In 2016, Beasley bought top-rated revenue producing markets from Greater Media that had loyal audiences and highly-paid talent but as the ad market tightened, the company targeted successful stations in Boston, Philly, Detroit and Tampa in a risky attempt to cut costs -- now with multiple Nielsen books in, we have some answers.
- Cost-cutting – even messing with top-rated talent – is nothing new – all the major group have done it.
- But Beasley is a relatively small radio group which relies on a handful of markets to keep them afloat so their desperate attempt to cut costs had real implications for the entire group’s financial performance.
- What has been learned: some market moves were mixed-to-bad, others stable but shaky, quiet and telling – some downright warning of real consequences in the months ahead.
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