Beasley Broadcast Group (BBGI) – Building A Digital Agency With A Hyper Local Strategy

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Tuesday, January 25, 2022

Beasley Broadcast Group (BBGI)
Building A Digital Agency With A Hyper Local Strategy

Beasley Broadcast Group Inc is a radio broadcasting company, engaged in operating radio stations throughout the United States. It operates radio stations including FM and AM radio stations located in large and mid-sized markets in the United States. The company owns and operates radio stations in the following radio 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, West Palm Beach-Boca Raton, FL, and Wilmington, DE. It is also a multi-platform, marketing solutions provider that offers on-air, online, and mobile and social media applications. The main source of revenue is the sale of advertising.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Initiating coverage. We are initiating coverage on the shares of Beasley Media Group (BBGI). We believe that Beasley should benefit from an advertising recovery in 2022 and from the influx of Political advertising. More importantly, the company plans to invest in the growth of its Digital businesses, which should accelerate revenue growth and drive long-term margin expansion.

    Revenue rebound expected.  Revenues in 2022 should benefit from an advertising recovery, influx of Political advertising, improved Auto advertising following chain supply issues in 2021, strong Digital revenues, and improving trends in its esports segment. We conservatively estimate that the company will not completely recover core Radio revenues to 2019 levels, which offers revenue upside …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

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