Beasley Broadcast Group, Inc. · NASDAQ:BBGI
Beasley Broadcast — Q3 2024 Earnings Presentation
33 slides from Beasley Broadcast's earnings presentation, Nov 5, 2024
Slide 1: Q3 2024 Earnings Presentation
Q3 2024 EARNINGS P R E S E N TAT I O N NOVEMBER 2024
Slide 2: Disclaimer: Forward-Looking Statements and Non-GAAP Financial Measures
Disclaimer Forward-Looking Statements and Non-GAAP Financial Measures This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States (“GAAP”), including, without limitation, EBITDA, Statio
Slide 3: Q3 2024 Performance Summary
BEASLEY MEDIA GROUP: TOMORROW’S MEDIA COMPANY TODAY Q3 2024 PERFORMANCE SUMMARY: TOTAL NET CORPORATE G&A CAPEX REVENUE EXPENSE $58.2M $4.3M $0.6M CASH AND CASH SOI ADJ EBITDA EQUIVALENTS $8.2M $5.6M $27.8M
Slide 4: Overview
1. OUR MARKET 2. WHO WE ARE 3. OUR ADVERTISING PARTNERS jasd AND OUR AUDIENCE OVERVIEW 4. FINANCIALS 5. LOOKING FORWARD
Slide 5: 1. Our Market
1. OUR MARKET
Slide 6: Our Market
OUR MARKET LOCAL AND NATIONAL BUSINESSES LOOK TO BEASLEY FOR EFFECTIVE, INNOVATIVE WAYS TO REACH THEIR CUSTOMERS SMALL BUSINESSES BEASLEY’S MULTIMEDIA PLATFORM ENABLES SMALL BUSINESSES TO MAXIMIZE AUDIENCE REACH NATIONAL BUSINESSES LARGER COMPANIES BENEFIT FROM BEASLEY’S BRANDS AND PRESENCE, WHICH E
Slide 7: The Number of Small Businesses Is Growing in the U.S.
THE NUMBER OF SMALL BUSINESSES IS GROWING $17.0T IN THE U.S. 2030 U.S. SMALL BUSINESSES2 BUT THESE SMALL BUSINESSES ARE FAILING TO ADOPT TO MODERN DIGITAL PRACTICES, AND ARE LOSING OUT ON VALUABLE SALES OPPORTUNITIES 2/3 OF TOTAL U.S. RETAIL SALES OCCUR ONLINE1 OF SMALL BUSINESSES USE 1+ TYPE 84% OF
Slide 8: 2. Who We Are
2. WHO WE ARE
Slide 9: Firmly Rooted in Our Values, Beasley Is a Leading Multiplatform Media Company
FIRMLY ROOTED IN OUR BEASLEY IS A LEADING VALUES, MULTIPLATFORM MEDIA COMPANY FEATURING: INNOVATION AUDIO 57 12 65% AM and FM U.S. OTA INTEGRITY Stations Markets Audience1 DIGITAL CONTENT COLLABORATION 139M 42M 276M Annual Streaming Annual Podcast Annual Sessions Downloads Pageviews PERFORMANCE 1 Cu
Slide 10: An Empire Rooted in Radio, Beasley Is the One-Stop Shop
AN EMPIRE ROOTED IN RADIO, BEASLEY HAS POSITIONED ITSELF TO BE THE ONE-STOP SHOP FOR ALL LOCAL BUSINESS ADVERTISEMENT 2025: BEYOND BEASLEY’S FUTURE FOUNDED BY COMPANY IPO ACQUIRED ACQUIRED GROWTH WILL BE VIA NASDAQ GREATER MEDIA, GUARANTEE GEORGE BEASLEY IN ADDING 20 DIGITAL, DRIVEN BY STRATEGIC BEN
Slide 11: Our Company-Wide Community of Caring Commitment
OUR COMPANY-WIDE COMMUNITY OF CARING COMMITMENT FROM CREATING ONGOING PUBLIC SERVICE INITIATIVES, TO ONSITE EVENTS, WE SUPPORT OUR LOCAL COMMUNITIES BY GIVING A VOICE TO THE VOICELESS BEASLEY MEDIA GROUP’S BEASLEY OUR TEAM IN FT MYERS, IN LATE AUGUST, WTMR HOSTED ITS BEST COMMUNITY OF CARING CHARLOT
