Home Login RADIO ONLINE RSS Facebook
Advertisement

Audacy Q2 Net Revenues Down 5.6% to $299.2 million


Audacy
Audacy

Audacy reported third quarter net revenues were down 5.6% to $299.2 million from $317 million in 2022. Local spot revenues declined 3%, national spot revenues fell 15% and network advertising revenues declined 5%. Digital revenues were up 3% $64.8 million. Operating loss was $281.7 million from $151.9 million, while Adjusted EBITDA fell to $23 million from $36.3 million. The company posted a net loss of $234.3 million ($49.64 per diluted share) as compared to a net loss of $140.9 million ($140.9) in the year-ago period.

Chairman, President and CEO David J. Field stated, "Audacy's third quarter net revenues declined 5.6%, in-line with our quarterly guidance as ad market conditions have remained challenging, particularly on national business. Cash operating expenses were down 2%.

"We gained revenue share in the quarter, most significantly in radio in which we have achieved accelerating share growth since the start of the year. We also delivered solid gains in radio ratings share and digital audience metrics while making important progress on our tech roadmap and meaningful expense savings to improve our current and future business model.

"Fourth quarter is currently pacing down 9% on an as reported basis and down 4% on a same-station, ex-political basis. We expect Q4 total revenues to decline by high single digits and costs to decline by high single digits."

Advertisement

Latest Radio Stories

WLS-AM Partners with FOX News Audio to Expand Programming
WLS-AM in Chicago
WLS-AM in Chicago
News/Talk 890 WLS-AM has announced a new partnership with FOX News Audio to bring a range of national news and talk content to Chicago radio audiences. The collaboration launched today and includes the addition of The Guy Benson Show, airing live weekdays from 2-5pm, along with hourly More

WZGV Charlotte Rebrands as InsideTheGame.bet
WZGV-AM in Charlotte
WZGV-AM in Charlotte
WZGV-AM, formerly known as "ESPN Charlotte 730 The Game," has officially rebranded as "InsideTheGame.bet," becoming the first station in the Charlotte market dedicated to sports betting content. The station's new identity launches in partnership with VSiN, The Sports Betting More

Tino Cochino Morning Show to Debut on WWPW Atlanta
Tino Cochino Morning Show
Tino Cochino Morning Show
iHeartMedia's WWPW (Power 105.3) is shaking up the morning airwaves with the launch of the Tino Cochino Morning Show, set to debut Monday, July 7. Airing weekdays from 6 a.m. to 10 a.m. ET, the program brings a new energy and voice to Atlanta mornings. Hosted by Tino Cochino, alongside his team -- Serina, More
Advertisement

Podcast Ad Spending Hits 11-Year High Among Brands
Cumulus Media and Westwood One
Cumulus Media and Westwood One
Marketer and agency interest in podcast advertising has surged to its highest level in more than a decade, according to the latest annual study from Advertiser Perceptions commissioned by Cumulus Media | Westwood One's Audio Active Group. Conducted in June 2025 among 302 marketers and media buyers, the More

Louisville Icon WAKY-AM & FM Sold to WAKAYANA LLC
WAKY-FM and AM in Louisville
WAKY-FM and AM in Louisville
WAKY-FM and AM in Louisville, along with their associated translators, are being sold by W&B Broadcasting Inc. to WAKAYANA LLC in a deal announced today and pending FCC approval. The transaction marks the end of an era for W&B Broadcasting, headed by Bill Walters, and the More

Beasley Media Sells 98.7 The Shark in Tampa to EMF
Educational Media Foundation
Educational Media Foundation
Beasley Media Group has agreed to sell WPBB-FM (98.7 The Shark) to Educational Media Foundation (EMF), marking EMF's first entry into the Tampa Bay radio market. The sale will bring an end to Beasley's ownership of the station, which began in 2014 when it acquired More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement