Beasley Broadcast (BBGI) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Trading Symbol	BBGI
Entity Registrant Name	BEASLEY BROADCAST GROUP, INC.
Entity Central Index Key	0001099160
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Address, State or Province	FL
Entity Tax Identification Number	65-0960915
Entity Address, Address Line One	3033 Riviera Drive
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Naples
Entity Address, Postal Zip Code	34103
City Area Code	239
Local Phone Number	263-5000
Security Exchange Name	NASDAQ
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Entity File Number	000-29253
Entity Incorporation, State or Country Code	DE
Document Transition Report	false
Document Quarterly Report	true
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,731,019
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,662,743

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 50,706,697	$ 51,378,642
Accounts receivable, less allowance for doubtful accounts of $1,720,477 in 2021 and $1,510,422 in 2022	42,112,420	53,378,437
Prepaid expenses	3,830,697	4,044,056
Other current assets	2,864,958	3,397,418
Total current assets	99,514,772	112,198,553
Property and equipment, net	49,425,164	49,843,166
Operating lease right-of-use assets	34,398,390	34,155,175
Finance lease right-of-use assets	316,667	320,000
FCC licenses	506,556,687	508,413,913
Goodwill	28,596,547	28,596,547
Other intangibles, net	22,035,202	22,697,207
Other assets	5,789,238	5,863,501
Total assets	746,632,667	762,088,062
Current liabilities:
Accounts payable	7,356,456	6,995,081
Operating lease liabilities	7,666,536	7,693,831
Finance lease liabilities	0	1,945
Other current liabilities	22,786,966	29,811,226
Total current liabilities	37,809,958	44,502,083
Due to related parties	348,015	372,193
Long-term debt, net of unamortized debt issuance costs	294,170,103	293,789,892
Operating lease liabilities	29,029,363	28,747,450
Deferred tax liabilities	109,832,130	115,689,317
Other long-term liabilities	15,902,094	15,904,829
Total liabilities	487,091,663	499,005,764
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued
Additional paid-in capital	151,123,818	150,896,611
Treasury stock, Class A common stock; 3,552,455 shares in 2021; 3,568,662 shares in 2022	(29,050,959)	(29,021,360)
Retained earnings	138,481,549	142,220,494
Accumulated other comprehensive loss	(1,046,357)	(1,046,357)
Total stockholders' equity	259,541,004	263,082,298
Total liabilities and stockholders' equity	746,632,667	762,088,062
Class A Common Stock [Member]
Stockholders' equity:
Common stock	16,291	16,248
Class B Common Stock [Member]
Stockholders' equity:
Common stock	$ 16,662	$ 16,662

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 1,510,422	$ 1,720,477
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Class A Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	16,292,646	16,249,312
Common stock, shares outstanding	12,723,984	12,696,857
Treasury stock, Class A common stock shares	3,568,662	3,552,455
Class B Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	16,662,743	16,662,743
Common stock, shares outstanding	16,662,743	16,662,743

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net revenue	$ 55,720,268	$ 48,212,040
Operating expenses:
Operating expenses (including stock-based compensation of $70,931 in 2021 and $78,223 in 2022 and excluding depreciation and amortization shown separately below)	49,830,436	42,967,871
Corporate expenses (including stock-based compensation of $449,870 in 2021 and $149,027 in 2022)	4,233,460	3,905,289
Depreciation and amortization	2,515,900	2,951,901
Impairment loss	1,857,226	0
Gain on disposition	0	(191,988)
Other operating expenses	0	1,100,000
Total operating expenses	58,437,022	50,733,073
Operating income (loss)	(2,716,754)	(2,521,033)
Non-operating income (expense):
Interest expense	(6,849,037)	(5,778,071)
Loss on extinguishment of long-term debt	0	(4,996,731)
Other income, net	872	38,413
Loss before income taxes	(9,564,919)	(13,257,422)
Income tax benefit	(5,849,318)	(2,602,886)
Loss before equity in earnings of unconsolidated affiliates	(3,715,601)	(10,654,536)
Equity in earnings of unconsolidated affiliates, net of tax	(23,344)	(30,105)
Net loss	(3,738,945)	(10,684,641)
Earnings attributable to noncontrolling interest	0	129,249
Net loss attributable to BBGI stockholders	$ (3,738,945)	$ (10,555,392)
Net loss attributable to BBGI stockholders per Class A and B common share:
Basic and diluted	$ (0.13)	$ (0.36)
Weighted average shares outstanding:
Basic and diluted	29,370,789	29,302,799

