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Audacy, Inc. is a comprehensive, multi-platform audio content and entertainment company well-regarded as a leader in every segment of audio broadcasting. With a vast and highly diversified portfolio, Audacy stands as America's #1 creator of original, premium audio content. The company engages over 170 million consumers each month by delivering top-notch news, sports, podcasts, and music content that resonates with audiences nationwide.
Audacy's core business revolves around operating the country's best radio broadcasting group alongside a spectrum of digital and live event experiences. This multi-platform approach allows the company to provide unique, high-quality audio content across various channels, ensuring a broad reach and deep engagement.
Audacy has achieved significant milestones recently, continuously innovating and expanding its offerings. The company has invested heavily in podcasting, becoming a dominant player in this rapidly growing market segment. Additionally, Audacy has formed strategic partnerships with key industry players to enhance content delivery and listener experience.
Financially, Audacy remains robust, with consistent revenue streams and a solid market position. The company's diversified portfolio and adaptive strategies help it maintain stability and growth potential amidst an ever-evolving media landscape.
Currently, Audacy is focused on several promising projects, including the development of exclusive live events and expanding its digital footprint to cater to the dynamic preferences of modern audiences. By leveraging cutting-edge technology and insightful consumer data, Audacy continues to deliver content that matters most to its audience.
For the latest updates and relevant information about Audacy, Inc.'s performance, events, and developments, visit the corresponding sections on StockTitan.
Audacy (NYSE: AUD) has acquired an exclusive, perpetual license to WideOrbit’s digital audio streaming technology and related assets. This strategic move is aimed at enhancing Audacy’s digital platform, which serves 170 million monthly listeners. The new technology will allow Audacy to improve consumer streaming features and control its product roadmap. WO Streaming will now operate under the name AmperWave, with its team joining Audacy to enhance cloud-based audio distribution and monetization.
Audacy, Inc. (NYSE: AUD) announced the planned offering of $45 million in 6.500% senior secured second-lien notes due 2027. This will facilitate a $40 million digital acquisition, expected to close in October 2021, funded through a draw on a revolving credit facility. The company aims to use net proceeds from the offering to repay outstanding term loan amounts, ensuring no direct link between the two transactions. The Additional Notes will be guaranteed by subsidiaries and offered privately, exempt from certain registration requirements.
Cadence13, a podcast studio under Audacy, announces the casting of Kate Mara and Adam Scott in the psychological thriller Ghostwriter. This marks the studio's second scripted audio feature, set to release on December 6, 2021, across podcast platforms. The storyline follows a writer, played by Mara, as she becomes entangled with a billionaire, portrayed by Scott, while ghostwriting a novel about a killer. The project is produced in collaboration with Best Case Studios, with Chris Corcoran serving as an Executive Producer.
Audacy and Cumulus Media have formed a content distribution partnership, integrating Cumulus's 413 radio stations and podcasts onto the Audacy digital platform. This collaboration aims to enhance listener access and engagement, aligning with Cumulus's strategy of multi-platform content distribution. The Audacy app now offers users diverse audio options, including over 2,000 local and national stations and numerous devices compatible for streaming. This partnership positions Audacy to strengthen its growth in the digital radio space.
Audacy reported a strong recovery in Q2 2021, with revenues soaring 73% year-over-year to $304.5 million. Spot radio advertising surged 98%, and digital revenues increased 41%. The company expects a sequential revenue increase of 10% in Q3 and a 25% increase compared to last year. Significant developments include launching 350 exclusive digital stations, partnerships with Major League Baseball and American Public Media, and the establishment of the new 2400Sports podcast studio. Operating income reached $17.9 million, a substantial improvement from a loss of $45.5 million last year.
Carmelo Anthony, a top NBA scorer and 10-time All-Star, announced the launch of his debut podcast, What's In Your Glass?, in partnership with Creative 7 and Cadence13. The podcast will feature engaging conversations with notable guests across various fields, focusing on wine and societal issues. The series premieres on July 22, 2021, on major platforms, including Apple Podcasts and Spotify. Anthony, recognized for his commitment to social justice, aims to make the wine industry more inclusive. This collaboration positions him at the forefront of a growing wine trend within the NBA.
Audacy, Inc. (NYSE: AUD) is set to announce its second quarter financial results on August 6, 2021, before market opening. A conference call will take place at 10:00 a.m. ET to discuss the results and recent strategic achievements. Interested parties can join via phone or tune into a live webcast. Audacy is a leading multi-platform audio content and entertainment company, reaching over 170 million consumers each month with its extensive radio broadcasting and original audio content.
Audacy has launched over 350 new exclusive music stations on its digital platform, designed to enhance listener experience with a variety of music genres. Curated by industry influencers and artists, these stations aim to engage users through personalized content. J.D. Crowley, Chief Digital Officer, emphasized that this initiative reflects Audacy's commitment to innovation. Notable artists, including Coldplay and Tiësto, will contribute curated stations. The updates are part of Audacy's transformational rebrand, enhancing its digital ecosystem powered by Napster.
Audacy has launched 2400Sports, a new podcast studio dedicated to sports digital audio content. This studio expands Audacy's podcast portfolio, which includes Cadence13 and Pineapple Street Studios. The launch coincides with Audacy becoming the official audio partner of Major League Baseball, featuring a flagship podcast series focused on the Cubs' 2016 World Series win. The studio will collaborate with all MLB clubs to create engaging content. Additionally, a development deal with Jody Avirgan's Roulette Productions will enhance programming diversity.
Audacy has announced new weekday shows on the BetQL Network, starting June 21, in partnership with BetMGM. 'The Daily Tip' will air from 6-9 a.m. ET and 'BetMGM Tonight' from 7-11 p.m. ET, offering insights and analysis on sports betting. Audacy's BetQL Network aims to be the premier destination for sports betting, leveraging BetMGM's expertise. With a vast reach across various platforms, Audacy continues to solidify its leadership in sports radio, serving millions of fans monthly and hosting numerous professional sports teams.
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