Slide 12: Beasley's Two Segments Provide Full-Service Advertising Solutions
BEASLEY’S 2 SEGMENTS PROVIDE FULL-SERVICE, INNOVATIVE ADVERTISING SOLUTIONS, AND CONNECTION WITH NEW AUDIENCES AUDIO DIGITAL1 BEASLEY’S FOUNDATIONAL BUSINESS ENABLING CUSTOMERS TO DIGITIZE THEIR BUSINESS $46.9M $11.3M Q2 2024 REVENUE Q2 2024 REVENUE 81% OF TOTAL REVENUE 19% OF TOTAL REVENUE 1 INCLUD
Slide 13: Audio
AUDIO AUDIO REVENUE CONTINUES TO INCREASE DUE TO BEASLEY’S UNIQUE TALENT OFFERING COMMUNITY-ENGAGING CONTENT 13% 73% NATIONAL REVENUE1 LOCAL REVENUE2 AS % OF TOTAL AS % OF TOTAL COMPANY REVENUE COMPANY REVENUE $’S IN MILLIONS 1 EXCLUDING POLITICAL REVENUE 2 INCLUDING DIGITAL PACKAGES SOLD LOCALLY NO
Slide 14: Digital
DIGITAL AS COMPANIES SEEK TO DIGITIZE, BEASLEY PROVIDES COMPREHENSIVE, CUSTOMIZED PACKAGES OVER A VAST RANGE OF OFFERINGS OFFERING A FULL SUITE OF PREMIER DIGITAL SERVICES DIGITAL AUDIO, EMAIL PODCASTING, DISPLAY, VIDEO, MARKETING, AND STATION AND NATIVE AD SOCIAL MEDIA, COMPANION BUYING AND SEO WEB
Slide 15: 3. Our Advertising Partners and Our Audience
3. OUR ADVERTISING PARTNERS AND OUR AUDIENCE
Slide 16: Creating Value for Our Advertiser Partners
CREATING VALUE FOR OUR ADVERTISER PARTNERS A OUR ADVERTISER PARTNERS AND THEIR BUSINESSES BENEFIT FROM THE SYNERGIES BETWEEN RADIO AND DIGITAL OUR GROWING DIGITAL CUSTOM AUDIENCE EXPERTISE PACKAGES 60+ YEARS OF EXPERTISE WE ARE BUILDING A ONE-STOP OUR CUSTOM PACKAGES ENABLES BEASLEY TO SHOP FOR ALL
Slide 17: Our Audience
AUDIENCE OUR AUDIENCE METRICS 14.5M AVG MONTHLY AUDIO AUDIENCE1,2 7.8M AVG MONTHLY DIGITAL AUDIENCE1,3 NOTE: DATA IS QUARTERLY AVERAGES AS OF 9/30/2024. CHART REFLECTS COMBINED AUDIO & DIGITAL AUDIENCE. DROP IN AUDIENCE IN Q4’23 AND ONWARD REFLECTS DIVESTURES OF WILMINGTON, ATLANTA, AND WBOS 1 REPRE
Slide 18: Engagement with Our Audience over Multiple Platforms
ENGAGEMENT WITH OUR AUDIENCE OVER MULTIPLE PLATFORMS1 AM / FM STATIONS SOCIAL MEDIA MULTI-PLATFORM CONTENT 14.6M 4.7M 68 AVG MONTHLY BEASLEY SOCIAL NUMBER OF AUDIENCE SIZE MEDIA AUDIENCE2 UNIQUE BRANDS BEASLEY STREAMING PODCASTS WEBSITES 3M 5.2M 2.6M AVG MONTHLY AVG MONTHLY AVG UNIQUE DOWNLOADS UNIQ
Slide 19: Engaging Our Audience in the Digital Age
ENGAGING OUR AUDIENCE IN THE DIGITAL AGE X INTEGRATING OUR DIGITAL AND OVER-THE-AIR AUDIENCE TOP-RATED, FRESH, UNIQUE STRONG BRAND LOCAL TALENT CONTENT RECOGNITION OUR PERSONALITIES AND DAILY EDITORIAL AND VIDEO NATIONAL BRAND RECOGNITION INFLUENCERS SHARE FRESH CONTENT POSTED BY NATIONAL BUILT OVER
Slide 20: Nationally-Acclaimed Talent and Stations
NATIONALLY-ACCLAIMED TALENT AND STATIONS OUR TOP-RATED TALENT HAS LARGELY CONTRIBUTED TO OUR SUCCESSFUL TRANSITION INTO A DIGITAL POWERHOUSE 2023 WINNERS OF MICHIGAN ASSOCATION OF BROADCASTERS, BROADCAST EXCELLENCE AWARDS, WRIF-FM AND WCSX-FM 2023 PHILADELPHIA MUSIC ALLIANCE RADIO WALK OF FAME, WMGK
