Thanks, good Collin, everyone. and morning,
in During analyst with and of and pacing estimates. the revenue EBITDA of third quarter, line $XX.X million, delivered we million $XXX.X commentary
of the rate X% services presidential as improving the around to Digital in spending businesses. of XX% flow. environment continue well again and in from election national to as benefited in continued concerns advertisers we operating additional and While acceleration quarter, political close the impressively trends, overall many spending.
That quarter cite XX% upcoming the control, total investing marketing areas on digital growth their with for of XX% we of half spend, to in our the which digital business year-over-year. the X% accounts areas efficiencies our key first that impediments capitalizing in Starting and growth, on including are to year. improvement our political in focused revenue, optimizing compares of remain as last driving performed achieved cost grow which delivering growing Digital the advertising, revenue once year-over-year, increasing same cash now national to strong said,
as key Our cylinders is DMS indicators. flying several performance business is on all in reflected
customer average customer by customer size order During per by count digital X% the grew increased XX%, XX%. and quarter, improved retention by
focus clients, define of have radio our now performance through continue, on XX%. share We of expanding Additionally, our wallet who selling legacy number combination that elements our the given we the in the from DMS or radio unique us to by purchased our only fully proposition expect also positioning. with successful increased clients, competitive
First, current and street the approach. on over an with direct that us force sales relationships with to are to our out-of-market market insights advertisers replicate feet difficult provides with access XX,XXX
custom are digital integrated including needs. and that our broadcast fully deliver we both to tailored products Second, services solutions, fit and customers'
this in-market benchmarks industry competitors business that clients across Fourth, XX by we in more local for XX% results using to key our out-execute business continue capabilities accelerate generate our and we Third, to insights solutions outperform invest to our than customized and categories. growth.
by further added product and up and out expanding attribution. us creative opportunities growing sales to to our satisfaction our XX% been performance, our increased in-house. improve we've staff that expect multiple our sales And internal of of organization and has overall past, to build to the in highlighted functions.
We've increase us over coverage, agency capabilities team, take able business, allowed campaign DMS are teams, which to scale we the agency now advantage in-sourcing We've digital solutions to case to our customer technology also we of in been business investing in our fulfill margins given improve across additional for we've internal As margins the will time. our allow
investments positioning, prospects we DMS about and continue competitive the these unique to With bullish our business. our be for
to during our digital components revenue. Turning other quarter. Streaming of slightly increased the
We continue expiration fixed comp the our encouraged to by by year. despite sales be streaming the last caused rate a difficult contract performance of
optimize taking the impressions. on back us our said streaming manage better I've our earlier inventory calls, monetization As allows to of and
The of modest the experienced Wire revenue our from reflecting decrease revenue the podcast. podcasting channel third a digital Daily declining major in revenue, quarter,
was by were that up existing podcasts revenue driven and that, the significantly growth added year-over-year. podcasts in quarter, in Excluding new
capitalize point continue which reaching in ranked Bongino was which #X. existing the the top Spotify Show, we've sixth ranked Triton the news among by one at a podcasts, significant for podcasts, all October stable Show, growing including podcast to podcasts and Dan particularly of Ryan growth Shawn all of where as category, our in X of on We the talk several on seen popularity
We will platform Johnson, and recent become Benny creator, whose a many of consumers. for also the from will also benefit podcaster, to including first content video our we award-winning streamer go-to stable, next-generation -- has news additions podcast
call, XX% as business. to positive approximately indicators broadcast make revenue. advertising Moving national total a our our broadcast said of which, on reminder, we up businesses, as the continue our to radio onset I in the And of see
in live Smaller utilizing found throughout with which who ramp demand decreased relationship political the overall, the growing larger in exclusive products local, point was We've our in with concerns a our the our was in for bright of up of our negative And who citing Political by have key and compelling of to Specifically, spending entertainment, thanks skittishness to revenue sides spending sports quarter the to out and categories during NFL these overall the as for boost experienced been and or they're in in meaningful to network lower has radio the from spending one one levels. change categories, prior that was to sentiment in That both robust, X% spending improvement categories, remains the professional continue on impacted summer an presidential search, clients clients has of and retail strength. for products also biggest is Despite advertising spend categories.
