“Our third quarter results demonstrate continued operational discipline.”
Those are the words of Beasley Media Group Chief Executive Officer Caroline Beasley, who addressed the biggest concerns for investors when it comes to revenue generation: the soft core ad marketplace. The big takeaway is that digital revenue is increasing. But, when could it fully offset the bigger challenges facing Beasley and its peers?
It could all depend on how the company is “aggressively retooling” its sales organizations.
Indeed, digital revenue now represents roughly 25% of Beasley’s total company revenue, Caroline Beasley noted with the release of the Beasley Media Group Q3 2025 earnings report on Monday. “While advertising demand remains challenging, particularly within agency channels, the quality of our revenue mix continues to strengthen,” she said, noting that this was led by “sustained growth and record margins in our digital business.”
At the same time, Ms. Beasley noted that cost-reduction initiatives are yielding “tangible, lasting benefits.” Specifically, Beasley Media Group has reduced total station operating and corporate expenses by $15 million year-to-date. “As we move into the fourth quarter, we remain focused on disciplined execution, strengthening our balance sheet through planned asset sales, and advancing our strategy to deliver sustainable shareholder value.”
But, the biggest commentary from Caroline Beasley came during the earnings call, in which she labeled the rate of revenue decline “unacceptable” as strengthening accountability and accelerating digital revenue opportunities becomes an even bigger priority for the company founded by the late George Beasley in the early 1960s.
Investor reaction to the Q3 results was one of dissatisfaction, as “BBGI” was down by more than 13% in the minutes prior to the company’s 11am Eastern earnings call for investors and Wall Street analysts. This puts Beasley shares at $4.71, reflecting a nearly 51% year-to-date drop in value. However, shares are up from a $3.85 year-to-date low in late June.
BEASLEY MEDIA GROUP Q3 2025 HIGHLIGHTS
- Net revenue declined to $50.98 million, from $58.19 million. On a same-station basis, net revenue fell to $49.35 million, from $55.57 million.
- A $536,676 operating loss was seen, shifting from operating income of $1.24 million
- Total operating expenses were lowered to $51.51 million, from $56.95 million
- A $922,000 non-cash impairment charge impacts the current quarterly results
- Adjusted EBITDA shrunk to $3.86 million, from $6.48 million
- Automotive, Entertainment and Retail remain weak categories, with Auto down 8% and Retail off 22% year-over-year as advertisers continue to shift to non-broadcast media. That’s according to Ilana Goldstein — Ms. Beasley’s daughter and Director of Corporate Development and Investor Relations at Beasley Media Group. Goldstein was paid $148,385 in 2024, a SEC filing shows
If there’s a silver lining in the disappointing Q3 2025 results for Beasley Media Group, it is that expense management has offset the weakness in revenue generation, with the net loss slipping to $3.557 million (-$1.97 per share) from $3.561 million ($-2.33).
There have been no analysts covering Beasley that share their data with Yahoo! Finance since Q4 2024, when that -$2.33 EPS performance fell far short of the $0.00 estimate provided one year ago.
Looking ahead to Q4, Caroline Beasley shared on the call that pacings reflect a high-single-digit decline, ex-political, and are off 20% when including political advertising revenue.
