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Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended June 30, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	53,417,896			$	10,719,410			$	673,144			$	—			$	64,810,450
Operating expenses			43,187,604				9,171,535				1,267,453				—				53,626,592
Corporate expenses			—				—				—				4,567,470				4,567,470
Depreciation and amortization			1,564,338				4,613				700,953				181,198				2,451,102
Impairment losses			8,619,097				—				—				—				8,619,097
Operating income (loss)		$	46,857			$	1,543,262			$	(1,295,262	)		$	(4,748,668	)		$	(4,453,811	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	5,039,229			$	8,982			$	(1,598	)		$	64,514			$	5,111,127

Reportable segment information for the three months ended June 30, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	51,215,234			$	7,983,343			$	376,128			$	—			$	59,574,705
Operating expenses			39,715,005				7,910,418				868,997				—				48,494,420
Corporate expenses			—				—				—				3,957,854				3,957,854
Depreciation and amortization			1,911,236				4,142				796,019				139,526				2,850,923
Other operating income, net			—				—				—				(1,500,000	)			(1,500,000	)
Operating income (loss)		$	9,588,993			$	68,783			$	(1,288,888	)		$	(2,597,380	)		$	5,771,508

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,276,776			$	87,432			$	—			$	160,311			$	1,524,519

Reportable segment information for the six months ended June 30, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	100,783,041			$	18,527,660			$	1,220,017			$	—			$	120,530,718
Operating expenses			84,050,529				17,573,298				2,012,314				—				103,636,141
Corporate expenses			—				—				—				8,800,930				8,800,930
Depreciation and amortization			3,186,165				9,077				1,396,301				375,459				4,967,002
Impairment losses			10,476,323				—				—				—				10,476,323
Operating income (loss)		$	3,070,024			$	945,285			$	(2,188,598	)		$	(9,176,389	)		$	(7,349,678	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	6,221,223			$	10,826			$	59,084			$	206,744			$	6,497,877

Reportable segment information for the six months ended June 30, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	92,944,836			$	13,747,071			$	1,094,838			$	—			$	107,786,745
Operating expenses			74,450,474				15,168,333				1,843,484				—				91,462,291
Corporate expenses			—				—				—				7,863,143				7,863,143
Depreciation and amortization			3,915,613				4,142				1,607,922				275,147				5,802,824
Gain on disposition			(191,988	)			—				—				—				(191,988	)
Other operating (income) expense, net			500,000				—				—				(900,000	)			(400,000	)
Operating income (loss)		$	14,270,737			$	(1,425,404	)		$	(2,356,568	)		$	(7,238,290	)		$	3,250,475

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,989,721			$	87,432			$	2,852			$	473,782			$	2,553,787

Reportable segment information as of June 30, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	48,624,289			$	76,296			$	75,224			$	3,882,252			$	52,658,061
FCC licenses			503,003,909				—				—				—				503,003,909
Goodwill			19,520,896				—				3,219,100				—				22,739,996
Other intangibles, net			1,907,547				2,000,000				19,285,987				179,663				23,373,197

Reportable segment information as of December 31, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	45,696,008			$	74,547			$	21,644			$	4,050,967			$	49,843,166
FCC licenses			508,413,913				—				—				—				508,413,913
Goodwill			25,377,447				—				3,219,100				—				28,596,547
Other intangibles, net			1,974,093				—				20,543,451				179,663				22,697,207

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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