Saga Communications, Inc. (NASDAQ:SGA) Q4 2023 Earnings Call Transcript

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Christopher Forgy: Well, again, as we’ve stated in previous earnings calls, because we’re very proud of the team that we have – that is executing our national initiatives. We’ve taken more of a local approach to national sales, much like the way, Michael, that we’ve taken our Saga story to the investment community with your help, face-to-face, belly-to-belly with the help of our Director of Research and storytelling Mario Christino, the Katz team and our NSM, Tom Howe and Bruce Warner. We’re making more compelling presentations, telling better stories. And that has had a huge impact on our success in that vertical. We’re also now a part of the Katz network and have forecasted an additional $1.5 million to $2 million in revenue in 2024.

Samuel Bush: Very good. I think I had some good color to it. And I did. I said that was our last question. It really wasn’t. We had one more similar to that one. But it’s basically, what’s the outlook for political for the remainder of the year?

Christopher Forgy: Sam, you haven’t got to answer these questions. I’m going to let you do this one.

Samuel Bush: Okay. Political is always variable. While we have a projection of where we think we’re going to be at the end of the year, we look back at where we were two years ago, where we were four years ago, where we were six years ago, where we were eight years ago. But we’ve also had surprises, both good and bad in the past because it comes down to what’s battleground state, depending on the election. I will also tell you that most of our election money, political money we get is not presidential oriented, it’s going to be whether there’s a big senatorial or a big congressional race, a governor’s race, sometimes it comes down to a school board race in a small community or in a medium-sized community. It can make a big difference as to what’s going on there.

So we do have a positive outlook for political this year. We so far have not seen as much as we had thought we would see. But I’ve also heard the political starting later this year, and there’s still a big – we believe that there’ll be a lot of it out there for radio to pick up on. And it’s just hard for us to project any significant – with any significant confidence numbers at this point because of where they are. We are talking to an outside consultant. We have a call, we’re setting up with here in the next week or two. Who does have his handle on what’s out there in basically every market and can help point us in the right direction if our local managers are not already in tune with what’s going on in those markets. So I think you’ll see a lot more, but I think it’s going to be third quarter and fourth quarter oriented.

Christopher Forgy: Get your popcorn because it will be entertaining, that’s for certain.

Samuel Bush: To say the least. Well, good. I think we’re done. I think, Matt, we’re ready to turn it back over to you and let you wrap it up.

Operator: Certainly. Thank you, everyone. This concludes today’s event. You may disconnect at this time, and have a wonderful day. Thank you for your participation.

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