Digital Audio Group Growth
The Digital Audio Group generated first-quarter revenue of $277 million, up 16% versus prior year. Adjusted EBITDA was $87 million, up 27.8% versus prior year, with margins increasing to 31.4% from 28.5%.
Podcast Revenue Surge
Podcast revenue grew 28% compared to the prior year, well above the guidance of high teens growth. Podcasting EBITDA margins remain accretive to the total company margins.
Modernization Program Savings
The modernization program remains on track to generate $150 million in net savings in 2025, with $27 million of savings realized in Q1.
Premiere Broadcast Networks Revenue Growth
Premiere Broadcast Networks revenue returned to growth in Q1, up 2.1% compared to the prior year, indicating strength in national advertising.