Audacy has reported the company’s fiscal results for both the fourth quarter and full year of 2021. In Q4, net revenues were $344.7 million, up eight percent compared to $319.5 million in the fourth quarter of 2020. Excluding the impact of political advertising, Q4 net revenue increased 13 percent. Digital revenue totaled $68.1 million, up 16 percent compared to the fourth quarter the year prior.
For the full year, Audacy net revenue reached $1.219 million, up from $1.06 million in 2020.
Audacy President/CEO David J. Field stated, “Audacy’s fourth quarter revenues grew 8% over the prior year, 13% ex-political, led by double digit growth in both digital and spot radio. Pandemic recovery continued as an increasing number of disrupted advertisers resumed spending.
In 2021, we accelerated our organizational development through a number of important strategic acquisitions, organic growth initiatives, structural improvements, and content and senior talent additions. This was also the year in which we rebranded the company to reflect our evolution into a leading, multi-platform audio content and entertainment company with scaled audience reach and important leadership positions across the full spectrum of the dynamic, growing audio market. Our 2021 acquisitions of Podcorn and AmperWave, plus BetQL just prior to the start of the year, are important additions to our capabilities that will fuel accelerated growth and enhance how we serve our listeners and customers.
Audacy today is well positioned to capitalize on the exciting growth opportunities within audio at the same time as we anticipate the continuing recovery of radio ad spending. We are off to a very good start to 2022 and our team is excited about the year ahead.”
