About Beasley Broadcast Group

Beasley Broadcast Group, Inc. operates as a multi-platform media company. The company’s primary business is operating radio stations throughout the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The company owns and operates stations in the following markets: Atlanta, GA; 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; and Wilmington, DE. It refers to each group of stations in each market as a market cluster. The company operates its stations in clusters to capture a variety of demographic listener groups, which enhances its stations’ appeal to a wide range of advertisers. The primary source of revenue for the company’s stations is the sale of advertising time to local, regional and national advertisers and national network advertisers who purchase commercials in varying lengths. The company retains a national representation firm to sell to advertisers outside of its local markets. The company owns the Houston Outlaws, an esports team that competes in the Overwatch League, and an esports team that competes in the Rocket League. Ownership of the Houston Outlaws partners the company with Blizzard Entertainment and its parent company, Activision Blizzard, a leading global developer and publisher of interactive entertainment content and services. Strategy The company seeks to secure and maintain a leadership position in the markets it serves by developing high quality local content, through its audio, digital and esports platforms, including events and experiences in the communities it serves and, in turn, offer advertisers access to a highly effective marketing platform to reach large and targeted local audiences. Seasonality The company’s net revenues are typically lowest in the first quarter (year ended December 31, 2022) and generally higher in the second and fourth quarters of the year. In addition, the company’s revenues tend to fluctuate between years, consistent with, among other things, increased advertising expenditures in even-numbered years by political candidates, political parties and special interest groups. This political spending typically is heaviest during the fourth quarter of such years. Competition Competition for advertising revenues also comes directly from competitors, such as Amazon, Apple, Facebook and Google. Regulations The company’s websites are also subject to regulation relating to acquisition of personal information from children under the age of 13, including the federal Child Online Privacy Protection Act (COPPA) and the federal Controlling the Assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM). History Beasley Broadcast Group, Inc. was founded in 1961.