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-based compensation	$ 227,250	$ 520,801
Station Operating Expenses [Member]
Stock-based compensation	78,223	70,931
Corporate General and Administrative Expenses [Member]
Stock-based compensation	$ 149,027	$ 449,870

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (3,738,945)	$ (10,684,641)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock-based compensation	227,250	520,801
Provision for bad debts	77,498	(1,472,165)
Depreciation and amortization	2,515,900	2,951,901
Impairment loss	1,857,226	0
Gain on disposition	0	(191,988)
Amortization of loan fees	380,211	411,363
Loss on extinguishment of long-term debt	0	4,996,731
Deferred income taxes	(5,849,318)	(2,602,886)
Equity in earnings of unconsolidated affiliates	23,344	30,105
Change in operating assets and liabilities:
Accounts receivable	11,188,519	12,180,235
Prepaid expenses	213,359	(1,399,765)
Other assets	570,082	1,286,882
Accounts payable	361,375	(5,814,875)
Other liabilities	(7,069,648)	1,870,041
Other operating activities	(21,479)	272,268
Net cash provided by operating activities	735,374	2,354,007
Cash flows from investing activities:
Capital expenditures	(1,375,775)	(1,029,268)
Proceeds from dispositions	0	362,500
Net cash used in investing activities	(1,375,775)	(666,768)
Cash flows from financing activities:
Issuance of debt	0	310,000,000
Payments on debt	0	(268,500,000)
Payment of debt issuance costs	0	(7,604,215)
Reduction of finance lease liabilities	(1,945)	(17,543)
Purchase of treasury stock	(29,599)	(114,308)
Net cash provided by (used in) financing activities	(31,544)	33,763,934
Net increase in cash and cash equivalents	(671,945)	35,451,173
Cash and cash equivalents at beginning of period	51,378,642	20,759,432
Cash and cash equivalents at end of period	50,706,697	56,210,605
Cash paid for interest	12,937,576	1,836,787
Cash paid for income taxes	61,000	1,374,403
Supplemental disclosure of non-cash investing and financing activities:
Acquisition of noncontrolling interest	0	4,490,130
Extinguishment of trade sales payable	0	934,500
Class A Common Stock [Member]
Supplemental disclosure of non-cash investing and financing activities:
Class A common stock returned to treasury stock	$ 0	$ 670,594

Interim Financial Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Financial Statements	(1) Interim Financial Statements The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of Beasley Broadcast Group, Inc. and its subsidiaries (the “Company”) included in the Company’s Annual Report on Form 10-K 10-Q S-X.

Disposition

Disposition	3 Months Ended
	Mar. 31, 2022
Disposition [Abstract]
Disposition	(2) Disposition On April 1, 2022, the Company completed the sale of substantially all of the assets used in the operations of WWNN-AM million in cash. As a result of the sale, the Company recorded an impairment loss of million related to the FCC license during the first quarter of 2022.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	(3) Long-Term Debt Long-term debt is comprised of the following: December 31, March 31, Secured notes $ 300,000,000 $ 300,000,000 Less unamortized debt issuance costs (6,210,108 ) (5,829,897 ) $ 293,789,892 $ 294,170,103 On February 2, 2021, the Company issued $300.0 million aggregate principal amount of 8.625% senior secured notes due on February 1, 2026 (the “Notes”) under an indenture dated February 2, 2021 (the “Indenture”). Interest on the Notes accrues at the rate of 8.625% per annum and is payable semiannually in arrears on February 1 and August 1 of each year. The Notes are secured on a first-lien priority basis by substantially all assets of the Company and its majority owned subsidiaries and are guaranteed jointly and severally by the Company and its majority owned subsidiaries. The Indenture contains restrictive covenants that limit the ability of the Company and its subsidiaries to, among other things, incur additional indebtedness, guarantee indebtedness or issue disqualified stock or, in the case of such subsidiaries, preferred stock; pay dividends on, repurchase or make distributions in respect of our capital stock or make other restricted payments; make certain investments or acquisitions; sell, transfer or otherwise convey certain assets; create liens; enter into agreements restricting certain subsidiaries’ ability to pay dividends or make other intercompany transfers; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; enter into transactions with affiliates; prepay certain kinds of indebtedness; and issue or sell stock of its subsidiaries. Prior to February 1, 2025, the Company will be subject to certain premiums, as defined in the Indenture, for optional or mandatory (upon certain contingent events) redemption of some or all of the Notes. In April 2022, the Company repurchased % of the principal amount. As a result of the repurchase, the Company recorded an aggregate gain on extinguishment of long-term debt of second

