Consolidated Revenue Growth
Q1 consolidated revenue of $884 million, up 9.6% year-over-year (9.3% ex-political), in line with guidance (high single digits).
Digital Audio Group Momentum
Digital Audio Group revenue of $327 million, up 18% YoY and slightly ahead of guidance; Q1 DAG adjusted EBITDA $87 million (flat YoY) and Q1 DAG margins 26.5% with full-year margins expected in the mid-30s.
Strong Podcast Performance
Podcast revenue $147 million, up 26.9% YoY (above guidance of low-20s); company cited #1 podcast publisher and sales network rankings (Podtrac, Triton); ~50% of podcast revenue sourced from local sales force.
Programmatic and Digital Growth Targets
Company reaffirmed full-year programmatic revenue target of ~$200 million in 2026 (approximately +50% vs $135 million in 2025) and expects continued programmatic expansion driven by partnerships with Amazon DSP, Yahoo, Google DV360 and broadcast inventory integration.
Cost Savings and Tax Benefit
Announced additional $50 million of annualized cost savings to begin in H2 2026 (in addition to previously announced $100 million savings) and expects cash taxes effectively eliminated for 2026 and next few years under current tax rules, preserving an estimated $150–$200 million of cash from 2026–2028.
Audio & Media Services Outperformance
Audio and Media Services Group revenue $67 million, up 12.2% YoY (13% ex-political), and adjusted EBITDA $24 million, up 54.7% YoY.
Reaffirmed Full-Year Financial Targets
Company reaffirmed full-year adjusted EBITDA guidance of $800 million and free cash flow guidance of $200 million; Q2 adjusted EBITDA guide $140–$160 million with consolidated revenue expected up low single digits.
Strategic Partnerships and Content Leverage
Highlighted strategic wins and cross-promotion value (e.g., Netflix and TikTok partnerships, video podcast opportunities) and use of broadcast radio to drive podcast and platform engagement.