What’s Up With Salem? Revenue … and Expenses

By on Nov, 7 2016 with Comments 0

Conservative talk and Christian-themed content specialist Salem Media Group enjoyed a Total Revenue gain of 5.6%, to $71.3 million, during Q3, the California-based company reported on Monday.

The overall revenue climb is largely attributable to a jump in its net broadcast revenue, which moved from $49.5 million a year ago to $51.1 million.

But, that wasn’t the only thing that increased for Salem. Like Entercom, which also reported its Q3 results on Monday, Salem’s operating expenses increased from $58.7 million to $62.4 million.

Meanwhile, operating income was flat, inching ahead from $2.1 million to $2.2 million. This leaves Salem’s earnings per share unchanged from Q3 2015, at 8 cents.

While broadcast net revenue increased, Salem’s all-important Station Operating Income (SOI) fell 2.1%, to $13.6 million. Same-station SOI decreased 1.5%, to $13.8 million.

Looking to Q4, Salem predicts total revenue to be either down 1% … or up 1%.

The company is also projecting increased operating expenses.

About The Author: Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.

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