The following is a summary of the Beasley Broadcast Group, Inc. (BBGI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 total revenue declined by 4.8%, with same-station revenue down 2%.

• Digital revenue accounted for 21.5% of total revenue, up from previous quarters, showing significant growth at 10.2% in Q2.

• Political revenue performed exceptionally well, amounting to $586,000, exceeding budget by 72%.

• Adjusted EBITDA for Q2 increased by 11.4% to $8.8 million, signaling robust profitability enhancements.

Business Progress:

• Beasley is actively expanding its digital sales force to capitalize on strong local content and relationships.

• Transitioning resource allocation favouring digital sales and operations signifies a pivot to more stable and high-margin digital revenue streams.

Opportunities:

• The growth in digital revenue, accounting for an increasingly larger portion of total revenue, highlights opportunities in digital expansion and monetization.

• Political revenue gains demonstrate potential for increased market penetration in swing states during upcoming election cycles.

Risks:

• Declines in local spot and direct business revenue indicate ongoing challenges in traditional broadcasting revenue streams.

• Anticipation of same-station revenue declines in the short term (low to mid-single digits) reflects pressures in the current economic climate.

More details: Beasley Broadcast Group IR

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