Beasley Broadcast Group, Inc. (BBGI): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no Dynamic World of Beasley Broadcast Group, Inc. (BBGI), uma empresa de transmissão de rádio poderosa que transforma o entretenimento de áudio por meio de estratégias inovadoras de mídia. Das ondas de rádio locais a plataformas de streaming digital, o BBGI cria um modelo de negócios atraente que conecta comunidades, fornece conteúdo direcionado e direciona soluções de publicidade em vários mercados. Descubra como essa empresa de mídia navega no cenário complexo da transmissão de rádio, engajamento digital e programação centrada no público em uma era de consumo de mídia em rápida evolução.

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: Parcerias -chave

Redes de estação de rádio e parceiros de distribuição

O Beasley Broadcast Group mantém parcerias estratégicas com várias redes de rádio e plataformas de distribuição:

Parceiro	Tipo de parceria	Número de estações
Westwood One	Deconomia da Rede Nacional de Rádio	12 estações
Redes de rádio ABC	Notícias e sindicação de conteúdo esportivo	8 estações
Rádio ESPN	Direitos de transmissão esportiva	6 estações

Agências de publicidade locais e compradores de mídia

O BBGI colabora com parceiros de publicidade regional e nacional:

• Horizon Media
• Grupo
• Publicis Media
• Omnicom Media Group

Provedores de tecnologia de plataforma digital

As parcerias de tecnologia incluem:

Provedor de tecnologia	Serviço	Valor anual do contrato
Google Cloud	Infraestrutura de streaming	US $ 1,2 milhão
Triton Digital	Streaming de áudio digital	$750,000

Organizações de licenciamento de música

O BBGI mantém acordos de licenciamento com:

• ASCAP
• IMC
• SESAC

Conteúdo esportivo e detentores de direitos de transmissão

Detalhes da parceria esportiva:

Organização Esportiva	Direitos de transmissão	Duração do contrato
NFL	Transmissões de jogos locais	3 anos
NBA	Cobertura de jogo local	2 anos

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: Atividades -chave

Programação da estação de rádio e criação de conteúdo

A partir do quarto trimestre 2023, o BBGI opera 64 estações de rádio em 15 mercados. A empresa gerencia 44 estações em 10 mercados e possui 20 estações em 5 mercados.

Segmento de mercado	Número de estações	Tipos de conteúdo
Esportes	12	Conversa de esportes locais e nacionais
Pedra	18	Formatos rochosos clássicos e alternativos
Urbano	10	Programação de hip-hop e R&B
País	14	Música country contemporânea

Vendas de publicidade local e nacional

Em 2023, o BBGI gerou US $ 252,4 milhões em receita total com vendas de publicidade.

• Receita de publicidade local: US $ 187,6 milhões
• Receita nacional de publicidade: US $ 64,8 milhões

Streaming digital e distribuição de mídia on -line

As plataformas digitais da BBGI gravaram 8,2 milhões de usuários digitais exclusivos mensais em 2023.

Plataforma digital	Usuários mensais	Tempo médio de escuta
Aplicativo móvel	3,6 milhões	47 minutos
Streaming de site	2,8 milhões	35 minutos
Alto -falante inteligente	1,8 milhão	28 minutos

Produção e gerenciamento de eventos ao vivo

A BBGI produziu 124 eventos ao vivo em seus mercados em 2023.

• Eventos relacionados a esportes: 62
• Concertos de música: 38
• Eventos comunitários: 24

Radiodifusão esportiva e gerenciamento de direitos de mídia

O BBGI detém direitos de transmissão para várias franquias esportivas com um valor total de contrato de US $ 42,3 milhões.

Franquia de esportes	Valor do contrato	Duração
Futebol universitário	US $ 18,7 milhões	3 anos
Equipe da NBA	US $ 15,6 milhões	2 anos
Esportes locais do ensino médio	US $ 8 milhões	4 anos

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: Recursos -chave

Licenças de transmissão de rádio e espectro

A partir de 2024, o Beasley Broadcast Group possui 64 estações de rádio em 14 mercados. Valor total do espectro de transmissão estimado em US $ 187,3 milhões.

