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Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended September 30, 2024 is as follows:

		Audio				Digital				Corporate				Total
Net revenue		$	46,889,920			$	11,300,196			$	-			$	58,190,116
Operating expenses			39,516,786				10,429,347				-				49,946,133
Corporate expenses			-				-				4,296,615				4,296,615
Depreciation and amortization			1,566,575				36,801				184,750				1,788,126
Goodwill impairment losses			-				922,000				-				922,000
Operating income (loss)		$	5,806,559			$	(87,952	)		$	(4,481,365	)		$	1,237,242

		Audio				Digital				Corporate				Total
Capital expenditures		$	417,497			$	(8,925	)		$	233,617			$	642,189

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

		Audio				Digital				Other				Corporate				Total
Net revenue		$	48,332,715			$	11,177,881			$	609,161			$	-			$	60,119,757
Operating expenses			38,932,340				10,110,593				1,074,111				-				50,117,044
Corporate expenses			-				-				-				4,493,277				4,493,277
Depreciation and amortization			1,741,376				47,397				199,979				212,912				2,201,664
FCC licenses impairment losses			78,204,065				-				-				-				78,204,065
Goodwill impairment losses			10,582,360				-				-				-				10,582,360
Operating income (loss)		$	(81,127,426	)		$	1,019,891			$	(664,929	)		$	(4,706,189	)		$	(85,478,653	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,026,120			$	1,594			$	-			$	16,817			$	1,044,531

Reportable segment information for the nine months ended September 30, 2024 is as follows:

		Audio				Digital				Corporate				Total
Net revenue		$	137,748,127			$	35,257,992			$	-			$	173,006,119
Operating expenses			117,418,596				31,116,328				-				148,534,924
Corporate expenses			-				-				12,584,218				12,584,218
Depreciation and amortization			4,757,501				141,680				556,441				5,455,622
Goodwill impairment losses			-				922,000				-				922,000
Operating income (loss)		$	15,572,030			$	3,077,984			$	(13,140,659	)		$	5,509,355

		Audio				Digital				Corporate				Total
Capital expenditures		$	2,080,587			$	-			$	546,453			$	2,627,040

Reportable segment information for the nine months ended September 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	146,198,774			$	33,455,935			$	1,705,891			$	-			$	181,360,600
Operating expenses			118,200,967				30,804,774				3,092,520				-				152,098,261
Corporate expenses			-				-				-				13,381,403				13,381,403
Depreciation and amortization			5,253,581				141,364				595,746				636,283				6,626,974
FCC licenses impairment losses			88,245,065				-				-				-				88,245,065
Goodwill impairment losses			10,582,360				-				-				-				10,582,360
Operating income (loss)		$	(76,083,199	)		$	2,509,797			$	(1,982,375	)		$	(14,017,686	)		$	(89,573,463	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	2,975,897			$	13,184			$	25,534			$	46,101			$	3,060,716

Reportable segment information as of September 30, 2024 is as follows:

		Audio				Digital				Corporate				Total
Property and equipment, net		$	45,725,915			$	71,162			$	2,971,064			$	48,768,141
FCC licenses			393,006,900				-				-				393,006,900
Other intangibles, net			1,608,090				351,160				179,663				2,138,913

Reportable segment information as of December 31, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	48,324,618			$	95,003			$	74,081			$	2,981,052			$	51,474,754
FCC licenses			393,006,900				-				-				-				393,006,900
Goodwill			-				922,000				-				-				922,000
Other intangibles, net			1,707,909				834,836				-				179,663				2,722,408

X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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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- References

No definition available.

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