Reve-News: Audacy has reported Q1 2022 net revenue of $275.3 million, up 14% from Q1 2021's $240.8m. Spot revenue was up 13.4% from $154.3m to $175.1m, while digital revenue was up from $49.8m last year to $58.0m (16%). Total operating expenses were up 12% from $249.0m to $266.8m. Adjusted EBITDA for the quarter was $26.0m, up from $10.3m last year. "I am pleased to report that Audacy posted strong first quarter results, delivering 152% growth in Adjusted EBITDA led by double digit revenue growth in both digital and spot radio," says CEO David Field. Full report here.

Townsquare reported a Q1 2022 net revenue increase of 12.9% to $100.2 million from the previous year's $88.8m, and for the first time reaching pre-COVID levels, 7% ahead of Q1 2019. Adjusted EBITDA increased 9.8% from $20.1m to $22.1m. The company saw net income of $2.7m, compared to a loss of $6.1m last year. Digital net revenue increased $15.9% from $44.1m to $51.1m. "These results and confidence in our outlook are due, in part, to the fact that Townsquare is the only local media and digital marketing solutions company of scale focused principally on markets outside of the Top 50," says CEO Bill Wilson. Details here.

Warner Music Group announced total revenue of $1.376 billion for the quarter ending March 31, an increase of 10% from the previous year's $1.25b. Recorded music revenue was $1.147b, an increase of 8% from last year's $1.059b. Digital revenue was up 8% to $931 million. "Warner Music Group’s unique combination of scale and agility gives us, our artists and our songwriters an edge in music’s ever-expanding universe of opportunity," says CEO Steve Cooper. See the release here.