Digital Audio Group Revenue Growth
The Digital Audio Group generated third quarter revenue of $342 million, up 13.5% versus prior year, above guidance of high single digits.
Podcast Revenue Increase
Podcast revenue grew 22.5% compared to the prior year, with 50% of podcasting revenue generated by the local sales force.
New Partnership with TikTok
A partnership with TikTok was announced, including a slate of podcasts from TikTok creators and a dedicated broadcast radio station.
Cost Reduction Initiatives
The company is on track to generate $150 million net savings in 2025 and announced additional $50 million savings beginning in 2026.