Digital Audio Group Revenue Growth
The Digital Audio Group generated second quarter revenue of $324 million, up 13.4% versus prior year, slightly above the previously provided guidance of up low double digits.
Podcast Revenue Surge
Podcast revenue grew 28.5% compared to prior year, above guidance of up low 20s, indicating strong growth momentum in podcasting.
Top Advertisers' Revenue Increase
The top 50 advertisers for the total company were up 9% year-over-year, and the 4 largest advertising agency groups were up 14% year-over-year.
Adjusted EBITDA Achievement
Adjusted EBITDA was $156 million, at the upper end of the guidance range of $140 million to $160 million, and 4% above prior year.
Cost Management Success
The company remains on track to generate $150 million net savings in 2025, with Q2 results including $40 million of net savings.