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LAYOFFS ONGOING AT BEASLEY MEDIA GROUP

The budget ax appears to have hit WCSX in Detroit. Dave Dahmer (afternoons) and Jim Palucci (weeknights) appear to be gone.
 
TheBigA said:
Beasley execs discussed their 3rd quarter financials earlier this week:
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If I were running any radio or TV group, I certainly wouldn't count on automotive to come back to any greater margin. You've got manufacturers like Ford and Fiat Chrysler (Stellantis) who are sick of dealers marking up vehicles 30-50% without approval, jacking-it to consumers, hurting the reputation of the brand. Once the manufacturers move to on-line sales only with manufacturer-owned service facilities, there will be no local new car dealers to buy local radio. What ads remaining will be only national buys. If you own stations in higher than market 50, you'll never see a dime of those dollars.

The question will be; can formerly pure-play radio groups like Beasley, move revenue from radio to digital that would satisfy the appetite of Wall Street? In my mind; just too much competition in that sector. These groups are too late to the tech party to actually have enough impact.
 
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Kelly A said:
The question will be; can formerly pure-play radio groups like Beasley, move revenue from radio to digital that would satisfy the appetite of Wall Street?
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The problem with digital is that while it is growing, the actual dollars aren't big enough to replace broadcast. Digital is mostly national, and Beasley is set up as a mainly local business model. So the national digital dollars won't help the staffing situation at local stations.
 
TheBigA said:
The problem with digital is that while it is growing, the actual dollars aren't big enough to replace broadcast. Digital is mostly national, and Beasley is set up as a mainly local business model. So the national digital dollars won't help the staffing situation at local stations.
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Sure, and trying to bolster the business with digital involves significant investment and risk. One tried to get ahead of the curve like Townquare or iHeart while you still have capital to spin up new opportunities. Not when the company is on a ride downhill with fading brakes.
 
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