Slide 1: Q1 2023 Earnings Presentation
Q1 2023 EARNINGS P R E S E N TAT I O N APRIL 2023
Slide 2: Disclaimer
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: Q1 2023 Performance Summary
BEASLEY MEDIA GROUP: TOMORROW’S MEDIA COMPANY TODAY Q1 2023 PERFORMANCE SUMMARY: TOTAL NET CORPORATE G&A CAPEX REVENUE EXPENSE $57.8M $4.5M $1.2M +%4 YOY CASH AND CASH SOI EBITDA EQUIVALENTS $7.1M $2.6M $35.9M +21% YOY +60% YOY
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 84% OF SMALL BUSINESSES USE 1+ TYPE OF
Slide 8: 2. Who We Are
2. WHO WE ARE
Slide 9: Beasley Is a Leading Multiplatform Media Company
FIRMLY ROOTED IN OUR BEASLEY IS A LEADING VALUES, MULTIPLATFORM MEDIA COMPANY FEATURING: INNOVATION AUDIO 61 14 55% INTEGRITY AM and FM U.S. OTA Stations Markets Audience1 DIGITAL CONTENT COLLABORATION 144M 55.1M 503M Annual Streaming Annual Podcast Annual Sessions Downloads Pageviews PERFORMANCE ES
Slide 10: An Empire Rooted in Radio
AN EMPIRE ROOTED IN RADIO, BEASLEY HAS POSITIONED ITSELF TO BE THE ONE-STOP SHOP FOR ALL LOCAL BUSINESS ADVERTISEMENT 2024: BEYOND BEASLEY’S FUTURE FOUNDED BY COMPANY IPO ACQUIRED ACQUIRED GROWTH WILL BE GEORGE BEASLEY IN VIA NASDAQ GREATER MEDIA, ADDING 20 GUARANTEE DIGITAL, DRIVEN BY STRATEGIC STA
Slide 11: Beasley's Segments Provide Full-Service Advertising Solutions
BEASLEY’S 3 SEGMENTS PROVIDE FULL-SERVICE, INNOVATIVE ADVERTISING SOLUTIONS, AND CONNECTION WITH NEW AUDIENCES AUDIO DIGITAL OTHER BEASLEY’S ENABLING CUSTOMERS BEYOND DIGITAL AND FOUNDATIONAL TO DIGITIZE THEIR AUDIO BUSINESS BUSINESS $47.4M $10.0M $0.4M Q1 2023 REVENUE Q1 2023 REVENUE Q1 2023 REVENU
Slide 12: Audio
AUDIO AUDIO REVENUE CONTINUES TO INCREASE DUE TO BEASLEY’S UNIQUE TALENT OFFERING COMMUNITY-ENGAGING CONTENT <13% 74% 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 N
Slide 13: 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, WEBSITE DESIGN EMAIL AND PODCASTING, DISPLAY, VIDEO, MARKETING, MANAGEMENT AND STATION AND NATIVE AD SOCIAL MEDIA
Slide 14: Esports
ESPORTS UNLOCKING A NEW AUDIENCE OUR TEAMS OUTLAWS TEAM AXLE RANKED 3RD IN RANKED 11TH IN OVERWATCH LEAGUE ROCKET LEAGUE OUT OF 546 TOTAL TEAMS OUR INFLUENCE JUGGERNAUT IN-HOUSE INFLUENCER TEAM SOURCE: BLINKFIRE ANALYTICS COMMITMENT TO VIRAL CAMPAIGNS
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 Growing Audience
AUDIENCE OUR GROWING AUDIENCE METRICS 16M AVG MONTHLY AUDIO AUDIENCE1 10M AVG MONTHLY DIGITAL AUDIENCE2 3M ESPORTS FANBASE3 NOTE: DATA LTM AS OF 3/31/2023 1 AUDIO AUDIENCE REPRESENTS OTA 2 EXCL. SOCIAL MEDIA AUDIENCE AND PODCAST DOWNLOADS 3 ESPORTS AUDIENCE INCL. BEGINNING IN 2022 NOTE: CHART REFLEC
Slide 18: Engagement with Our Audience Over Multiple Platforms
ENGAGEMENT WITH OUR AUDIENCE OVER MULTIPLE PLATFORMS1 AM / FM STATIONS SOCIAL MEDIA ESPORTS 15.7M 3.6M 3M AVG MONTHLY BEASLEY SOCIAL ESPORT AUDIENCE SIZE MEDIA AUDIENCE2 AUDIENCE BEASLEY STREAMING PODCASTS WEBSITES 4.6M 7.4M 2.7M AVG MONTHLY AVG MONTHLY AVG UNIQUE DOWNLOADS UNIQUE USERS STREAMERS 1
Slide 19: Largest Average Market Share Versus Peers, According to Nielsen
BEASLEY HAS THE LARGEST AVERAGE MARKET SHARE COMPARED TO INDUSTRY PEERS, ACCORDING TO NIELSEN1 25 17 11 8 0 Q1 2022 Q1 2023 1 RANKING PERSONS AGED 25-54, AQH AVG MARKET SHARE SOURCE: NIELSEN CORPORATE ROLL-UP SURVEY, 3/31/2023
