Beasley Broadcast Group, Inc
Beasley Broadcast Group is a U.S.-based multi-platform media company whose core business is operating radio stations in major local markets across the country. It sells integrated advertising solutions that combine broadcast audio, digital media, and event-based marketing for local and national advertisers. The company owns and operates station clusters in markets including Boston, Philadelphia, Tampa-Saint Petersburg, Detroit, Charlotte, Las Vegas, and several New Jersey and Florida markets. Its business model depends on audience reach, local market relevance, and the ability to monetize inventory through commercial spots, digital products, and promotional partnerships.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCommercial spots sold across Beasley's owned radio stations to local, regional, and national advertisers.
Advertising sold on station websites, mobile applications, and streaming audio platforms.
Sponsorships, promotions, and event-related marketing tied to station brands and audiences.
Resale of digital products and services that complement the company’s media offerings.
Advertising airtime exchanged for goods or services rather than cash.
Products
Reported · share of revenue- Audio Advertising76.0 %
- Digital Advertising24.0 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Beasley sells primarily to advertisers that want access to local radio audiences and market-specific listeners. Its customer base includes local businesses, regional advertisers, and national brands that buy through agencies to reach multiple markets efficiently. Political advertisers and advocacy groups are also important cyclical buyers, especially in even-numbered election years when spending rises sharply. The company also serves digital buyers who want cross-platform campaigns spanning broadcast, streaming, and station websites. Demand is driven by audience demographics, market size, and the advertiser’s need for local reach and frequency.
Small and mid-sized businesses buy local commercial spots and digital placements to drive traffic, awareness, and promotions in specific station markets.
Advertiser agencies purchase multi-market radio inventory for national brands that need broad reach and coordinated campaigns.
Candidates, parties, and special interest groups buy airtime during election cycles to target voters in key markets.
Brands buy website, app, and streaming audio inventory to extend campaigns beyond terrestrial radio.
Sponsors buy event and promotional packages to align with station brands and local audience engagement.
Strategy
Beasley is focused on improving monetization across its radio clusters while expanding its digital and multi-platform advertising capabilities. Management emphasizes integrated marketing solutions that combine audio, digital, and event platforms, which helps the company sell broader campaigns rather than only traditional spot ads. The company is also trying to control costs through centralized functions and cluster-level consolidation, reflecting the pressure of a mature, competitive radio market. Liquidity management is another priority, with asset sales, debt service, and working capital all important to near-term financial flexibility. The recent sale of station assets and the suspension of dividends suggest a focus on balance-sheet repair and capital allocation discipline.
Broader packages across radio, digital, and events can increase advertiser value and improve monetization per customer.
Local market execution and cost control are essential in a mature radio industry with heavy competition for ad dollars.
Asset sales and cash preservation support debt service, working capital, and future station investments.
Geography
Beasley’s business is concentrated in the United States, where it owns and operates station clusters in selected metropolitan markets. The company specifically names Augusta, Boston, Charlotte, Detroit, Fayetteville, Fort Myers-Naples, Las Vegas, Middlesex, Monmouth, Morristown, Philadelphia, and Tampa-Saint Petersburg. These markets matter because radio advertising is sold locally and pricing depends on audience share, market size, and competition in each metro area. The company’s exposure is therefore tied to U.S. advertising demand, local economic conditions, and market-by-market station performance. It also has operational exposure to FCC approvals when buying or selling station assets.
Risks
Beasley’s results are highly exposed to advertising demand, which is cyclical and sensitive to local economic conditions, competition, and audience trends. Radio revenue typically weakens in the first quarter and can swing materially in election years, so quarterly comparisons can be uneven even when underlying station performance is stable. The company also faces execution risk in its digital transition because online and streaming monetization must offset structural pressure in traditional broadcast advertising. Asset sales depend on FCC approval and other closing conditions, which can delay expected liquidity. More broadly, the business is exposed to market concentration, audience measurement changes, and competition from other media channels for advertiser budgets.
Revenue depends on advertiser spending, which rises and falls with economic conditions and local market demand.
Exposure: Core broadcast and digital advertising revenue
Advertisers can shift budgets to digital, streaming, TV, or other local media, limiting radio pricing and inventory utilization.
Exposure: Audience share and ad rates
Listener and advertiser attention continues to migrate toward digital platforms, pressuring legacy broadcast economics.
Exposure: Long-term revenue mix
The company states revenue is typically lowest in the first calendar quarter and can spike in election years, making results uneven.
Exposure: Quarterly revenue comparability
Station asset sales are subject to FCC approval and customary closing conditions, which can delay or prevent expected proceeds.
Exposure: Liquidity planning and asset monetization
Accounting
Judgemental itemsRevenue is recorded at the amount expected to be received under the contract, so campaign timing and agency arrangements affect reported sales.
Impact: Affects quarterly revenue timing and comparability
Radio revenue is typically lowest in Q1 and can spike in election years, especially in Q4 of even-numbered years.
Impact: Creates material quarter-to-quarter volatility
Barter transactions exchange airtime for goods or services and can reduce cash revenue quality.
Impact: Affects cash flow conversion and reported revenue mix
Station asset disposals can generate gains or losses depending on carrying values and closing terms.
Impact: Can materially affect non-operating results
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Last updated: 24/09/2026