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Salem Media Group (SALM) – Transforming The Way You Think About Salem

Media and Marketing
0 min read

Wednesday, May 11, 2022

Salem Media Group (SALM)
Transforming The Way You Think About Salem

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape.

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.

Solid 1st quarter. The company reported Q1 revenue of $62.9 million, 1.8% above our estimate of $61.5 million. Adj. EBITDA of $6.85 million was virtually in line with our forecast of $6.9 million, deviating by just 0.8%.

Block programming looking strong. Block programming revenue was up 10%, which consists of 3% growth in local and 13% growth in national. This was due in part to the addition of two large ministries in the quarter. Notably, Salem has a 95%+ renewal rate with block programming….

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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