Salem Media Group Q3 Total Revenue Up 8% to $66 Million

RADIO ONLINE | Thursday, November 4, 2021 | 5:08pm CT

Salem Media Group

Salem Media Group reported third quarter total revenue increased 8.8% to $66 million from $60.6 million in 2020. Net broadcast revenue grew 9.3% to $49.6 million from $45.4 million, while Station Operating Income (SOI) gained 9.2% to $12.1 million from $11.1 million. Adjusted EBITDA increased 12.5% to $10.8 million from $9.6 million. The company posted a net income of $22.1 million (81 cents per diluted share) as compared to $0.3 million (1 cent) in the year-ago period.

Looking ahead to the fourth quarter of 2021, the company is projecting total revenue to be between flat and an increase of 2% from Q4 2020 total revenue of $64.5 million. Excluding the impact of $3.5 million in political revenue in fourth quarter of 2020, Salem is projecting revenue to increase between 6% and 8%.