Salem Media has unveiled its 2025 financial results, and the company reported a decline in overall revenue during the year.
During 2025, the company reported $212 million in total net revenue. That represents a 10.5% year-over-year decline. Total net revenue decreased by $24 million, with advertising revenue falling $2.5 million when political advertising is excluded. Like it’s overall revenue, political advertising fell 10% in 2025 for Salem Media.
“Spot advertising revenue has been declining in the industry due to reduced time spent listening, particularly on AM radio stations,” the company said in its financial statement.
Salem’s digital division — which encompasses the Salem Podcast Network — saw a $7 million increase in advertising revenue during the year.
The company’s total operating expenses grew to $252 million during 2025. That’s a nearly 4% increase compared to the prior year. Overall, Salem Media saw its losses grow from $16 million in 2024 to $34.6 million in 2025.
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