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	(4) Stockholders’ Equity The changes in stockholders’ equity are as follows: Three months ended March 3 1 2021 2022 Beginning balance $ 267,101,820 $ 263,082,298 Stock-based compensation 520,801 227,250 Acquisition of noncontrolling interest (4,490,130 ) — Purchase of treasury stock (784,902 ) (29,599 ) Net loss (10,684,641 ) (3,738,945 ) Elimination of noncontrolling interest 1,076,849 — Ending balance $ 252,739,797 $ 259,541,004

Net Revenue

Net Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Net Revenue	(5) Net Revenue Net revenue is comprised of the following: Three months ended March 31, 2021 2022 Audio $ 41,729,602 $ 47,365,145 Digital 5,763,728 7,808,250 Other 718,710 546,873 $ 48,212,040 $ 55,720,268 The Company recognizes revenue when it satisfies a performance obligation under a contract with an advertiser. The transaction price is allocated to performance obligations based on executed contracts which represent relative standalone selling prices. Payment is generally due within 30 days, although certain advertisers are required to pay in advance. Revenues are reported at the amount the Company expects to be entitled to receive under the contract. The Company has elected to use the practical expedient to expense sales commissions as incurred. Payments received from advertisers before the performance obligation is satisfied are recorded as deferred revenue in the balance sheet. Substantially all deferred revenue is recognized within twelve months of the payment date. December 31, March 31, Deferred revenue $ 3,085,370 $ 3,092,825 Three months ended March 31, 2021 2022 Losses on receivables $ 1,095,313 $ 287,553 Audio revenue includes revenue from the sale or trade of aired commercial spots to advertisers directly or through national, regional or local advertising agencies. Each commercial spot is considered a performance obligation. Revenue is recognized when the commercial spots have aired. Trade sales are recorded at the estimated fair value of the goods or services received. If commercial spots are aired before the goods or services are received, then a trade sales receivable is recorded. If goods or services are received before the commercial spots are aired, then a trade sales payable is recorded. Other revenue includes revenue from concerts, promotional events, talent fees and other miscellaneous items. Such revenue is generally recognized when the concert, promotional event, or talent services are completed. December 31, March 31, Trade sales receivable $ 881,885 $ 934,421 Trade sales payable 614,467 636,476 Three months ended March 31, 2021 2022 Trade sales revenue $ 929,597 $ 1,372,573 Digital revenue includes revenue from the sale of streamed commercial spots, station-owned assets and third-party products. Each streamed commercial spot, station-owned asset and third-party product is considered a performance obligation. Revenue is recognized when the commercial spots have streamed. Station-owned assets are generally scheduled over a period of time and revenue is recognized over time as the digital items are used for advertising content except for streamed commercial spots. Third-party products are generally scheduled over a period of time with an impression target each month. Revenue from the sale of third-party products is recognized over time as the digital items are used for advertising content and impression targets are met each month.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	(6) Stock-Based Compensation The Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “2007 Plan”) permits the Company to issue up to 7.5 million shares of Class A common stock. The 2007 Plan allows for eligible employees, directors and certain consultants of the Company to receive restricted stock units, shares of restricted stock, stock options or other stock-based awards. The restricted stock units that have been granted under the 2007 Plan generally vest over one to five years of service. A summary of restricted stock unit activity is presented below: Units Weighted- Grant-Date Unvested as of January 1, 2022 940,834 $ 2.77 Granted 26,316 1.90 Vested (43,334 ) 2.63 Forfeited (5,000 ) 2.85 Unvested as of March 31, 2022 918,816 $ 2.75 As of March 31, 2022, there was $1.6 million of total unrecognized compensation cost for restricted stock units granted under the 2007 Plan. That cost is expected to be recognized over a weighted-average period of 2.2 years.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes The Company’s effective tax rate was 20% and 61% for the three months ended March 31, 2021 and 2022, respectively. These rates differ from the federal statutory rate of 21% due to the effect of state income taxes, certain non-taxable