Mercado	Número de estações	Tipo de licença
Filadélfia	5	FM/AM comercial
Boston	4	FM comercial
Las Vegas	6	FM/AM comercial

Rede de estação de rádio

Distribuição geográfica das estações de rádio:

• Nordeste: 22 estações
• Sudeste: 16 estações
• Costa Oeste: 12 estações
• Centro -Oeste: 14 estações

Recursos Humanos

Contagem total de funcionários: 687 A partir do quarto trimestre 2023

Categoria de funcionários	Número de funcionários
Personalidades no ar	156
Equipe técnica	98
Equipe de vendas	127
Gerenciamento	54

Infraestrutura de mídia digital

Investimentos de plataforma digital: US $ 4,2 milhões em 2023

• Plataformas de streaming
• Aplicativos móveis
• Infraestrutura de publicidade digital
• Tecnologia de produção de podcast

Reconhecimento da marca

Valor da marca estimado em US $ 62,5 milhões em 2024

Classificação de mercado	Pontuação de força da marca
Filadélfia	8.7/10
Boston	8.4/10
Las Vegas	8.2/10

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: proposições de valor

Entretenimento de áudio local e direcionado

O Beasley Broadcast Group opera 64 estações de rádio em 15 mercados a partir de 2023. O portfólio de rádio da empresa inclui:

Tipo de mercado	Número de estações	Formatos primários
Principais mercados	42	Urbano, rock, país, esportes
Mercados de tamanho médio	22	Contemporâneo adulto, notícias/palestras

Programação diversificada de música e conversa de rádio

A quebra de programação inclui:

• 35% de formatos musicais
• Rádio de 15% da conversa
• 20% de rádio esportivo
• 30% de conteúdo misto

Conteúdo e engajamento focados na comunidade

Métricas de conteúdo local:

Métrica de engajamento	Valor anual
Horário de cobertura local de notícias	5.200 horas
Patrocínio de eventos da comunidade	387 eventos

Opções de consumo de mídia de várias plataformas

Alcance da plataforma digital:

• Plataformas de streaming digital: 7
• Downloads de aplicativos móveis: 1,2 milhão
• Ouvintes mensais de fluxo digital: 650.000

Soluções de publicidade localizadas para empresas

Recutação de receita de publicidade:

Canal de publicidade	Receita anual	Porcentagem de total
Publicidade de rádio tradicional	US $ 89,4 milhões	62%
Publicidade digital	US $ 35,6 milhões	25%
Advertência de patrocínio de eventos	US $ 17,2 milhões	13%

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: Relacionamentos do cliente

Interação direta do público através da mídia social

A partir do quarto trimestre 2023, o Beasley Broadcast Group gerencia 54 estações de rádio em 15 mercados com presença ativa nas mídias sociais.

Plataforma de mídia social	Contagem de seguidores	Taxa de engajamento
Facebook	327,456	4.2%
Instagram	215,789	3.7%
Twitter	186,543	2.9%

Programas de engajamento e chamada no ar no ar

Estações BBGI Média 42 chamadas de ouvinte ao vivo por programação diária.

Programas de fidelidade e eventos do ouvinte

Tipo de programa	Participantes anuais	Receita gerada
Associações de clube VIP	18,275	$672,000
Eventos de concertos ao vivo	87,456	US $ 1,4 milhão

Experiências personalizadas de conteúdo digital

• Downloads de aplicativos móveis: 276.543
• Assinantes de podcast: 129.876
• Usuários da plataforma de streaming: 345.212

Patrocínio da comunidade local e envolvimento

BBGI investiu US $ 1,2 milhão em patrocínios da comunidade local durante 2023.

Categoria de patrocínio	Investimento total
Eventos de caridade locais	$425,000
Programas educacionais	$375,000
Esportes comunitários	$400,000

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: canais

Frequências de transmissão de rádio tradicionais

A partir de 2024, o Beasley Broadcast Group opera 64 estações de rádio em 15 mercados nos Estados Unidos.

Mercado	Número de estações	Formatos primários
Filadélfia	5	Rock, esportes, urbano
Boston	4	Rock clássico alternativo
Las Vegas	6	Country, Top 40, esportes

Plataformas de streaming digital

O Beasley Broadcast Group distribui o conteúdo por meio de várias plataformas de streaming digital.

• iheartradio
• Tunein
• Spotify
• Música da Apple

Aplicativos para smartphones móveis

Beasley mantém aplicativos móveis dedicados para estações de mercado importantes.

