Salem Media Group (NASDAQ: SALM) is a domestic multimedia company specializing in Christian and conservative content, with media properties spanning radio broadcasting, digital media, and publishing. Revenue comes from advertising sold across its radio stations, digital properties, and multimedia advertising agency, supplemented by block programming fees from Christian ministries, digital subscription newsletters, and book and eBook sales. Salem operates in the religious and conservative media space, targeting audiences, programmers, and advertisers interested in Christian, family-themed, and conservative news talk content. The company is headquartered in Texas and is incorporated in Delaware. Its three operating segments are broadcast radio, digital media, and publishing. Salem also operates Salem Surround, a national multimedia advertising agency with locations in 29 markets across the United States (as of the FY2022 10-K filed 2023-03-13), and the Salem Podcast Network, which reaches over 13 million downloads per month.

Revenue model

Salem earns revenue through advertising sold on radio stations and digital properties, block programming fees paid by Christian ministries for airtime, digital marketing services sold through Salem Surround, paid digital newsletter subscriptions, and book and eBook sales through its publishing segment.

Products and services

Radio broadcasting of Christian and conservative talk programming; Salem Surround national multimedia advertising agency offering metasearch, retargeting, website design, reputation management, online listing services, and social media marketing across 29 U.S. markets; Salem Podcast Network serving over 13 million downloads per month; Salem News Channel conservative television network; digital properties including Townhall.com, RedState.com, PJMedia.com, GodTube.com, OnePlace.com, GodUpdates.com, CrossCards.com, ChristianHeadlines.com, LightSource.com, and CCMmagazine.com; digital investment newsletters; and Christian, family-themed, and conservative book and eBook publishing.

Customers and end markets

Advertisers seeking audiences interested in Christian, family-themed, and conservative content; Christian broadcast ministries purchasing block programming airtime; individual subscribers to digital investment newsletters; and readers of Christian and conservative books and eBooks.

Value-chain role

Content producer and distributor in the Christian and conservative media space, operating as a broadcaster, digital publisher, advertising seller, and book publisher. Salem Surround functions as a full-service digital marketing agency managing third-party advertising placements on behalf of clients.

Geographic exposure

Domestic U.S. operations across multiple radio broadcast markets. Salem Surround operates in 29 U.S. markets. Radio market rankings reference Nielsen Audio Fall 2022 Radio Market Survey data.

Source: SEC 10-K, filed 2023-03-13

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