Salem Media Q4 Total Revenue Down 0.5% to $68.8 Million
| RADIO ONLINE | Wednesday, March 8, 2023 |
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 Salem Media Group |
Salem Media Group reported total revenue decreased 0.5% to $68.8 million from $69.1 million in 2021. EBITDA declined 78.5% to $4.9 million from $22.7 million, while Adjusted EBITDA fell 33% to $7.3 million from $10.8 million. Operating income decreased 92% to $1.6 million from $20.5 million. The company posted a net loss of $2.2 million (8 cents per diluted share) as compared to a net income of $16.8 million (61 cents) in the year-ago period.
Net broadcast revenue grew 4.5% to $53.3 million from $51 million, whiel station operating income (SOI) declined 17.4% to $10.1 million from $12.3 million. Digital media revenue was down 10.3% to $10.4 million from $11.6 million and digital media operating income fell 44.3% to $1.7 million from $3 million.
Looking ahead to the first quarter of 2023, the company is projecting total revenue to be between flat and a decline of 2% from the first quarter 2022 total revenue of $62.6 million.