Plataforma de aplicativo	Downloads totais	Usuários ativos mensais
iOS	275,000	87,500
Android	193,000	62,000

Site e serviços de streaming online

A Beasley opera 64 sites específicos do mercado com recursos de transmissão ao vivo.

• Tráfego mensal total da web: 1,2 milhão de visitantes únicos
• Tempo médio no local: 7,3 minutos
• Receita de anúncios online: US $ 4,2 milhões anualmente

Plataformas de mídia social

Beasley mantém a presença ativa da mídia social em vários canais.

Plataforma	Total de seguidores	Taxa de engajamento
Facebook	890,000	3.7%
Instagram	456,000	4.2%
Twitter	312,000	2.9%

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: segmentos de clientes

Ouvintes de rádio locais em diversas demografias

A partir do quarto trimestre 2023, o Beasley Broadcast Group opera 63 estações de rádio em 15 mercados. Demografia de ouvinte Demografics:

Faixa etária	Percentagem
18-34 anos	32%
35-54 anos	41%
55 anos ou mais	27%

Passageiros e consumidores de áudio no veículo

Estatísticas semanais de consumo de rádio no veículo:

• Escuta semanal média no carro: 11,5 horas
• Horários de deslocamento de pico: 6-9 e 16h às 19h
• Alcance do mercado primário: áreas urbanas e suburbanas

Anunciantes locais e regionais

Distribuição de receita de publicidade para 2023:

Categoria de anunciante	Participação de receita
Varejo local	38%
Revendedores de automóveis	22%
Assistência médica	15%
Entretenimento	12%
Outro	13%

Fãs de esportes e entusiastas de conteúdo específicos

Engajamento do ouvinte de gênero de conteúdo:

• Rádio esportivo: 18% do público total
• Notícias/palestras: 25% do público total
• Rock Music: 22% do público total
• Música country: 20% do público total
• Urbano/hip-hop: 15% do público total

Consumidores de mídia digital

Métricas de uso da plataforma digital para 2023:

Plataforma	Usuários ativos mensais
Aplicativo móvel	1,2 milhão
Site	2,5 milhões
Serviços de streaming	850,000

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: estrutura de custos

Despesas operacionais da estação de rádio

A partir de 2023 Relatórios Financeiros, as despesas operacionais totais do Beasley Broadcast Group foram de US $ 159,7 milhões. Repartição dos principais custos operacionais:

Categoria de despesa	Custo anual ($)
Manutenção da instalação	6,3 milhões
Utilitários	3,8 milhões
Manutenção do equipamento	4,5 milhões

Produção de conteúdo e aquisição de talentos

Despesas anuais de produção e produção de conteúdo:

• Custos totais de aquisição de talentos: US $ 22,6 milhões
• Salários de personalidade no ar: US $ 12,4 milhões
• Compensação da equipe de produção: US $ 5,2 milhões

Tecnologia digital e manutenção de infraestrutura

Investimento de infraestrutura de tecnologia em 2023:

Despesa de tecnologia	Custo anual ($)
Manutenção da plataforma digital	3,9 milhões
Tecnologia de streaming	2,7 milhões
Infraestrutura de rede	4,1 milhões

Licenciamento de música e pagamentos de royalties

Despesas anuais de licenciamento de música: US $ 8,3 milhões

• Pagamentos de Organizações de Direitos de Desempenho: US $ 5,6 milhões
• Compositor e editor royalties: US $ 2,7 milhões

Atividades de marketing e promocionais

Redução de despesas de marketing para 2023:

Categoria de marketing	Gasto anual ($)
Marketing digital	2,1 milhões
Publicidade tradicional	3,4 milhões
Patrocínio de eventos	1,8 milhão

Beasley Broadcast Group, Inc. (BBGI) - Modelo de negócios: fluxos de receita

Vendas de publicidade local e nacional

De acordo com o relatório anual de 2022 do Beasley Broadcast Group, a receita de publicidade foi de US $ 232,8 milhões.

Categoria de receita de publicidade	Valor ($)
Publicidade de rádio local	156,4 milhões
Publicidade de rádio nacional	76,4 milhões

Receita de publicidade digital

A publicidade digital representou US $ 37,5 milhões em 2022, representando 16,1% do total de receita de publicidade.

• Publicidade de exibição digital: US $ 22,3 milhões
• Anúncios de streaming de áudio digital: US $ 15,2 milhões

Conteúdo patrocinado e parcerias de marca

A receita de conteúdo patrocinada atingiu US $ 18,6 milhões em 2022.

