Beasley Revenue Increases 3.3%

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With a nice push from digital and the sports betting category, Beasley Media Group revenue jumped 3.3% to $70.7 million in the 4th quarter of 2021. The company is not yet back to 2019 levels but gets closer every quarter.

Due to a weak political spending season in 2021 compared to 2020, October was down 10.4% in the 4th quarter for Beasley while November was up 16.8% and December increased 8%.

Digital revenue increased 47.3% t0 $10.7 million and now makes up over 15% of Beasley’s business. CEO Caroline Beasley says the goal is to get digital revenue to 20% of total revenue.

The sports betting category brought in $4.3 million in the 4th quarter and that’s without the Boston market. Massachusetts has not yet approved sports gambling. That’s expected to pass later this year.

The top 5 categories for Beasley in Q4 were Consumer Services, Retail, Entertainment, Auto and Consumer Products. Automotive increased 1.3% despite the lack of automobile inventory that industry is dealing with.

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