Reporting its financial data for the first quarter of 2021,Â
Cumulus Media reveals net revenue for the period was $201.7 million, a decrease of 11.5% from the same period in 2020. The company also is reporting a net loss of $21.9 million compared to the net loss of $7.3 million from the same period in 2020. Breaking down the companyâs numbers by segment, broadcast radio spot sales was $92.9 million, a decline of 23.8% from the first quarter of 2020, while network radio
 (
Westwood One) revenue was $62 million, a dip of 5.6% year-over-year. Cumulus Mediaâs digital segment was up 23.7% on revenue of $27.1 million. Cumulus Media president and CEOÂ
Mary Berner says, âOur first quarter results clearly reflect theÂ
Saga Communications Q1 Net Revenue Down 15.5%. Reporting its financial data for the first quarter of 2021,
Saga Communications announces net revenue for the period was $22.3 million, a decline of 15.5% from the $26.1 million reported in Q1 of 2020. Station operating expense decreased $3.3 million to $18.9 million for the quarter compared to the same period last year. Station operating income was $4.7 million, down from the $5.5 million reported in the first quarter 0f 2020. Free cash flow increased 21.4% to $1.8 million for the quarter. Saga Communications reports net income of $758,000 in the first quarter, compared to $1.7 million in Q1 2020. The companyâs balance sheet reflects $56.3 million in cash on hand as of March 31, 2021 and $57.4 million as of May 3, 2021. Sagaâs total bank debt remained at $10 million as of the end of the first quarter 2021. Capital expenditures in the first quarter were $534,000 compared to $1 million for the same period last year. Saga
Wednesday, May 5, 2021
admin | May 5, 2021
Cumulus Mediaâs 2021 First Quarter Net Revenue Down 11.5%; Net Loss $21.9 Million. Reporting its financial data for the first quarter of 2021,
Cumulus Media reveals net revenue for the period was $201.7 million, a decrease of 11.5% from the same period in 2020. The company also is reporting a net loss of $21.9 million compared to the net loss of $7.3 million from the same period in 2020. Breaking down the companyâs numbers by segment, broadcast radio spot sales was $92.9 million, a decline of 23.8% from the first quarter of 2020, while network radio (
Westwood One) revenue was $62 million, a dip of 5.6% year-over-year. Cumulus Mediaâs digital segment was up 23.7% on revenue of $27.1 million. Cumulus Media president and
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Beasley Broadcast Group â parent of
Beasley Media Group â reveals a decline in net revenue of 17.8%, from $57.7 million in Q1 2020 to $48.2 million in Q1 2021. While station operating income was down, $5.2 million compared to $6.7 million in Q1 2020, Beasley greatly reduced its operating loss from $7.1 million in the first quarter of 2020 to $2.5 million in the first quarter of 2021. Beasley CEO
Caroline Beasley says, âBeasley reported 2021 first quarter financial results consistent with the expectations we outlined when we reported the 2020 fourth quarter, as our strong revenue growth in the first two months of the comparable 2020 period, prior to the onset of the pandemic, created a difficult year-over-year comparison. Though we continued to