Produção de eventos e vendas de ingressos

A receita relacionada ao evento foi de US $ 12,4 milhões em 2022.

Serviços de assinatura de streaming digital

A receita de assinatura de streaming digital totalizou US $ 8,7 milhões em 2022.

Serviço de assinatura	Assinantes	Receita ($)
Streaming digital premium	48,000	6,2 milhões
Assinaturas de podcast	22,000	2,5 milhões

Fluxos totais de receita para 2022: US $ 307,5 ​​milhões

Beasley Broadcast Group, Inc. (BBGI) - Canvas Business Model: Value Propositions

You're looking at the core value Beasley Broadcast Group, Inc. (BBGI) delivers to its advertising clients as of late 2025. The focus is clearly on driving higher-quality revenue through digital scale and local integration.

The high-margin digital solutions are a major draw. For the third quarter of 2025, the digital segment delivered an operating margin of 21% overall. More importantly, on a same-station basis, that margin hit 28%, which management noted was the highest in the company's history. This segment is growing its share of the pie, making up 25% of total net revenue in Q3 2025.

For advertisers seeking broad local impact, Beasley Broadcast Group, Inc. (BBGI) combines its on-air presence with digital capabilities. Local revenue, which includes digital packages sold locally, accounted for a significant 79% of net revenue in Q3 2025. This integration is supported by offerings like Audio Plus, a unified streaming solution that management stated will triple inventory availability and consolidate buying for advertisers.

Here's a quick look at the key financial metrics underpinning these value propositions from the third quarter of 2025:

Metric	Value	Context
Digital Revenue Share of Net Revenue	25%	Q3 2025 Total Net Revenue
Digital Segment Operating Margin (Same-Station)	28%	Q3 2025 Highest in Company History
Digital Segment Operating Margin (Total)	21%	Q3 2025
Year-over-Year Digital Revenue Growth	14.6%	Q3 2025
Local Revenue Share of Net Revenue	79%	Q3 2025 (Includes Digital Packages)

To simplify access for smaller advertisers, Beasley Broadcast Group, Inc. (BBGI) is building out its direct-sell capabilities. The company is developing a product designed to allow advertisers to buy digital, and eventually over-the-air, inventory entirely online. This move aims to streamline transactions and capture more value through automation, which is crucial as they pivot the sales organization toward direct, data-driven relationships.

The digital ecosystem provides advertisers with a wide array of tools to achieve marketing objectives. These capabilities include:

• Streaming audio and podcast advertising inventory.
• Display and social media advertising placements.
• Geo-targeting and geo-fencing activation.
• Search and e-mail marketing services.
• Integration with Quu-enabled in-car visuals.

Also, the growth in specific digital products is notable; Audio Plus revenue reached over $1.2 million in Q3, representing over 200% growth from Q2. That's a clear signal of advertiser adoption for consolidated digital audio buys.

Finance: draft 13-week cash view by Friday.

Beasley Broadcast Group, Inc. (BBGI) - Canvas Business Model: Customer Relationships

You're looking at how Beasley Broadcast Group, Inc. (BBGI) connects with the businesses that buy ad time and the listeners who tune in. The focus has clearly shifted to making digital relationships durable and profitable, which means changing how the sales team operates.

Direct, relationship-based sales model with local businesses

The core of the traditional relationship remains rooted in local direct sales. For the third quarter of 2025, local revenue, which includes digital packages sold alongside broadcast, accounted for a significant 79% of net revenue. This shows that direct, face-to-face or dedicated account management is still the primary way they secure advertising dollars from local entities. To be fair, the local direct revenue stream showed some resilience, actually growing by 1.7% year-over-year in the second quarter of 2025, indicating that this relationship-based approach is the majority of their local sales mix.

However, the pipeline for new customer acquisition seems to be under pressure. Revenue from new business remained flat at 14% of net revenue in Q3 2025, the same percentage as in Q3 2024. This flatness, coupled with a 7.5% year-over-year decline in total revenue to $51.0 million for Q3 2025, suggests the relationship focus needs to be more aggressive on new logos.

