As Audacy awaits FCC approval to complete its restructuring from pre-packaged Chapter 11 bankruptcy, it has shared encouraging news about its 2024 revenue.
According to the company, January revenue grew 1%, with radio revenue rising at the same rate and digital revenue ascending 7% in the year’s first month.
Overall, the first quarter revenue is up 1%.
“Audacy is off to a strong start in 2024, driving accelerated financial and operating performance, including solid early growth in revenues, key digital metrics, and audience and revenue shares,” said Chairman, President, and CEO David Field.
“We look forward to a bright future, capitalizing on our best-in-class balance sheet and our scaled leadership position in the dynamic audio market, distinguished by our exclusive premium content and top positions across the country’s largest markets.”
While Audacy has yet to release its fourth quarter and year-end earnings for 2023 due to the bankruptcy proceedings, it reported that revenue for the company was “in line with expectations” during the calendar year.
