Home Login RADIO ONLINE RSS Facebook
Advertisement

Salem Media Group Reports Q3 Revenue of $58.7 Million


Salem Media Group
Salem Media Group

Salem Media Group reported third quarter total revenue of $58.7 million, marking a decrease of 7.5% compared to $63.5 million in 2023. This reduction was primarily due to a 6% decline in net broadcast revenue, which fell from $48.9 million to $46 million in the current period. Conversely, the company experienced growth in its digital media segment, where revenue rose by 9.5% to reach $10.9 million, up from $9.9 million.

Salem reported an operating loss of $4.3 million, an improvement compared to the loss of $36.3 million reported in the same quarter of the previous year. The net loss also showed improvement, narrowing to $6.6 million, or $0.24 per share, from a net loss of $31.3 million, or $0.15 per share, year over year.

In terms of liquidity and capital resources, Salem concluded the quarter with $39.6 million in total current assets, while long-term debt was slightly reduced to $166.8 million from $169.8 million at the end of 2023. However, the company's cash flow from operations remained negative, which reflects ongoing investments in the digital media sector and other operational adjustments.

Salem Media Group CEO David Santrella commented on the quarter's results, noting, "This quarter, we've seen the fruits of our stringent cost management and strategic realignment, especially within our digital and publishing segments. Although we faced declines in broadcast and publishing revenues, our digital segment continues to show robust growth and resilience."

Looking ahead, the company provided guidance for the upcoming quarters with cautious optimism. Salem anticipates that the growth in the digital segment may help offset the declines seen in traditional broadcast and publishing revenues.

Advertisement

Latest Radio Stories

KRTH Invites Listeners to ''Buy Breakfast for a Firefighter''
Buy Breakfast for a Firefighter
Buy Breakfast for a Firefighter
This Valentine's Day, KRTH-FM (K-Earth 101) in Los Angeles is setting aside romantic gestures in favor of community spirit by supporting the first responders who battled January's devastating fires. The event, dubbed "Buy Breakfast for a Firefighter," will take place on More

Podtrac Releases Top Podcast Rankings for January 2025
Podtrac
Podtrac
Podtrac has issued the Top U.S. and Global Publishers & Networks and Top U.S. Podcast rankings for January. U.S. UMA was up for just twelve of the U.S. ranking participants in January over December. Seventeen of the U.S. ranking participants were up on U.S. Downloads month-over-month. Five of the Top Global More

''The Grunge Garage with Bob Stei'' Now Available Daily
Bob Stei
Bob Stei
Fishnet Syndication is expanding "The Grunge Garage with Bob Stei," a weekly show that immerses listeners in the sounds of the 1990s. Effective immediately, the program will offer stations the option to broadcast six classic episodes each week, plus a new episode every Sunday, all at no cost through a barter More
Advertisement

iHeartMedia Pittsburgh Ups Loesch to Market President
Bobbie Loesch
Bobbie Loesch
iHeartMedia appoints longtime executive Bobbie Loesch as Market President for its six-station cluster in Pittsburgh, effective immediately. Loesch joined the iHeart Pittsburgh group in April, 2004 as an Account Executive. She was promoted to Vice President of Sales in 2012, and most recently served as a More

FOX 5 Partners with Radio One Atlanta for Audio Simulcast
WHTA-FM-HD2 (Hot 107.9 HD2) in Atlanta
WHTA-FM-HD2 (Hot 107.9 HD2) in Atlanta
WAGA-TV (FOX 5) partners with Radio One in Atlanta to launch a 24-hour audio simulcast channel of the television station's streaming content. WHTA-HD2 (Hot 107.9 HD2) is now the home of non-stop content provided by FOX 5's digital properties. With this partnership, HOT 107.9 HD2 will simulcast over 100 hours More

FCC Takes Aim at Covert Radio Payola in Advisory
Federal Communications Commission (FCC)
Federal Communications Commission (FCC)
In a move to curtail covert manipulation of radio airplay, the FCC's Enforcement Bureau has issued a new enforcement advisory targeting radio stations that engage in undisclosed practices to influence music airplay. This development follows concerns raised by Tennessee Senator Marsha Blackburn about the More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement