Salem Media Q1 Total Revenue Down 7.5% to $58.6 Million

RADIO ONLINE | Friday, May 10, 2024 | 11:32am CT

Salem Media Group

Salem Media Group reported first quarter total revenue fell 7.5% to $58.6 million from $63.4 million in 2023. Broadcast revenue was down 4.7% to $46 million and digital revenue was essentially flat at $10.7 million. Operating income fell to loss of $2 million from a loss of $4.1 million. Adjusted EBITDA was down 17.2% to $1.1 million from $1.3 million. The company posted a net loss of $5.1 million (19 cents per diluted share) as compared to a net loss of $5.1 million (19 cents) in the year-ago period.