Beasley’s fourth-quarter net revenue of $72.1 million was down $3.5 million from Q4 2018. The company says $2.8 million of that total was from political revenue in 2018 that was not offset by other ad dollars. Six of Beasley’s 15 markets saw an increase in revenue.
Beasley Media CEO Caroline Beasley said the company generated a 31% increase in full-year free cash flow over Q4 2018 and digital revenue was up 44%. Digital now makes up over 9% of Beasley’s total revenue.
The company also made voluntary debt repayments of $7 million, with total outstanding long-term debt of $263.5 million as of December 31, 2019.