Total revenue for the Naples, FL based company came in at $72 million for the last three months of 2022, compared to $70.7 million a year earlier. Political revenue of $5.1 million saved the day for the company in Q4.
Beasley reported an operating loss of $33.5 million in the fourth quarter of 2022, compared to operating income of $6.5 million in the fourth quarter of 2021, blaming the loss on $44.2 million for a non-cash impairment losses and higher operating expenses related to digital.
Excluding political revenue in Q4 and Beasley’s revenue was down 4.8% or $3.4 million. October was up 8% with local revenue up 2%, November was down 2% with local down 3% and December was down 2% with local up 1%.
Consumer Services is Beasley’s largest advertising category making up 28% of the company’s total revenue. Retail is next at 15.3%, followed by Entertainment at 13.2%.
Digital revenue was up 12.2% for the company in Q4 and now makes up 17% of total revenue, according to CEO Caroline Beasley. She says the goal is to get digital revenue up to 20% of total revenue for the company.
Head count reductions in Q3 of 2022 resulted in $5 million of savings for Beasley.
Then why does our morning show in tampa keep getting our pay cut down? greedy MF’ers.