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings per share	(8) Earnings Per Share Earnings per share calculation information is as follows: Three months ended March 31, 2021 2022 Net loss attributable to BBGI stockholders $ (10,555,392 ) $ (3,738,945 ) Weighted-average shares outstanding: Basic 29,302,799 29,370,789 Effect of dilutive restricted stock units and restricted stock — — Diluted 29,302,799 29,370,789 Net loss attributable to BBGI stockholders per Class A and Class B common share – $ (0.36 ) $ (0.13 ) The Company excluded the effect of restrictive stock units and restricted stock under the treasury stock method when reporting a net loss as the addition of shares was anti-dilutive. The number of shares excluded was 32,166 and 178,625 for the three months ended March 31, 2021 and 2022, respectively.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Financial Instruments	(9) Financial Instruments The carrying amount of the Company’s financial instruments including cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term nature of these financial instruments. The estimated fair value of the Notes, based on available market information, was million as of December 31, 2021 and March 31, 2022, respectively. The Company used Level 2 measurements under the fair value measurement hierarchy to determine the estimated fair value of the Notes.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	(10) Segment Information The Company currently operates three operating segments (Audio, Digital, esports) and two reportable segments (Audio, Digital). The identification of segments is consistent with how the segments report to and are managed by the Company’s Chief Executive Officer (the Company’s Chief Operating Decision Maker). The Audio segment generates revenue primarily from the sale of commercial advertising to customers of the Company’s radio stations in the following radio markets: Atlanta, GA, Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Fort Myers-Naples, FL, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, Tampa-Saint Petersburg, FL, and Wilmington, DE. The Digital segment generates revenue primarily from the sale of digital advertising to customers of the Company’s radio stations and other advertisers throughout the United States. Corporate includes general and administrative expenses and certain other income and expense items not allocated to the operating segments. Non-operating Reportable segment information for the three months ended March 31, 2022 is as follows: Audio Digital Other Corporate Total Net revenue $ 47,365,145 $ 7,808,250 $ 546,873 $ — $ 55,720,268 Operating expenses 40,683,812 8,401,763 744,861 — 49,830,436 Corporate expenses — — — 4,233,460 4,233,460 Depreciation and amortization 1,621,827 4,464 695,348 194,261 2,515,900 Impairment loss 1,857,226 — — — 1,857,226 Operating income (loss) $ 3,202,280 $ (597,977 ) $ (893,336 ) $ (4,427,721 ) $ (2,716,754 ) Audio Digital Other Corporate Total Capital expenditures $ 1,181,994 $ 1,844 $ 60,682 $ 142,230 $ 1,386,750 Reportable segment information for the three months ended March 31, 2021 is as follows: Audio Digital Other Corporate Total Net revenue $ 41,729,602 $ 5,763,728 $ 718,710 $ — $ 48,212,040 Operating expenses 34,735,469 7,257,915 974,487 — 42,967,871 Corporate expenses — — — 3,905,289 3,905,289 Depreciation and amortization 2,004,377 — 811,903 135,621 2,951,901 Gain on disposition (191,988 ) — — — (191,988 ) Other operating expense s 500,000 — — 600,000 1,100,000 Operating income (loss) $ 4,681,744 $ (1,494,187 ) $ (1,067,680 ) $ (4,640,910 ) $ (2,521,033 ) Audio Digital Other Corporate Total Capital expenditures $ 712,945 $ — $ 2,852 $ 313,471 $ 1,029,268 Reportable segment information as of March 31, 2022 is as follows: Audio Digital Other Corporate Total Property and equipment, net $ 45,272,758 $ 71,927 $ 81,543 $ 3,998,936 $ 49,425,164 FCC licenses 506,556,687 — — — 506,556,687 Goodwill 25,377,447 — 3,219,100 — 28,596,547 Other intangibles, net 1,940,820 — 19,914,719 179,663 22,035,202 Reportable segment information as of December 31, 2021 is as follows: Audio Digital Other Corporate Total Property and equipment, net $ 45,696,008 $ 74,547 $ 21,644 $ 4,050,967 $ 49,843,166 FCC licenses 508,413,913 — — — 508,413,913 Goodwill 25,377,447 — 3,219,100 — 28,596,547 Other intangibles, net 1,974,093 — 20,543,451 179,663 22,697,207

