved. Dianne, Raphael and Kim are invaluable contributors to the success of the company and have been integral in maintaining the high standards in customer service and quality programming that are synonymous with Superadio.”