The financial engineering has resulted in what Mary Berner calls 'considerable additional runway with which to continue executing against our strategic, operational and financial priorities.'
Total revenue lost ground by 2.7%, but the Digital Marketing Services division increased revenue by 25% and total digital revenue gained seven percent.
The company achieved a 12% improvement in converting previously radio-only customers to digital marketing services buyers.
Cumulus lists negative points like political revenue down 55%, challenges in national advertising due to the interest rate environment, and ongoing struggles in local spot revenue performance.
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