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Audacy reported an 8% increase in fourth-quarter net revenues, totaling $344.7 million, with a 13% rise excluding political advertising. Core spot revenues were up 10% at $218.4 million, while digital revenues saw a 16% increase, reaching $68.1 million. Operating income turned positive at $48.1 million, contrasting with a loss of $204.8 million the previous year. The company achieved a significant full-year adjusted EBITDA increase of 48%. Key acquisitions, including Podcorn and AmperWave, position Audacy for accelerated growth as radio ad spending recovers.
Audacy, Inc. (NYSE: AUD) will report its Q4 2021 financial results on February 23, 2022, before market opening. A conference call is scheduled for 10:00 a.m. ET to discuss these results and the company's strategic initiatives. Participants can join by dialing specific numbers or through a live webcast. A playback will be available after the call. Audacy ranks as a major player in multi-platform audio content, reaching 200 million consumers each month, providing local music, news, and sports.
Podchaser has partnered with Audacy to enhance its podcasting capabilities. This collaboration allows Audacy to leverage Podchaser’s advanced metadata and podcast technology, aiming to improve insights into podcast performance. Ken Lagana, EVP of Digital Sales at Audacy, highlighted that this partnership will support data-driven decisions for clients in podcast advertising. Podchaser’s CEO, Bradley Davis, expressed excitement over the partnership, which aligns with their mission to empower podcasters and enrich the podcast ecosystem.
Audacy has published its 2021 Social Impact Report, showcasing achievements from its Audacy Serves initiative. The report emphasizes commitment to diversity, equity, inclusion, mental health, civic education, the environment, children's health, and support for veterans. Key highlights include eight new fellows from underrepresented communities, over
Audacy has appointed Sarah Foss as its first Chief Technology Officer. Effective immediately, Foss will lead technological initiatives including software development and analytics, reporting to Rich Schmaeling, CFO. With over 25 years in media technology, she previously served as Chief Information Officer at Audacy since 2020. Foss aims to leverage technology for transformative growth at Audacy, which serves over 170 million consumers monthly across various audio platforms.
Audacy has announced a partnership with Hard Rock International to enhance live entertainment experiences. This collaboration will include a new performance venue in New York City, music festivals, and events at Hard Rock Cafe locations nationwide. The partnership kicked off with the Audacy Beach Festival in Fort Lauderdale. Upcoming events include Leading Ladies Live, celebrating female country artists, and existing festivals like Tortuga Music Festival. This venture signifies Audacy's commitment to live events and fan engagement.
Audacy hosted its inaugural Audacy Beach Festival in Fort Lauderdale, FL on December 4-5. The event featured performances by major artists including Twenty One Pilots, Lil Nas X, and Weezer. This festival continues the legacy of the popular Riptide event, promoting sustainability through partnerships with non-profits such as REVERB. A portion of ticket sales supported environmental initiatives. Audacy aims to enhance community health and social impact via its Audacy Serves platform, focusing on mental health, diversity, and more.
Audacy has appointed Brian Benedik as its new Chief Revenue Officer, effective December 1. Benedik, previously with Niantic and Spotify, will drive revenue generation across various levels and develop integrated sales strategies. Chief Operating Officer Susan Larkin emphasized his extensive experience and strategic vision as key to enhancing revenue efforts. Benedik has over 25 years in the audio space, playing significant roles at major companies. Audacy aims to leverage Benedik's expertise to optimize its re-imagination strategy in the booming audio industry.
Audacy, Inc. (NYSE: AUD) reported a 23% year-over-year increase in net revenues for Q3 2021, totaling $329.4 million, and a 58% rise in adjusted EBITDA, reaching $49.3 million. Despite ongoing pandemic impacts on advertising categories, the company noted a recovery with revenues up 8% compared to Q2. The acquisition of WideOrbit's digital audio business for $40 million enhances their streaming capabilities. Operating income improved to $29.2 million from a loss the previous year, and liquidity increased to $264.1 million.
Audacy, Inc. (NYSE: AUD) will announce its 2021 Q3 financial results on
Audacy engages over 170 million consumers monthly, being a leader in audio content and entertainment.