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt is comprised of the following: December 31, March 31, Secured notes $ 300,000,000 $ 300,000,000 Less unamortized debt issuance costs (6,210,108 ) (5,829,897 ) $ 293,789,892 $ 294,170,103

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Changes in Stockholders Equity	The changes in stockholders’ equity are as follows: Three months ended March 3 1 2021 2022 Beginning balance $ 267,101,820 $ 263,082,298 Stock-based compensation 520,801 227,250 Acquisition of noncontrolling interest (4,490,130 ) — Purchase of treasury stock (784,902 ) (29,599 ) Net loss (10,684,641 ) (3,738,945 ) Elimination of noncontrolling interest 1,076,849 — Ending balance $ 252,739,797 $ 259,541,004

Net Revenue (Tables)

Net Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Composition of Revenue	Net revenue is comprised of the following: Three months ended March 31, 2021 2022 Audio $ 41,729,602 $ 47,365,145 Digital 5,763,728 7,808,250 Other 718,710 546,873 $ 48,212,040 $ 55,720,268
Deferred Revenue	December 31, March 31, Deferred revenue $ 3,085,370 $ 3,092,825 Three months ended March 31, 2021 2022 Losses on receivables $ 1,095,313 $ 287,553
Trade Sale Revenue	December 31, March 31, Trade sales receivable $ 881,885 $ 934,421 Trade sales payable 614,467 636,476 Three months ended March 31, 2021 2022 Trade sales revenue $ 929,597 $ 1,372,573

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted Stock Units and Restricted Stock Activity	A summary of restricted stock unit activity is presented below: Units Weighted- Grant-Date Unvested as of January 1, 2022 940,834 $ 2.77 Granted 26,316 1.90 Vested (43,334 ) 2.63 Forfeited (5,000 ) 2.85 Unvested as of March 31, 2022 918,816 $ 2.75

