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Salem Media Group Q3 Total Revs Rise 1.1% to $66.9 Million


Salem Media Group
Salem Media Group

Salem Media Group reported third quarter total revenue increased 1.3% to $66.9 million from $66 million in 2021. Net broadcast revenue grew 3.1% to $51.1 million from $49.6 million. EBITDA decreased to $(5.7) million from $30.2 million and Adjusted EBITDA decreased 78.8% to $2.3 million from $10.8 million. The company reported a net loss of $11.9 million (-44 cents) as compared to a net income of $22.1 million (81 cents) in the year-ago period.

Station Operating Income (SOI) decreased 17.9% to $10 million from $12.1 million, while Same Station net broadcast revenue grew 3.2% to $51.1 million from $49.5 million. Same Station SOI decreased 16.7% to $10.1 million from $12.1 million. Digital media revenue decreased 4.3% to $10.2 million from $10.6 million, while Digital Media Operating Income fell 21.9% to $1.9 million from $2.4million.

For the fourth quarter, the company is projecting total revenue to decrease between 3% and 5% from fourth quarter 2021 total revenue of $69.1 million.

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