Cumulus Media reported a 2.5% revenue decline in Q2 2024 to $205 million but achieved $25.2 million EBITDA and $8.3 million cash from operations.
Digital marketing services revenue surged by 24%, fueled by new customer acquisitions and larger campaigns. The company also cut fixed costs by $4 million.
Cumulus succeeded in extending debt maturities to 2029 and demonstrated growth in podcasting revenue while managing declines in streaming revenue.
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