That $2.1 million increase in Q4 of 2016 was mainly due to an increase in political revenue and double-digit revenue increases in Tampa, Charlotte, and Las Vegas. Beasley Media CEO Caroline Beasley said the Greater Media stations, which the company closed on back in 2016, decreased 6.1% or $2.3 million in the fourth quarter with about 60% of the decline coming from the Philadelphia market. Beasley said that decline was due to the ownership change and transition.
Other notable items from the Beasley Media earnings call Tuesday:
– Revenue in Detroit, a former Greater Media market, increased nearly 7%.
– Political revenue was $3.5 million in the quarter with $3 million coming from Beasley’s legacy stations.
– Q1 2017 is pacing down mid to high single digits due to national pacing down double digits and a format change in Tampa after the company dumped Bubba The Love Sponge from WBRN and flipped the format on that station.