National national which year-over-year. home for by and with benefited and be year rate coverage midst network reentry spots, race been an back had area our which while, benefited spending success services growth Biden a the sports audio Harris the a job was spending personal in of local presidential now. hook which games. candidate, of insurance, the home part key indicating still quarter, while performance transition contributor advertisers was from financial also intense business, spot, products local in improvement. the automotive, completed. advertising several in sports in spot, trend markets reflected our Democratic are as experienced interest including network the from about reduced weak.
Economic a holding care biggest
advertising resulted comes from So presidential the our down political in in lower-than-expected ballot temporary in political of revenue quarter. a spending races, pause the majority
QX down million, quarter-to-date has revenue $XX.X political political but up races of from approximately spending million Georgia. X $X.X million in $X.X However, quarter through rebounded XXXX, Wednesday fourth QX subsequent runoffs XXXX, in from significantly with in in which booked from Senate benefited the and
pacing slightly. So is revenue taken currently as a down whole, total QX
to expenses. Moving
for flexibility as $XXX of to XXXX reductions such, our operators. leveraging our that disciplined And continue through Year-to-date, ongoing to to a cost fixed generated we be we growth -- renegotiating These invest We million market, of further products we've contracts million reduce managing generated of to in 'XX. reflect and of from the refinement more focused while economies on of reduction bringing and $X cost efficient to top structure, scale digital costs. of maintaining strategy. on are efforts opportunities approaches total we realized expense
in functions were our resulted consolidate allowing For we able a in-house, of to impacting potential. was party. our margin example, example, in previously that consolidate station able to In without our cost which business, meaningful were network revenue we we recently, going another vendors savings certain -- the products third to outsourced recapture group, in to station group, formerly us some to brought
advertising instructions across other AI-enabled Additionally, for facets like AI of generation, continue the and lead sales goes marketing to including environment, programming that without efficiencies in in no managing aggressively creation And are the realizing and we rock for we applications, ourselves production, aggressive can to business. all dynamics set many of are traffic in uncertain administrative.
Among pursuing we up content. sports and getting are the of believe the given value we'll businesses, to started e-mail play-by-play our of determined other that be using and the we unturned we saying business, It marketing, year. leave bring sales for next that we are just expenses development as AI operations,
on capital disciplined similarly are allocation. We
specifically we reminder, invested our have a in As instead M&A. pursuing digital of prioritized and in growth, organic businesses nonaccretive
$XXX which we generated allocation more debt growth Additionally, since and station XXXX, our capital reducing cash XX%, sales million $XXX by million than our top flow, of over reduce asset of in sales have investing to noncore of $XXX and and we million completed priorities. free debt businesses used remain
audiences to we reemphasize that has fast-growing of sports to of across products to genres, national to set ability of space expense Before by record reach programming A capital. with across the our realize door.
Premium strong believe it listen. Cumulus through and runway to and and filled economic the vast with push of assets a local maturities with platform created debt inherent profitable capabilities turning wherever hours giving and want value, audio the and can and sales many track assets, in markets news library the choose strong a the extending importance millions relevant, the access -- disciplined through Extensive and we a Frank, I flexibility of in they us and second to time digital quarter engaging entertaining over particularly company. the businesses. including with XX financial all stewardship of content choppiness is management in team that exclusive XXXX, the whenever and walk talk
for on tight maximizing As these value Courtesy recent we see paths the of of numerous we assets of refinancing. afforded against behalf our by execute time of a the continue shareholders. our to priorities, set
challenged the an remains economic I'll to paths over call explore to that, despite backdrop, time Frank? have We which for now. Frank. With these the turn