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Net Income Per Share	Earnings per share calculation information is as follows: Three months ended March 31, 2021 2022 Net loss attributable to BBGI stockholders $ (10,555,392 ) $ (3,738,945 ) Weighted-average shares outstanding: Basic 29,302,799 29,370,789 Effect of dilutive restricted stock units and restricted stock — — Diluted 29,302,799 29,370,789 Net loss attributable to BBGI stockholders per Class A and Class B common share – $ (0.36 ) $ (0.13 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Summary of reportable segment information	Reportable segment information for the three months ended March 31, 2022 is as follows: Audio Digital Other Corporate Total Net revenue $ 47,365,145 $ 7,808,250 $ 546,873 $ — $ 55,720,268 Operating expenses 40,683,812 8,401,763 744,861 — 49,830,436 Corporate expenses — — — 4,233,460 4,233,460 Depreciation and amortization 1,621,827 4,464 695,348 194,261 2,515,900 Impairment loss 1,857,226 — — — 1,857,226 Operating income (loss) $ 3,202,280 $ (597,977 ) $ (893,336 ) $ (4,427,721 ) $ (2,716,754 ) Audio Digital Other Corporate Total Capital expenditures $ 1,181,994 $ 1,844 $ 60,682 $ 142,230 $ 1,386,750 Reportable segment information for the three months ended March 31, 2021 is as follows: Audio Digital Other Corporate Total Net revenue $ 41,729,602 $ 5,763,728 $ 718,710 $ — $ 48,212,040 Operating expenses 34,735,469 7,257,915 974,487 — 42,967,871 Corporate expenses — — — 3,905,289 3,905,289 Depreciation and amortization 2,004,377 — 811,903 135,621 2,951,901 Gain on disposition (191,988 ) — — — (191,988 ) Other operating expense s 500,000 — — 600,000 1,100,000 Operating income (loss) $ 4,681,744 $ (1,494,187 ) $ (1,067,680 ) $ (4,640,910 ) $ (2,521,033 ) Audio Digital Other Corporate Total Capital expenditures $ 712,945 $ — $ 2,852 $ 313,471 $ 1,029,268 Reportable segment information as of March 31, 2022 is as follows: Audio Digital Other Corporate Total Property and equipment, net $ 45,272,758 $ 71,927 $ 81,543 $ 3,998,936 $ 49,425,164 FCC licenses 506,556,687 — — — 506,556,687 Goodwill 25,377,447 — 3,219,100 — 28,596,547 Other intangibles, net 1,940,820 — 19,914,719 179,663 22,035,202 Reportable segment information as of December 31, 2021 is as follows: Audio Digital Other Corporate Total Property and equipment, net $ 45,696,008 $ 74,547 $ 21,644 $ 4,050,967 $ 49,843,166 FCC licenses 508,413,913 — — — 508,413,913 Goodwill 25,377,447 — 3,219,100 — 28,596,547 Other intangibles, net 1,974,093 — 20,543,451 179,663 22,697,207

Disposition - Additional Inform

Disposition - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Proceeds from dispositions	$ 0	$ 362,500
Licensing Agreements [Member]
Business Acquisition [Line Items]
Loss on disposition	1.9
WWNNAM [Member] | West Palm Beach Boca Raton [Member]
Business Acquisition [Line Items]
Proceeds from dispositions	$ 1.25

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Less unamortized debt issuance costs	$ (5,829,897)	$ (6,210,108)
Long-term debt, net of current portion	294,170,103	293,789,892
Secured Notes [Member]
Line of Credit Facility [Line Items]
Total debt	$ 300,000,000	$ 300,000,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Feb. 02, 2021
Long-Term Debt [Line Items]
Gain (Loss) on Extinguishment of Debt		$ 0	$ (4,996,731)
Promissory Note [Member]
Long-Term Debt [Line Items]
Debt Instrument Redemption Amount	$ 5,000,000
Debt instrument redeemed Percentage	96.00%
New Promissory Note [Member]
Long-Term Debt [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 100,000
8.625% senior secured notes due on February 1, 2026
Long-Term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				8.625%
Debt instrument face value				$ 300,000,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Changes in Stockholders Equity (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Beginning balance	$ 263,082,298	$ 267,101,820
Stock-based compensation	227,250	520,801
Acquisition of noncontrolling interest	0	(4,490,130)
Purchase of treasury stock	(29,599)	(784,902)
Net loss	(3,738,945)	(10,684,641)
Elimination of noncontrolling interest		1,076,849
Ending balance	$ 259,541,004	$ 252,739,797

Net Revenue - Composition of Re

Net Revenue - Composition of Revenue (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 55,720,268	$ 48,212,040
Audio [Member]
Disaggregation of Revenue [Line Items]
Net revenue	47,365,145	41,729,602
Digital [Member]
Disaggregation of Revenue [Line Items]
Net revenue	7,808,250	5,763,728
Other [Member]
Disaggregation of Revenue [Line Items]
Net revenue	$ 546,873	$ 718,710

Net Revenue - Deferred Revenue

Net Revenue - Deferred Revenue (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 3,092,825		$ 3,085,370
Losses on receivables	$ 287,553	$ 1,095,313

Net Revenue - Trade Sale Revenu

Net Revenue - Trade Sale Revenue (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Trade sales receivable	$ 934,421		$ 881,885
Trade sales payable	636,476		$ 614,467
Trade sales revenue	$ 1,372,573	$ 929,597