Here's a quick look at the revenue composition as of Q3 2025:

Revenue Category	Q3 2025 Amount/Percentage	Comparison/Context
Total Net Revenue	$51.0 million	A 7.5% year-over-year decline.
Local Revenue (incl. digital packages)	79% of Net Revenue	The core relationship-driven segment.
Digital Revenue Share	25% of Net Revenue	Up from 19% at this time last year.
New Business Revenue Share	14% of Net Revenue	Flat compared to Q3 2024.
Digital Segment Operating Margin (Same-Station)	28%	The highest in company history as of Q3 2025.

Dedicated digital Account Executives (AEs) for digital-first solutions

Beasley Broadcast Group is actively retooling its sales organization to align with a digitally led marketplace. Management stated they are 'aggressively retooling our sales org' and specifically 'adding dedicated digital AEs and digital sales managers in markets to accelerate adoption and execution.' This structural change is meant to pivot the sales approach towards direct, data-driven relationships, moving away from older, agency-driven models. The growth in the digital segment validates this push; same-station digital revenue grew approximately 28% year-over-year in Q3 2025.

Self-service digital platform for automated, transparent campaign management

A key action point to enhance this relationship is the planned launch of a self-serve digital platform in Q3 2025. This platform is designed to empower advertisers with real-time campaign management and analytics, which directly addresses the need for transparency and automation in digital ad buying. The goal here is to capture more value from the digital advertising chain. This focus on owned-and-operated platforms is driving the high margins seen in the digital segment, which reached 26.8% in Q2 2025 and improved to 28% on a same-station basis in Q3 2025.

Listener engagement via social media, apps, and live events

The relationship with the end-user-the listener-is crucial as it underpins the inventory sold to advertisers. Beasley radio stations reach nearly 19 million unique consumers weekly across all platforms, including over-the-air, online, and mobile devices. The company is seeing success in digital engagement efforts; as of the Q2 2025 report, their social media audience had grown over 8% compared to the previous year. Furthermore, the total team, covering broadcast, streaming, and podcasting, was up 7% year-over-year, reflecting an ability to attract and engage listeners across these varied touchpoints. The 'Audio Plus' revenue stream, which likely includes digital/event tie-ins, also showed strong sequential growth, reaching over $1.2 million in Q3, representing over 200% growth from Q2 2025.

Finance: draft 13-week cash view by Friday.

Beasley Broadcast Group, Inc. (BBGI) - Canvas Business Model: Channels

You're looking at how Beasley Broadcast Group, Inc. (BBGI) gets its value proposition-local content and advertising reach-into the hands of its customers as of late 2025. The channel strategy is clearly split between the legacy over-the-air presence and the rapidly growing digital ecosystem.

Over-the-air broadcast via 54 AM/FM radio stations

The core of Beasley Broadcast Group, Inc. (BBGI)'s channel strategy still relies on its terrestrial radio footprint. As of the third quarter of 2025, the company owned and operated exactly 54 AM and FM radio stations across the US. These stations serve specific geographic markets, which is key for local advertising sales. The markets include places like Boston, MA, Philadelphia, PA, Detroit, MI, and Tampa-Saint Petersburg, FL. This physical presence is the foundation for their traditional revenue stream, even as digital takes a larger share.

Here's a quick look at the scale of the broadcast component relative to the overall revenue picture in Q3 2025:

Metric	Value (Q3 2025)
Total Net Revenue	$51.0 million
Total AM/FM Stations Operated	54
Local Revenue (Including Digital Packages) Share	79% of Net Revenue

Digital streaming and podcasting platforms (bPod Studios)

The digital side is where Beasley Broadcast Group, Inc. (BBGI) is actively pushing for growth and margin improvement. This includes digital streaming, which is likely tied to their station brands, and dedicated podcasting efforts, such as those coming out of bPod Studios. The success of this channel is evident in the financial reporting. Digital revenue is a significant and growing portion of the total.

The performance of these digital channels in the third quarter of 2025 shows clear momentum, even with overall revenue softness. You can see the financial impact clearly here:

• Digital revenue for Q3 2025 hit $13.0 million.
• This digital revenue represented 25% of the total net revenue for the quarter.
• Same-station digital revenue showed year-over-year growth of 28.5%.
• The digital segment operating margin reached 21%, or 28% on a same-station basis.
• Audio Plus revenue specifically surpassed $1.2 million in Q3 2025.
• This Audio Plus segment saw growth of over 200% compared to Q2 2025.

