Beasley Broadcast Group, Inc. is a U.S. multi-platform media company that operates radio stations across 12 market clusters and provides integrated advertising and marketing solutions via audio, digital, and event platforms.

# Beasley Broadcast Group, Inc.

## Company overview
Beasley Broadcast Group, Inc. (BBGI) is a multi-platform media company that operates radio stations across the United States and provides integrated marketing solutions to advertisers through audio, digital, and event platforms.

## Markets and clusters
BBGI operates in 12 markets, each organized as a market cluster:
- Augusta, GA
- Boston, MA
- Charlotte, NC
- Detroit, MI
- Fayetteville, NC
- Fort Myers–Naples, FL
- Las Vegas, NV
- Middlesex, NJ
- Monmouth, NJ
- Morristown, NJ
- Philadelphia, PA
- Tampa–St. Petersburg, FL

## Business model
Revenue is primarily generated from selling advertising time (local, regional, national, and network). The company also generates growing revenue from digital product suites and integrated digital advertising solutions, and uses a national representation firm to sell advertising outside its local markets.

## Segments
BBGI reports two segments:
- Audio: traditional radio operations
- Digital: streaming and other digital advertising activities

## Key context
- The Board has suspended quarterly dividends.
- The company carries substantial long-term debt and faced going-concern considerations at year-end 2025.

## Size and workforce
- Full-time employees (as of April 1, 2026): 460  
- Part-time employees (as of April 1, 2026): 244

## Markets and concentration
- The company’s stations are concentrated in 12 market clusters (listed above).
- Boston, Detroit, and Philadelphia accounted for 58% of net revenue in 2025 (and 58% in 2024).

## Revenue and income (year ended December 31)
- Net revenue:
  - 2025: $205.94 million
  - 2024: $240.29 million
- Revenue by segment:
  - Audio
    - 2025: $156.47 million
    - 2024: $193.56 million
  - Digital
    - 2025: $49.47 million
    - 2024: $46.73 million
- Net income (loss):
  - 2025: net loss of $196.55 million
  - 2024: net loss of $5.89 million

Additional financial context:
- The 2025 net loss included large impairment charges related to FCC licenses (approximately $224.8 million across reporting units) and debt-related charges; 2024 included smaller impairment and restructuring effects.

## Financial position highlights
- The company carried significant long-term debt at year-end 2025.
- Stockholders’ equity was negative, approximately -$49.33 million at year-end 2025.
- Auditors raised going-concern considerations reflecting substantial doubt about the company’s ability to continue as a going concern without refinancing or other liquidity improvements.

## Operational notes
- A relatively small set of markets generated a majority of revenue: Boston, Detroit, and Philadelphia produced 58% of net revenue in both 2025 and 2024.
- Management is pursuing liquidity actions and refinancing initiatives, including potential asset sales and debt refinancings, reflected in 2025–2026 reporting and subsequent transaction activity.

Beasley Broadcast Group, Inc. is a multi-platform media company engaging in the operation of radio stations and providing integrated marketing solutions across the U.S.

# Company Overview

**Beasley Broadcast Group, Inc.** is a multi-platform media company primarily engaged in the operation of radio stations across various markets in the United States. The company also offers integrated marketing solutions to local and national advertisers through its audio, digital, and event platforms.

### Key Details

- **Founded:** 1999
- **Headquarters:** Naples, FL
- **Employee Count:** 542 full-time employees and 270 part-time employees as of March 18, 2025.
  
### Operations

- **Radio Stations:** 
  - Owns and operates radio stations in multiple markets, including:
    - Augusta, GA
    - Boston, MA
    - Charlotte, NC
    - Detroit, MI
    - Fayetteville, NC
    - Fort Myers-Naples, FL
    - Las Vegas, NV
    - Middlesex, NJ
    - Monmouth, NJ
    - Morristown, NJ
    - Philadelphia, PA
    - Tampa-Saint Petersburg, FL

- **Market Clusters:** All radio stations in a particular market form what is referred to as a "market cluster."

### Revenue Model

- **Primary Revenue Source:** Sale of advertising time to local, regional, and national advertisers.
- **Additional Revenue Streams:**
  - Integrated digital product suites for enhanced audience interaction.
  - Event promotions and experiences.
  
- **Revenue Performance:**
  - Specific revenue figures are not provided in the summary, but a focus on local advertising indicates a reliance on market-specific spending.
  - **Key Markets Contribution:** Stations in Boston, MA, Detroit, MI, and Philadelphia, PA contributed 58% of total net revenue in 2024.

### Competition

- Faces competition from other radio stations, broadcast television, digital media platforms, and large advertising competitors such as Amazon, Apple, Meta, and Alphabet.
  
### Strategic Goals

- Aims to maintain a leadership position in the markets served by:
  - Developing high-quality local content.
  - Capturing diverse demographic listener groups to enhance appeal to advertisers.
  - Conducting extensive market research to optimize audience ratings.

### Regulatory Environment

- Subject to extensive regulations from the Federal Communications Commission (FCC), affecting licensing and operation. 

### Future Plans

- The company continues to innovate in digital content and advertising strategies to adapt to shifting consumer preferences and technological advancements.

### Importance of Licenses

- The company holds significant FCC licenses, essential for its broadcasting operations, with 71% of its total assets represented by these licenses as of December 31, 2024.

### Summary

Beasley Broadcast Group, Inc. is a significant player in the radio broadcasting industry, actively working to expand its digital offerings and maintain a competitive edge in a rapidly evolving media landscape. Its operations, underpinned by a diverse portfolio of radio stations and strategic relationships with advertisers, position it for potentially continued growth in the future.

BEASLEY BROADCAST GROUP INC

10-K / April 8, 2026

10-K / March 26, 2025

10-K / April 8, 2026

Beasley Broadcast Group, Inc.

Company overview

Markets and clusters

Business model

Segments

Key context

Size and workforce

Markets and concentration

Revenue and income (year ended December 31)

Financial position highlights

Operational notes