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Salem Media Q2 Total Revenue Down 18.3% to $52.9M
RADIO ONLINE | Thursday, August 6, 2020 |
Salem Media Group reported second quarter total revenue decreased 18.3% to $52.9 million from $64.7 million in 2019. Total operating expenses declined 9% to $53.8 million from $59.1 million, while adjusted EBITDA was down 72.4% to $2.8 million from $10.2 million. Operating loss fell to $0.9 million from an operating income $5.6 million. The company posted a net loss of $2.5 million (9 cents per share) as compared to a net loss of $3.6 million (14 cents) in the year-ago period.
Net broadcast revenue decreased 19.6% to $39.5 million from $49.1 million, while same station net broadcast revenue declined 17.4% to $38.7 million from $46.9 million. Station Operating Income (SOI) was down 43.9% to $6.4 million from $11.4 million and same station SOI fell 43.9% to $6.5 million from $11.6 million.
Digital media revenue decreased 5.2% to $9.4 million from $10.0 million and Digital Media operating income fell 22.6% to $1.8 million from $2.3 million.
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