Caroline says that local is the foundation of her business’ success. She has 61 stations in 14 markets and she believes that she can serve her local communities in a way other stations cannot do. “We really feel that local sets us apart” she said. This has been important at Beasley Broadcast Group for years and is something they are doubling down on in the future, so that they stay close to their audience and maintain multiple revenue streams.
Developing new content is also a key part of the business. Caroline is investing into eSports, in a bid to try and reach out to younger generations and also developing car radio technologies in order to grow the reach of her products. Is it working? Yes, the Beasley Broadcast Group has grown its audience massively in the past few years and is skewing younger than ever.
Going forward, Beasley Broadcast Group is looking for holes in the market. Caroline employs consultants to do research before Beasley Broadcast Group jump into new formats and technologies. They take their time and do everything they can to make sure the time is right.
So, where is the next hole in the market? All of Caroline’s future acquisitions will be digital: advertising products, content products and events products. This is how Beasley sees the future of the markets they are working in. And this is how she sees the future of the industry. Interestingly, one of the things that Caroline was keen to stress, was how interested in the metaverse she was…