Glacier Media reports 2024 revenue decline in Vancouver

Glacier Media Inc. has released its financial results for the year ending December 31, 2024. The company, based in Vancouver, reported total revenue of $141.9 million. This is a decrease of $13 million, or 8.4%, compared to the previous year. Despite the drop in revenue, Glacier Media showed improvement in earnings before interest, taxes, depreciation, and amortization (EBITDA). The company achieved EBITDA of $9.7 million, a turnaround from an EBITDA loss of $4.2 million in 2023. The improvement is attributed to restructuring efforts and better performance in core business areas. Glacier Media has been focusing on its core business information and consumer digital services. Over the past two years, it has sold or closed underperforming print media operations. The company believes this strategy will enhance long-term growth and shareholder value. The share of revenue from print media has decreased significantly, falling from 23.4% in 2023 to 14.8% in 2024. However, some remaining print operations continue to be profitable. The company plans to monitor these closely while addressing any underperforming legacy businesses. As of December 31, 2024, Glacier Media had a cash balance of $6.4 million and $6.8 million in non-recourse mortgages related to farm shows in Saskatchewan and Ontario. The company aims to maintain its focus on its growth segments while navigating various market challenges.