Thanks, Collin, and morning, everyone. good
both and initiatives. key country's company's position and value our we by continuing success deliver the shareholders reflect strategies to and how clearly results long-term the progressing strengthen economic capitalizing on quarter are second Our rebound, for to
expanded the across our curation our distribution growing content First through of listenership platforms. multiple and
national businesses wide through that digital and those growing revenue highly of them and integrated of and connect partnerships. including company by providing with platform solutions traditional efficient local advertising with XXXXs Second, XXs consumers,
debt. reducing our performance enhancing by portfolio. relentlessly operating And asset optimizing finally, Third, and our by
year-over-year, quarter, to record million marketing up and not execution achieving top of and profile leverage several radio podcasting, was achieving high forces. improvement we We continued revenue, local the with margin encouraging and for by streaming line reflection digital a terrific our drive realized in XX% through also core all-time versus national XX% delivered quarter meaningful our Specifically, only sales revenues local with of services, now but company the reductions XXXX. this We wide than fixed digital $XX and continue which our platform more cost advertising, growth improved of partnerships. operating in
the actions that of sales. Additionally, key price extensions the $XXX our debt we listeners of of paydown, stable now our This by Nashville the that that flow and we anticipate are near approximately free increase consistent performance non-core and expected on business generating was of land, flexibility cost to of we've our our strategy reductions than quarter baseline, have level, shareholder communicated and business opportunities XXXX million We cash customer sales million adjacencies, adjacencies catalyze and $XX have highest with the asset proposition synergistic our long-term. positioning business our to around will total value designed see what notwithstanding Those a last XXXX versus support finished $XXX with we financial the compelling, digital sold over and the And into radio core we non-core $XX million ability in $XX required expansion debt we million. million to an mandatory and the for the two shareholder quarter, the year's digital out increased ourselves growth scalable paydown which and We quarter. to strengthen fixed $XX better strategic capitalize cash. is our paid significant advertisers. give the taken our relationships deleveraging that million with last model our top and returns. in accelerating At as bases, can in natural
already further We each and are million engaging our aggressively listener expanding base, than more encompasses which month. XXX people
We digital this over content the digitally incremental new distributed through both creation partnerships air. content content existing distribution are of doing of and and and the
a leveraging clients sales XXXXs including marketing On radio, XXs increasing solutions of podcasting, we're solutions. customizable with product advertising digital campaign we the to presence side, we close the force suite offer with attract our primarily of market our base additions. and comprising ability marketing, Today, improving entire and and by goes radio our terrestrial and businesses continually audio, from relationships advertiser and have comprehensive outside those through expanding to digital and digital
For assets recently of collection build great announced that are instance, are partnerships utilizing to of how and we we two our unique advertising. representations audiences
markets, coveted XX of On talents category, ranking Dan First Apple partnership radio network. hitting top in we top XX broadcast wildly called of from leading Dan noon slot The and one, the has country. podcasts extended conservative been to our one the the for in XXXX. in also has in show May show X one our of to Dan day at been times the show the original radio including in over Bongino voice XX, in and time X:XX most Bongino launch XXXX, number XXX of the successful all podcast anchor an among Bongino the p.m. news
in podcast original surpassed first And months done has we're into talent company it twice. Just radio its expanded syndicated radio note for has most XXX we've And that ever successfully. to syndicated the its two the station nationally the only later, new media space. the that show launch successful making now mark, important show syndicated the it a and
To perfect opportunities listeners to the also Shapiro, to both for overarching our the we've of to this Ben Dan it's generating year content potential now expand and our with extensions, reach more relationship with customers. First digital create businesses how back those bring been over while partnership and Bongino. strategy, with example to able new through
from strategy This ecosystem WynnBET, Second, an premier sports reach to we how the that beachhead the WynnBET example in equity, announce consideration burgeoning WynnBET component Cumulus of fuel has Cumulus an betting strong marketing excited arena betting of to content The sports operator expansive in broadcast, partnership significant embrace create. largest users to excellent will the room WynnBET helped is of partnership of for become podcast, our digital, app, were to as multi-year form new we using to allows for revenue one Resorts. multi-platform element last global the of too growth. participate sports app a implementing with Wynn we entire and casino are This week, the minority just establishing activations to to branded continued while Overnight more success the Media us our deal social coming its on-site legalize with an betting. Cumulus. for also allowing growth states and the upside advertisers shared in with
on we XX for become goal. a betting relationship mentioned a that us is step could calls, we overtime, sports category top believe big towards As prior the with and WynnBET
will our of creative with to we types of on, asset goes augment streams time multi programs. revenue these existing As continue more
we we Because have do we ability our strategy. a record to do we’re great confidence track something, team it with well. wide do management have execution. say a this in further going of long it and we to We and When company execute accelerate strong
proud leadership. And in has they’re us. huge to is cash permanent the strong, in our our our conducted on of the culture June, balance that company sheet over focus of Cumulus The benefit very net of to to XX% from XX% with flow profile in company’s indicate radio reduction. According among competitive biannual company’s strong participated. Our working has a and we confidence say industry. employees well our at and will the become advantage free employees half tremendously lowest in their survey leverage which cost for our strong our management and peers capital continue work
recovery So short-term see turning economic coming we over months. our the to continuing now the outlook,
the drag impacting categories. several IX, such affect and are in with chip as other shortage labor from And that negatively we’re and category up verse in mid-teens Although some shortages particular the in pacing auto in be compared will Similar to however, that move teens. versus mid-teens continue through XXXX high would the in the last anticipate the we pacing we quarters as in that and two improve down to to quarter. XXXX,
growth the So our looking IX believe the strategies recovery beyond in significant the growth. prospects, side for position cost aggressive XXXX, on along with and us taken the we into and we EBITDA have put actions
the and follows: view, as discrete attractive value year industry to $XXX these like margin backdrop, We competitive business, the currently as operating first, given views we recovery this. million. that In traditional definable we the high investment. path on, to to not vectors the from goes see Cumulus the to refine range will of make strong massive in has of enhance leverage, radio absorbed and benefit in highly creation EBITDA I’d but with fully all in expect scale. that catalysts positioning, our With our the near-term a the $XXX our XXXX market see you million leave We a
they Second, our and well lot expected digital a to upward XXXX, in collectively will a over million trajectory with deliver from channels are of $XXX with there. continually revenue achieving continued nice of room strong run, growth
continue pursue to actively ways to reduce Third, we further will permanent costs.
more XX% as the than our that, transactions, free $XX the including anticipate portfolio the execute And companies over last opportunistic optimization our given the allocation accretive rapidly Frank? XXXX, potential leverage million earlier, from fixed to will from to our And guidance $XX be we positioned our increases, are continued to Frank. mentioned us company’s digital increase for XXXX strategies. allow now and or in well return delever, flexibility below shareholders. generation capital it of flow to will with in lastly, we million capital decisions, liquidity an for Fourth, I baseline. can of providing that cash – As that the acquisitions reduction radio turn either I’ll profile, space, of costs greater to accelerate even more EBITDA cost fixed