Owned-and-operated websites and mobile applications

These digital properties are the direct conduits for the streaming and podcasting content, and they are critical for capturing local direct digital advertising spend. They serve as the primary owned platform for audience engagement outside the traditional radio dial. The $13.0 million in digital revenue for the quarter is the aggregate result of these platforms working alongside social media efforts.

Social media platforms (Facebook, X) and email marketing

While specific direct revenue figures attributed solely to Facebook or X engagement aren't broken out separately from the overall digital bucket, these platforms are essential for driving traffic to the owned digital properties and for direct marketing campaigns. The focus on pivoting the sales organization towards direct, data-driven relationships suggests these channels are heavily used for targeted advertising and audience segmentation via email marketing lists cultivated from website and app usage. Revenue from new business, which is often digitally sourced, accounted for 14% of net revenue in Q3 2025, remaining flat year-over-year.

Finance: draft 13-week cash view by Friday.

Beasley Broadcast Group, Inc. (BBGI) - Canvas Business Model: Customer Segments

You're looking at the core audience Beasley Broadcast Group, Inc. (BBGI) serves with its media assets as of late 2025. This is where the revenue actually comes from, and the mix is definitely shifting.

The company's reach into the local market remains substantial, though the composition of that local spend is evolving rapidly toward direct digital relationships, which management sees as key to future margin improvement.

The traditional radio listener base is still massive, providing the foundation for all advertising inventory, but the growth story is clearly in the digital segment, which now commands a significant portion of the total revenue pie.

Here's a breakdown of the key customer segments based on the latest reported figures from the 2025 fiscal year:

Customer Segment	Key Metric/Data Point	Latest Reported Value (2025)
Mass Market Listeners	Unique Weekly Consumers Reached	Nearly 19 million
Local Direct Advertisers	Local Revenue Share (including digital packages)	79% of net revenue (Q3 2025)
National and Local Agency Advertisers	Local Agency Revenue Year-over-Year Change	Fell roughly 17% (Q3 2025 context)
Political Advertisers	Example of Political Revenue Impact	Q3 2024 revenue included $2.7 million of political revenue

The shift in advertising spend is evident when you look at the performance of the agency-driven channels versus the direct and digital focus.

• Mass Market Listeners engage via over-the-air, online, and smartphone platforms.
• Digital revenue reached 25% of total net revenue in Q3 2025.
• Digital segment operating margin was reported at 21% for Q3 2025.
• New business revenue remained flat at 14% of net revenue in Q3 2025 compared to Q3 2024.
• Agency revenue declines were a primary driver of the Q1 2025 net revenue decrease of 10.1% year-over-year.

The company is actively retooling its sales organization to align with a modern, digitally led marketplace, adding dedicated digital Account Executives and sales managers to accelerate adoption.

For the first quarter of 2025, local revenue, which includes digital packages sold locally, accounted for 71% of net revenue. The focus on direct relationships is a stated strategic priority to strengthen the quality of earnings.

Political advertising revenue is a segment that can significantly impact quarterly comparisons, as seen when Q3 2025 revenue was compared excluding the $2.7 million from political in Q3 2024.

The decline in agency revenue has been persistent, with Q1 2025 net revenue down 10.1% year-over-year, and same-station revenue down 8.5%.

Beasley Broadcast Group, Inc. (BBGI) - Canvas Business Model: Cost Structure

The cost structure for Beasley Broadcast Group, Inc. (BBGI) is heavily influenced by the fixed and semi-fixed costs associated with operating a traditional broadcast platform, even as the company aggressively pursues efficiency gains.

Significant operating expenses for station and corporate overhead remain a major component. Management has been actively tackling this, reporting that total station operating and corporate expenses were reduced by $15 million year-to-date through the nine months ended September 30, 2025. This reduction reflects durable structural efficiency gains, not just temporary measures. Specifically, corporate expenses were nearly 50% lower than the prior year period in the third quarter of 2025. Station operating expenses saw an 8% decrease year-over-year in Q3 2025. The company recorded an operating loss of approximately $300 thousand in the third quarter of 2025.

The burden of financing remains a significant, non-operating cost. High interest expense on long-term debt totaled $3.3 million in Q3 2025. This figure was consistent with prior periods.

