Beasley’s total Q3 revenue was $62.9 million, $13.3 million higher than Q3 2020. $500,000 came from Beasley’s e-sports business and they took in $225,000 in political, compared to $3 million last year. Radio was up 28.6% or $12 million. Digital increased 67% or $3.3 million. Digital now makes up 13.2% of Beasley’s total Q3 revenue. Back in 2019 digital made up 6% of Beasley’s business.
July revenue was up 39% ($5.2 million), August increased 29% ($4.8 million) and September rose 16% ($3.2 million). Excluding political Beasley was up 34% in the quarter. Of course all of those comparisons are against 2020, the COVID-19 year. CEO Caroline Beasley said when the numbers are compared to pre-COVID 2019, the decrease was only 4.8%, “so we’re closing that gap as we go further through the year.”
Consumer Services is Beasley’s the top advertising category, now making up 28% of total revenue. That category increased 36% in the third quarter. Entertainment makes up 15.8% of Beasley’s total business and increased 139% in the quarter thanks to a big jump in the sports betting category. Automotive was flat in the quarter but still makes up 8.8% of Beasley’s business.
Beasley reported that pacing in Q4 is up compared to 2020 and down just under 2% when comparing to 2019 pre-pandemic levels.
