Salem Media Q1 Total Revenue Up 1.9% to $59.4 Million

RADIO ONLINE | Thursday, May 6, 2021 | 4:33pm CT

Salem Media Group

Salem Media Group reported first quarter total revenue increased 1.9% to $59.4 million from $58.3 million in 2020. Total operating expenses decreased 27.9% to $55 million from $76.3 million. Operating income was $4.4 million up from an operating loss of $18 million. Adjusted EBITDA grew 131.1% to $7.9 million from $3.4 million. The company posted a net income of $0.3 million (1 cent per diluted share) as compared to a net loss of $55.2 million (-$2.07) in the year-ago period.

Net broadcast revenue decreased 2.5% to $44 million from $45.2 million, while Station Operating Income (SOI) gained 36.3% to $10.7 million from $7.9 million. Same Station net broadcast revenue decreased 1.9% to $43.9 million from $44.8 million and Same Station SOI increased 32.1% to $10.9 million from $8.2 million.

Digital media revenue grew 5.7% to $9.6 million from $9.1 million and Digital Media Operating Income increased 21.6% to $0.9 million from $0.8 million.

For the second quarter of 2021, the Salem Media is projecting total revenue to increase between 13% and 15% from second quarter 2020 total revenue of $52.9 million.