While specific figures for content licensing and talent costs for on-air programming are not explicitly detailed in the latest public reports, these costs are inherently part of the station operating expenses that the company is working to manage alongside other overhead. The company acknowledged the passing of a legendary voice, Pierre Robert, which underscores the importance and associated costs of key on-air talent.

Investment in the future platform is reflected in capital spending. Capital expenditures for digital and engineering projects totaled approximately $2.2 million in Q3 2025. This CapEx was primarily tied to the build-out of a combined centralized engineering center and studio relocation project in Charlotte, North Carolina, which is expected to reduce annual operating expenses by nearly $1 million in 2026.

Here's a quick look at the key expense and profitability metrics from the third quarter of 2025:

Metric	Amount (Q3 2025)
Net Revenue	$51.0 million
Interest Expense	$3.3 million
Capital Expenditures (CapEx)	$2.2 million
Operating Income (Loss)	($0.3 million)
Station Operating Income (SOI)	$4.9 million
Adjusted SOI (Excluding one-time items)	$5.9 million
Adjusted EBITDA (Non-GAAP)	$3.9 million

The company's focus on structural efficiency is evident in the cost-cutting initiatives, which aim to generate higher returns on every dollar of revenue.

• Total station operating and corporate expenses reduced year-to-date: $15 million.
• Projected full-year 2025 expense reduction target: $25-30 million.
• Digital segment operating margin: 21%.
• Digital revenue share of total net revenue: 25%.

Finance: review the impact of the $2.2 million Q3 CapEx on the Q4 cash flow forecast by next Tuesday.

Beasley Broadcast Group, Inc. (BBGI) - Canvas Business Model: Revenue Streams

You're looking at how Beasley Broadcast Group, Inc. (BBGI) actually brings in the cash as of late 2025, which is definitely a story of transition. The core business is still advertising, but the mix is shifting fast.

The total net revenue for the third quarter ended September 30, 2025, was reported at $51.0 million. That figure reflects continued softness in the traditional agency advertising market, but it's being partially offset by growth in the digital and local direct sales channels.

Traditional Radio Advertising (local and national spot sales)

While the overall revenue base is still heavily reliant on broadcast, the company is seeing weakness in the agency channels, both national and local. The CEO described the pace of revenue decline as unacceptable, signaling a stronger push toward direct advertiser relationships to stabilize this segment.

Digital Advertising Revenue

This is where Beasley Broadcast Group, Inc. is seeing clear validation of its strategy. Digital revenue showed strong year-over-year growth of 14.6% in Q3 2025. This segment is now a significant portion of the overall pie.

• Digital Advertising Revenue (Q3 2025): $13.0 million.
• Digital Revenue as a Percentage of Net Revenue (Q3 2025): 25%.
• Digital segment operating margin (Q3 2025): 21%.
• Same-station digital revenue growth (YoY): Approximately 28%.

Local Direct Sales (including digital packages, accounting for 79% of Q3 net revenue)

The pivot to direct relationships is evident in the sales mix. Local direct sales, which importantly include the digital packages sold directly to local businesses, represent the largest component of the revenue base. This focus is intended to strengthen the quality of earnings by moving away from volatile agency spending.

Here's a look at the Q3 2025 revenue composition based on the reported sales mix:

Revenue Component Category	Percentage of Net Revenue (Q3 2025)	Notes
Local Revenue (including digital packages)	79%	The core direct sales effort.
Revenue from New Business	14%	Flat compared to Q3 2024.
Digital Revenue (as a segment)	25%	This figure overlaps with Local Revenue as packages are included.

Proceeds from Asset Sales (e.g., $8.0 million from WPBB-FM sale in Q3 2025)

Beasley Broadcast Group, Inc. is actively managing its balance sheet through divestitures. These transactions provide non-operational cash flow used to reduce debt and strengthen the financial footing. You can definitely see this in the quarterly results.

• Proceeds from WPBB-FM sale (closed September 29, 2025): $8.0 million.
• Agreements entered for the sale of Ft. Myers market assets: Pending FCC approval.

Event marketing, sponsorship, and non-traditional revenue

Beyond the core advertising sales, there is a growing stream from non-traditional sources, often bundled with digital offerings. This area is showing explosive growth off a smaller base, which management is keen to scale.

For example, the Audio Plus revenue stream hit over $1.2 million in Q3 2025, which was more than a 200% growth rate compared to Q2 2025. That's the kind of high-margin growth they are targeting across the board.