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Salem Media Updates Third Quarter Revenue Guidance
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Salem Media Group, Inc. (NASDAQ: SALM) revised its third quarter 2022 revenue forecast, now expecting total revenue to be flat or increase by up to 2% compared to the previous year's $66.0 million. The revision is due to the postponed release of the book 2000 Mules by Dinesh D’Souza, lower-than-anticipated revenue on SalemNOW, and a decline in advertising revenue amid a weakening economic environment.
Positive
Projected revenue for Q3 2022 is expected to remain flat or increase by up to 2% compared to the previous year.
Negative
Postponement of the book 2000 Mules may impact revenue.
Lower-than-expected revenue from SalemNOW.
Decline in advertising revenue due to a weakening economic environment.
IRVING, Texas--(BUSINESS WIRE)--
Salem Media Group, Inc. (NASDAQ: SALM) today announced revisions to its third quarter 2022 revenue. Taking into account the postponement of the forthcoming book, 2000 Mules by Dinesh D’Souza, until the fourth quarter, lower than expected revenue on SalemNOW and the impact on advertising revenue due to the weakening economic environment, the company now expects third quarter 2022 total revenue to be between flat and an increase of 2% over third quarter 2021 total revenue of $66.0 million.
ABOUT SALEM MEDIA GROUP:
Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.
Evan D. Masyr Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com
Source: Salem Media Group, Inc.
FAQ
What is Salem Media Group's updated revenue forecast for Q3 2022?
Salem Media Group expects its Q3 2022 revenue to be flat or increase by up to 2% compared to last year's $66.0 million.
Why did Salem Media Group revise its revenue expectations?
The revision is due to the postponement of the book 2000 Mules, lower revenue expectations from SalemNOW, and reduced advertising revenue due to economic conditions.
What are the implications of the book <i>2000 Mules</i> being postponed?
The postponement may negatively impact Salem Media Group's revenue for the third quarter.
How is the economic environment affecting Salem Media Group's advertising revenue?
Salem Media Group's advertising revenue has declined due to a weakening economic environment.