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - 2007 Plan [Member] $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost for restricted stock granted | $	$ 1.6
Cost expected to be recognized over a weighted-average period	2 years 2 months 12 days
Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized | shares	7,500,000

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units and Restricted Stock Activity (Detail) - 2007 Plan [Member] - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Shares, Beginning Balance | shares	940,834
Granted, Shares | shares	26,316
Vested, Shares | shares	(43,334)
Forfeited, Shares | shares	(5,000)
Unvested Shares, Ending Balance | shares	918,816
Unvested, Weighted-Average Grant-Date Fair Value, Beginning Balance | $ / shares	$ 2.77
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	1.90
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	2.63
Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	2.85
Unvested, Weighted-Average Grant-Date Fair Value, Ending Balance | $ / shares	$ 2.75

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Federal statutory rate	21.00%
Effective tax rate	61.00%	20.00%

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Net Income Per Share (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to BBGI stockholders	$ (3,738,945)	$ (10,555,392)
Weighted-average shares outstanding:
Basic	29,370,789	29,302,799
Effect of dilutive restricted stock units and restricted stock	0	0
Diluted	29,370,789	29,302,799
Net loss attributable to BBGI stockholders per Class A and Class B common share – basic and diluted	$ (0.13)	$ (0.36)

Earnings Per Share - Additional

Earnings Per Share - Additional information (Detail) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share	178,625	32,166

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Inputs, Level 2 [Member]
Fair Value Of Financial Instruments [Line Items]
Long-term debt	$ 284.3	$ 295.9

Segment Information - Summary o

Segment Information - Summary of Reportable Segment Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 55,720,268	$ 48,212,040
Operating expenses	49,830,436	42,967,871
Corporate expenses	4,233,460	3,905,289
Depreciation and amortization	2,515,900	2,951,901
Gain on disposition	0	(191,988)
Other operating expenses	0	1,100,000
Operating income (loss)	(2,716,754)	(2,521,033)
Capital expenditures	1,386,750	1,029,268
Property and equipment, net	49,425,164		$ 49,843,166
FCC licenses	506,556,687		508,413,913
Goodwill	28,596,547		28,596,547
Other intangibles, net	22,035,202		22,697,207
Impairment loss	1,857,226	0
Audio [Member]
Segment Reporting Information [Line Items]
Net revenue	47,365,145	41,729,602
Operating expenses	40,683,812	34,735,469
Depreciation and amortization	1,621,827	2,004,377
Gain on disposition		(191,988)
Other operating expenses		500,000
Operating income (loss)	3,202,280	4,681,744
Capital expenditures	1,181,994	712,945
Property and equipment, net	45,272,758		45,696,008
FCC licenses	506,556,687		508,413,913
Goodwill	25,377,447		25,377,447
Other intangibles, net	1,940,820		1,974,093
Impairment loss	1,857,226
Digital [Member]
Segment Reporting Information [Line Items]
Net revenue	7,808,250	5,763,728
Operating expenses	8,401,763	7,257,915
Depreciation and amortization	4,464	0
Operating income (loss)	(597,977)	(1,494,187)
Capital expenditures	1,844
Property and equipment, net	71,927		74,547
Other [Member]
Segment Reporting Information [Line Items]
Net revenue	546,873	718,710
Operating expenses	744,861	974,487
Depreciation and amortization	695,348	811,903
Operating income (loss)	(893,336)	(1,067,680)
Capital expenditures	60,682	2,852
Property and equipment, net	81,543		21,644
Goodwill	3,219,100		3,219,100
Other intangibles, net	19,914,719		20,543,451
Corporate [Member]
Segment Reporting Information [Line Items]
Corporate expenses	4,233,460	3,905,289
Depreciation and amortization	194,261	135,621
Other operating expenses		600,000
Operating income (loss)	(4,427,721)	(4,640,910)
Capital expenditures	142,230	$ 313,471
Property and equipment, net	3,998,936		4,050,967
Other intangibles, net	$ 179,663		$ 179,663