Salem Media Group, a multiplatform broadcaster in the United States, has released its 2024 second quarter statement.
Like most radio broadcasters its Q2 report is filled with not great news, most importantly a continued steady decline in traditional radio revenues, also called “advertising.” And like so many, it shows a small increase in “digital” revenues, though never large enough to counter the traditional ad dropoffs.
Salem has been in the news over the last year due to a series of asset selloffs, be it stations or several of its publishing assets.
With asset sales money coming in and some expenses then being knocked off the books, thanks to the sometimes magic hocus-pocus of finance and accounting, Salem eeked out a positive second quarter and first half of 2024 number in the “Operating Income” category compared to the same periods in 2023.
Net income for Q2 was also positive but first half 2024 was dragged down overall by dreary Q1 net income numbers.
An old radio mantra is take your victories when you can.
