After posting a double-digit revenue decline to open 2025, Beasley Media Group confirms it is actively evaluating potential station swaps amid possible FCC regulatory changes that could reignite radio M&A. The idea, first floated earlier this year, is now gaining traction.
CEO Caroline Beasley acknowledged the potentiality in the broadcaster’s Q1 2025 earnings call, “Earlier in the year, there were discussions, multiple discussions. However, given the uncertainty in the economy today due to tariffs, it seems that some of these discussions have softened.” Still, Beasley emphasized: “We are always open to evaluating swaps if they’re beneficial to the company.”
Revenue in Q1 totaled $48.9 million, down 10.1% as reported and 8.5% on a same-station basis. Coleman noted that while macroeconomic headwinds continue, especially across agency-driven business, Beasley’s local direct revenue was up 0.3% and now comprises 55% of the company’s local sales. “This year-over-year growth, even in a challenging environment, reflects the enduring value of our local sales strategy,” she said.
In total, Beasley posted a $2.7 million loss for Q1, down from an $8,000 net profit during the same period in 2024.
The defining message of the company call was Beasley’s full lean into digital transformation. Digital now makes up 22% of total revenue, with digital segment operating income rising from $100,000 in Q1 2024 to $1.9 million this year. “This performance highlights the impact of our digital product margin optimization and the growing demand for digital-first solutions,” said Beasley. “Our digital transformation is gaining traction, accelerating margin expansion, and positioning the business for scalable, sustainable growth.”
CFO Lauren Burrows Coleman added that same-station digital margins expanded from 6.1% to 17.8%, calling it “a clear demonstration of how our digital business is not only growing, but maturing into a high-margin value creation engine within our portfolio.”
Top-performing verticals for the quarter included legal, which grew nearly 5%, and HVAC, which saw a 12% increase. Beasley credited this to better use of Quu-enabled in-car visuals and campaign integration. Auto advertising remained uneven, with domestic placements down 5% while foreign auto rose 7.5%. Advertiser caution tied to potential tariffs late in the quarter impacted both planning and co-op dollars.
Another primary focus of the call: sports. The broadcaster added a multi-year agreement with Learfield and the University of Michigan to carry football, men’s basketball, and hockey on Detroit stations WCSX and The Bounce. “This partnership is more than just game coverage,” said Beasley. “It includes weekly culture shows, player interviews, and digital exclusives fully integrated across our on-air, online, and owned-site platforms.”
In digital audio, the company touted “Audio Plus,” a unified streaming solution that Beasley said will triple inventory availability and consolidate buying for advertisers. “We’ve increased streaming inventory availability by nearly three times,” said Beasley. “Now, all targeting is prioritized through our owned and operated channels before defaulting to third-party.”
The company also saw sharp audience gains in Detroit, Charlotte, and Philadelphia, with 6+ listening and social engagement both up more than 20%. New initiatives included the launch of bilingual format Maxima in Las Vegas and a new syndicated NASCAR show hosted by Kyle Petty.
Looking ahead, Q2 revenue is pacing down 10%, though Beasley emphasized ongoing efforts to protect margin. “We remain committed to thoughtful cost management while continuing to fund the initiatives, particularly in digital content and technology, that we believe will drive long-term shareholder value,” Beasley said.
