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Revenues (Tables)
9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Revenue by Major Source, Sales Channel and by Geographical Region Based on Location of Sales Office

The following table presents our revenues disaggregated by major source (in thousands):

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Digital advertising

 

$

45,871

 

 

$

34,491

 

 

$

125,161

 

 

$

89,848

 

Broadcast advertising

 

 

39,998

 

 

 

30,791

 

 

 

97,692

 

 

 

91,401

 

Spectrum usage rights

 

 

1,707

 

 

 

2,085

 

 

 

5,092

 

 

 

6,310

 

Retransmission consent

 

 

8,031

 

 

 

8,925

 

 

 

26,011

 

 

 

27,872

 

Other

 

 

1,549

 

 

 

1,128

 

 

 

4,030

 

 

 

3,356

 

Total revenue

 

$

97,156

 

 

$

77,420

 

 

$

257,986

 

 

$

218,787

 

The following table further disaggregates the Company’s broadcast advertising revenue by sales channel (in thousands):

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Local direct

 

$

5,042

 

 

$

5,485

 

 

$

15,186

 

 

$

16,273

 

Local agency

 

 

13,387

 

 

 

13,946

 

 

 

39,414

 

 

 

40,505

 

National agency

 

 

21,569

 

 

 

11,360

 

 

 

43,092

 

 

 

34,623

 

Total revenue

 

$

39,998

 

 

$

30,791

 

 

$

97,692

 

 

$

91,401

 

The following table further disaggregates the Company’s revenue by geographical region, based on the location of the sales office (in thousands):

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

United States

 

$

73,939

 

 

$

57,497

 

 

$

192,207

 

 

$

156,412

 

Rest of the World

 

 

23,217

 

 

 

19,923

 

 

 

65,779

 

 

 

62,375

 

Total revenue

 

$

97,156

 

 

$

77,420

 

 

$

257,986

 

 

$

218,787

 

 

Summary of Deferred Revenue

(in thousands)

December 31, 2023

 

Increase

 

Decrease

 

 

September 30, 2024

 

Deferred revenue

$

1,977

 

3,820

 

(1,977)

 

 

$

3,820