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Salem Media Group Q2 Total Revs Up 7.7% to $68.7 Million


Salem Media Group
Salem Media Group

Salem Media Group reported second quarter total revenue increased 7.7% to $68.7 million from $63.8 million in 2021. Adjusted EBITDA grew 33.6% to $11.7 million from $8.7 million. Total operating expenses rose 5.5% to $61.4 million from $58.1 million, while Operating expenses were up 10.7% to $60.9 million from $55.0 million. Operating income increased 29.9% to $7.3 million from $5.6 million. The company reported a net income gain of 303.9% to $9.1 million (33 cents per diluted share) as compared to $2.3 million (8 cents) in the year-ago period.

Net broadcast revenue increased 12.1% to $52.5 million from $46.8 million. Station Operating Income (SOI) fell 6.2% to $10.0 million from $10.6 million, while Same Station net broadcast revenue grew 12.2% to $52.4 million from $46.7 million and Same Station SOI declined 5.9% to $10 million from $10.6 million.

Digital media revenue increased 4.5% to $10.8 million from $10.3 million and Digital Media Operating Income rose 26.5% to $2.5 million from $2 million.

Looking ahead to the third quarter of 2022, the company is projecting total revenue to increase between 6% and 8% from third quarter 2021 total revenue of $66 million.

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