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Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended June 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	50,448,093			$	12,301,269			$	712,361			$	-			$	63,461,723
Operating expenses			39,369,033				10,786,584				1,171,945				-				51,327,562
Corporate expenses			-				-				-				4,405,031				4,405,031
Depreciation and amortization			1,737,441				47,201				199,290				212,053				2,195,985
Impairment losses			10,041,000				-				-				-				10,041,000
Operating income (loss)		$	(699,381	)		$	1,467,484			$	(658,874	)		$	(4,617,084	)		$	(4,507,855	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	811,663			$	8,777			$	5,412			$	21,053			$	846,905

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 six months ended June 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	97,866,059			$	22,278,054			$	1,096,730			$	-			$	121,240,843
Operating expenses			79,268,627				20,694,181				2,018,409				-				101,981,217
Corporate expenses			-				-				-				8,888,126				8,888,126
Depreciation and amortization			3,512,205				93,967				395,767				423,371				4,425,310
Impairment losses			10,041,000				-				-				-				10,041,000
Operating income (loss)		$	5,044,227			$	1,489,906			$	(1,317,446	)		$	(9,311,497	)		$	(4,094,810	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,949,777			$	11,590			$	25,534			$	29,284			$	2,016,185

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 as of June 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	49,958,321			$	109,274			$	84,109			$	3,290,829			$	53,442,533
FCC licenses			477,208,798				-				-				-				477,208,798
Goodwill			10,582,360				922,000				1,761,100				-				13,265,460
Other intangibles, net			1,774,455				913,794				4,867,985				179,663				7,735,897

Reportable segment information as of December 31, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	51,941,687			$	112,693			$	67,751			$	3,684,916			$	55,807,047
FCC licenses			487,249,798				-				-				-				487,249,798
Goodwill			10,582,360				922,000				1,761,100				-				13,265,460
Other intangibles, net			1,841,001				992,752				5,206,523				179,663				8,219,939

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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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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