Slide 21: Powerful Brand Recognition and Outreach
POWERFUL STRONG BRAND RECOGNITION OUTREACH FROM SIZEABLE LOCAL AND NATIONAL PRESENCE 5 PRO SPORTS TEAMS WITH WHOM BEASLEY HAS EXCLUSIVE RIGHTS1 1st RANKED STATION GROUP IN THE U.S. BASED ON LISTENER PREFERENCE2 1 DATA AS OF 9/30/2024 2 NIELSEN GROUP SHARE TREND, 9/30/2024
Slide 22: 4. Financials
4. FINANCIALS
Slide 23: Our Financial Goals
OUR FINANCIAL GOALS WE ARE BUILDING MOMENTUM TOWARDS OUR GOALS OF SUSTAINABLE GROWTH VIA DIVERSIFIED REVENUE STREAMS 1 2 3 INCREASE DIVERSIFY DECREASE REVENUE REVENUE LEVERAGE STREAMS
Slide 24: Historical P&L Performance
HISTORICAL P&L PERFORMANCE $’S IN MILLIONS $80.00 $72.0 PERFORMANCE $70.7 $70.00 $68.5 $65.8 COMPARISON $64.8 $62.9 $63.8 $63.5 $’S IN MILLIONS $59.6 $60.1 $60.4 $60.00 $57.8 $58.2 $55.7 Q3’24 Q3’23 $54.4 $50.00 $49.6 $48.2 TOTAL REVENUE $58.2 $60.1 TOTAL $40.00 EXPENSES $49.9 $50.1 SOI $8.2 $10.0 $
Slide 25: Balance Sheet Items
BALANCE SHEET ITEMS $’S IN MILLIONS Q3 2023 Q3 2024 CAPEX $1.0 $0.6 CASH AND CASH $29.7 $27.8 EQUIVALENTS TOTAL DEBT $287.0 $267.0
Slide 26: 5. Looking Forward
5. LOOKING FORWARD
Slide 27: We Are So Excited About Our Future
WE ARE SO EXCITED ABOUT OUR FUTURE EXPANDING OUR MAXIMIZE PROPRIETARY AI TO STREAMLINING DIGITAL & AUDIO MONETIZATION OF ENHANCE CONTENT OUR TECH STACK CONTENT DIGITAL PLATFORM CREATION AND PROCESSES
Slide 28: Appendix
©) BEASLEY « BROADCAST GROUP APPENDIX
Slide 29: Calculation of SOI and EBITDA
CALCULATION OF SOI AND EBITDA Calculation of Station Operating Income 3q 4q 1q 2q 3q 4q 1q 2q 3q 2022 2022 2023 2023 2023 2023 2024 2024 2024 Net revenue $ 63,823,288 $ 72,027,012 $ 57,779,120 $ 63,461,723 $ 60,119,757 $ 65,748,658 $ 54,380,346 $ 60,435,657 $ 58,190,116 Operating expenses (51,511,69
Slide 30: Reconciliation of Net Income/Loss to SOI
RECONCILIATION OF NET INCOME/LOSS TO SOI Reconciliation of Net Loss Attributable to BBGI Stockholders to Station Operating Income 3q 4q 1q 2q 3q 4q 1q 2q 3q 2022 2022 2023 2023 2023 2023 2024 2024 2024 Net loss attributable to BBGI stockholders 498,068 (17,869,178) (3,536,566) (10,430,629) (67,536,8
Slide 31: Reconciliation of Net Income/Loss to EBITDA
RECONCILIATION OF NET INCOME/LOSS TO EBITDA Reconciliation of Net Loss Attributable to BBGI Stockholders to EBITDA 3q 4q 1q 2q 3q 4q 1q 2q 3q 2022 2022 2023 2023 2023 2023 2024 2024 2024 Net loss attributable to BBGI stockholders 498,068 (17,869,178) (3,536,566) (10,430,629) (67,536,837) 6,580,317 7
Slide 32: Reconciliation of Net Loss to Adj EBITDA
RECONCILIATION OF NET LOSS TO ADJ EBITDA
Slide 33: End
©) BEASLEY « BROADCAST GROUP END
Beasley Broadcast Group — Q3 2024 Earnings Presentation on 6ix