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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Composition of Revenue | Revenue is comprised of the following:
|  | Year ended December 31, |
|  | 2017 |  |  | 2018 |
Commercial advertising |  | $ | 204,995,073 |  |  | $ | 222,763,906 |
Digital advertising |  |  | 13,339,380 |  |  |  | 15,485,353 |
Other |  |  | 13,845,010 |  |  |  | 19,245,340 |
|  | $ | 232,179,463 |  |  | $ | 257,494,599 |
Deferred Revenue |
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2018 |
Deferred revenue |  | $ | 1,893,508 |  |  | $ | 1,868,223 |
|  | Year ended December 31, |
|  | 2017 |  |  | 2018 |
Losses on receivables |  | $ | 1,385,820 |  |  | $ | 2,455,628 |
Trade Sale Revenue | Commercial advertising includes revenue from the sale or trade of aired commercial spots to advertisers directly or through national, regional or local advertising agencies. Each commercial spot is considered a performance obligation. Revenue is recognized when the commercial spots have aired. Trade sales are recorded at the estimated fair value of the goods or services received. If commercial spots are aired before the goods or services are received then a trade sales receivable is recorded. If goods or services are received before the commercial spots are aired then a trade sales payable is recorded.
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2018 |
Trade sales receivable |  | $ | 1,550,172 |  |  | $ | 1,606,283 |
Trade sales payable |  |  | 1,276,170 |  |  |  | 1,250,454 |
|  | Year ended December 31, |
|  | 2017 |  |  | 2018 |
Trade sales revenue |  | $ | 9,565,793 |  |  | $ | 9,108,757 |

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