MediaCo Holding Inc. (Nasdaq: MDIA) reported a significant increase in year-to-date net revenue, driven by new Audio and Video segment assets from the Estrella Acquisition.
Digital revenue surged to 49.2% of total advertising sales, showcasing a strong presence in the industry.
Adjusted EBITDA margin improved to 5% from a negative margin in the prior-year period, reflecting operational improvement.
Revenue Growth
Year-to-date Net Revenue was $94.7 million, up $31.9 million, or 51%, from the prior year.
Digital Revenue Surge
Digital revenue now accounts for 49.2% of total advertising sales, a substantial increase from previous periods.
Adjusted EBITDA Improvement
Adjusted EBITDA was $5.0 million, up $9.6 million from the prior year, with an improved margin of 5%.
- MediaCo is in growth mode with expansions in multiple states and the addition of FAST channels, indicating a focus on strategic growth initiatives.
- The company's commitment to increasing advertising share and securing content partnerships positions it well for future revenue growth and audience expansion.
MediaCo's third-quarter results showcase strong revenue growth and strategic initiatives for future expansion. With a focus on digital revenue and operational efficiency, the company is well-positioned for continued success in the media industry.