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Beasley Broadcast Group, Inc. (BBGI) CEO Caroline Beasley on Q3 2021 Results - Earnings Call Transcript

Nov. 02, 2021 7:24 PM ETBeasley Broadcast Group, Inc. (BBGI)
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Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q3 2021 Earnings Conference Call November 2, 2021 10:00 AM ET

Company Participants

Caroline Beasley - CEO

Marie Tedesco - CFO


Good morning, and welcome to Beasley Broadcast Group's Third Quarter 2021 Conference Call.

Before proceeding, I would like to emphasize that today's conference call and webcast will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors section of our most recent annual report on Form 10-K as supplemented by our quarterly reports on Form 10-Q.

Today's webcast will also contain a discussion of certain non-GAAP financial measures within the meaning of Item 10 of Regulation S-K. A reconciliation of these non-GAAP measures, with their most directly comparable financial measures calculated and presented in accordance with GAAP, can be found on this morning's news announcement and on the company's website.

I would also remind listeners that following its completion, a replay of today's call can be accessed for 5 days on the company's website, www.bbgi.com. You can also find a copy of today's press release on the investors or press room sections of the site.

At this time, I would like to turn the conference over to your host, Beasley Broadcast Group's CEO, Caroline Beasley. Please go ahead.

Caroline Beasley

Thank you, David, and good morning, everybody. Thank you for joining us to review our third quarter results. Marie Tedesco, our CFO, is with me this morning. So I'm pleased to report strong third quarter results where we again generated revenue increases both quarter-over-quarter and year-over-year. We delivered overall third quarter revenue growth of 26.7% with over-the-year local spot revenue increasing 31% and national spot revenue increasing 23%. While the Delta variant impacted some markets mid-quarter, we continue to see an overall rebound from the pandemic, including improvements in core radio advertising as well as from

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