Slide 20: 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 21: 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 3X WINNER OF NAB NATIONAL SERVICE TO AMERICA AWARD FOR PUBLIC SERVICE 2022 WINNER OF CRYSTAL AWARD FOR COMMUNITY SERVICE, WMGK-FM 2022 WINNER OF BEST LOCAL RAD
Slide 22: Fun, Fresh Content That Delivers Results
FUN, FRESH CONTENT THAT DELIVERS RESULTS NEW CONTENT POSTED DAILY TO MAXIMIZE AUDIENCE ENGAGEMENT X LTM FRESH CONTENT FOSTERS AUDIENCE ENGAGEMENT ENGAGEMENT METRICS AS OF 3/31/2023 AUDIENCE ENGAGEMENT TRANSLATES INTO PAGEVIEWS 503M PAGEVIEWS 1 PAGEVIEW TRANSLATES INTO 2.4 IMPRESSIONS 137 IMPRESSIONS
Slide 23: Powerful Brand Recognition
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 3/31/2022 2 NIELSEN GROUP SHARE TREND, 3/31/2023
Slide 24: 4. Financials
4. FINANCIALS —
Slide 25: 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 26: Historical P&L Performance
HISTORICAL P&L PERFORMANCE $’S IN MILLIONS PERFORMANCE $80.00 $72 $71 $72 COMPARISON $68 $70.00 $66 $66 $65 $64 $63 $60 $60.00 $58 $58 $56 $58 $’S IN MILLIONS $50 $48 $50.00 Q1’22 Q1’23 $40.00 $30 TOTAL $55.7 $57.8 $30.00 REVENUE $20.00 CORP. $10.00 EXPENSES $4.2 $4.5 $- $(10.00) SOI $5.9 $7.1 $(20.
Slide 27: Guidance
GUIDANCE $’S IN MILLIONS 2ND QUARTER PACING AS OF 4/25/2023 INDICATES THAT Q2 PACING IS FLAT TO SLIGHTLY DOWN, AND ADJUSTED PACING IS FLAT TO SLIGHTLY UP. APRIL 2023 MAY 2023 JUNE 2023 TOTAL NET -3% -2% +2% REVENUE - PACING YOY YOY YOY TOTAL NET -1% -1% +2% REVENUE – ADJ. PACING1 YOY YOY YOY 1 EXCLU
Slide 28: Balance Sheet Items
BALANCE SHEET ITEMS $’S IN MILLIONS Q1 2022 Q1 2023 CAPEX $1.4 $1.2 CASH AND CASH $50.7 $35.9 EQUIVALENTS TOTAL DEBT $300.0 $290.0
Slide 29: 5. Looking Forward
5. LOOKING FORWARD
Slide 30: DE&I Is a Key Priority
DE&I IS A KEY PRIORITY AS A COMPANY, WE AIM TO MIRROR OUR COMMUNITIES WE CAN ONLY DO SO BY ENCOURAGING DIVERSITY, EQUITY, AND INCLUSION AT EVERY LEVEL WITHIN OUR ORGANIZATION OVER 1,100 TOTAL OPERATING EMPLOYEES1 ACROSS OUR 3 SEGMENTS: 40% FEMALE IDENTIFYING 22% BIPOC 1 INCLUDES PART-TIME AND FULL-T
Slide 31: We Are So Excited About Our Future
WE ARE SO EXCITED ABOUT OUR FUTURE EXPANDING OUR MAXIMIZE PROPRIETARY AI TO NEWLY RELEASED DIGITAL & AUDIO MONETIZATION OF ENHANCE CONTENT BRANDED MOBILE CONTENT DIGITAL PLATFORM CREATION APPS
Slide 32: Appendix
©) BEASLEY » BROADCAST GROUP APPENDIX
Slide 33: Calculation of SOI and EBITDA
CALCULATION OF SOI AND EBITDA Calculation of Station Operating Income 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 Net revenue $ 57,687,554 $ 65,658,748 $ 66,114,701 $ 72,093,111 $ 57,650,426 $ 30,383,132 $ 49
Slide 34: Reconciliation of Net Income/Loss to SOI
RECONCILIATION OF NET INCOME/LOSS TO SOI Reconciliation of Net Income (Loss) Attributable to BBGI Stockholders to Station Operating Income 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 Net income (loss) attribu
Slide 35: Reconciliation of Net Income/Loss to EBITDA
RECONCILIATION OF NET INCOME/LOSS TO EBITDA Reconciliation of Net Income (Loss) Attributable to BBGI Stockholders to EBITDA 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 Net income (loss) attributable to BBGI s
Slide 36: End
©) BEASLEY » BROADCAST GROUP