Tuesday, July 26, 2022
Beasley Broadcast Group (BBGI)
Raises Its Digital Game
Beasley Broadcast Group, Inc. owns and operates 61 stations (47 FM and 14 AM) in 15 large- and mid-size markets in the United States. Approximately 20 million consumers listen to the Company’s radio stations weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company’s brands and personalities through digital platforms such as Facebook, Twitter, text messaging, digital and web applications and email. The Overwatch League’s Houston Outlaws esports team is a wholly owned subsidiary. The Company also owns BeasleyXP, a national esports content hub, and AXLR-R8, a Rocket League Championship Series team, in its esports portfolio. For more information, please visit www.bbgi.com.
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.
Non-deal road show highlights: Marie Tedesco, CFO, accompanied by Tina Murley, CRO, highlighted the company’s growing digital business, improving efficiency, and strong local advertising base at meetings to investors last week in St. Louis. This report recaps the key topics discussed.
New digital revenue stream. Beasley recently purchased a digital marketing agency, a one-stop shop for small businesses for digital advertising, web site development, search optimization, and social media monitoring, among others. Beasley charges $500 to $1500 per month for the service, which represents an entirely new recurring revenue stream for the company. The company plans for Digital to be 40% of its business in 2 years, above its previous estimate of 30%.
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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.