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Financial report summary
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Real EstateManagement Discussion
- Media revenue increased by $18.0 million, or 70%, from December 31, 2021 to December 31, 2022 primarily due to the expansion of our media-enabled station network and new media campaigns with national brands, including new and existing advertisers. Media revenue is recorded in service revenue.
- Network Development revenue increased by $4.0 million, or 77%, from December 31, 2021 to December 31, 2022, primarily due to the construction performed on active projects in connection with our new infrastructure development service contracts. Network development revenue is recorded in part in service revenue and in part in product revenue. (see Note 2 - Summary of Significant Accounting Policies).