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Segment Data (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Separate Financial Data for Each of Company's Operating Segment

The accounting policies applied to determine the segment information are generally the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates the performance of its operating segments based on separate financial data for each operating segment as provided below (in thousands):

 

 

 

Years Ended December 31,

 

 

% Change

 

 

% Change

 

 

 

 

2021

 

 

 

2020

 

 

 

2019

 

 

2021 to 2020

 

 

2020 to 2019

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

$

555,338

 

 

$

143,309

 

 

$

68,908

 

 

 

288

%

 

 

108

%

Television

 

 

146,839

 

 

 

154,456

 

 

 

149,654

 

 

 

(5

)%

 

 

3

%

Audio

 

 

58,015

 

 

 

46,261

 

 

 

55,013

 

 

 

25

%

 

 

(16

)%

Consolidated

 

 

760,192

 

 

 

344,026

 

 

 

273,575

 

 

 

121

%

 

 

26

%

Cost of revenue - digital

 

 

466,517

 

 

 

106,928

 

 

 

36,757

 

 

 

336

%

 

 

191

%

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

25,481

 

 

 

15,227

 

 

 

18,357

 

 

 

67

%

 

 

(17

)%

Television

 

 

63,016

 

 

 

61,145

 

 

 

61,778

 

 

 

3

%

 

 

(1

)%

Audio

 

 

27,952

 

 

 

28,537

 

 

 

39,277

 

 

 

(2

)%

 

 

(27

)%

Consolidated

 

 

116,449

 

 

 

104,909

 

 

 

119,412

 

 

 

11

%

 

 

(12

)%

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

26,123

 

 

 

15,404

 

 

 

13,904

 

 

 

70

%

 

 

11

%

Television

 

 

18,381

 

 

 

19,748

 

 

 

22,638

 

 

 

(7

)%

 

 

(13

)%

Audio

 

 

12,081

 

 

 

13,252

 

 

 

17,423

 

 

 

(9

)%

 

 

(24

)%

Consolidated

 

 

56,585

 

 

 

48,404

 

 

 

53,965

 

 

 

17

%

 

 

(10

)%

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

8,377

 

 

 

2,561

 

 

 

4,723

 

 

 

227

%

 

 

(46

)%

Television

 

 

12,477

 

 

 

12,918

 

 

 

10,059

 

 

 

(3

)%

 

 

28

%

Audio

 

 

1,566

 

 

 

1,803

 

 

 

1,866

 

 

 

(13

)%

 

 

(3

)%

Consolidated

 

 

22,420

 

 

 

17,282

 

 

 

16,648

 

 

 

30

%

 

 

4

%

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

28,840

 

 

 

3,189

 

 

 

(4,833

)

 

 

804

%

 

*

 

Television

 

 

52,965

 

 

 

60,645

 

 

 

55,179

 

 

 

(13

)%

 

 

10

%

Audio

 

 

16,416

 

 

 

2,669

 

 

 

(3,553

)

 

 

515

%

 

*

 

Consolidated

 

 

98,221

 

 

 

66,503

 

 

 

46,793

 

 

 

48

%

 

 

42

%

Corporate expenses

 

 

32,993

 

 

 

27,807

 

 

 

28,067

 

 

 

19

%

 

 

(1

)%

Change in fair value of contingent consideration

 

 

8,224

 

 

 

 

 

 

(6,478

)

 

*

 

 

 

(100

)%

Impairment charge

 

 

3,023

 

 

 

40,035

 

 

 

32,097

 

 

 

(92

)%

 

 

25

%

Foreign currency (gain) loss

 

 

508

 

 

 

(1,052

)

 

 

754

 

 

*

 

 

*

 

Other operating (gain) loss

 

 

(6,998

)

 

 

(6,895

)

 

 

(5,994

)

 

 

1

%

 

 

15

%

Operating income (loss)

 

$

60,471

 

 

$

6,608

 

 

$

(1,653

)

 

 

815

%

 

*

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

$

2,073

 

 

$

1,659

 

 

$

318

 

 

 

 

 

 

 

Television

 

 

2,833

 

 

 

7,184

 

 

 

24,174

 

 

 

 

 

 

 

Audio

 

 

705

 

 

 

641

 

 

 

792

 

 

 

 

 

 

 

Consolidated

 

$

5,611

 

 

$

9,484

 

 

$

25,284

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

$

309,347

 

 

$

196,020

 

 

$

51,979

 

 

 

 

 

 

 

Television

 

 

433,303

 

 

 

425,899

 

 

 

465,758

 

 

 

 

 

 

 

Audio

 

 

108,692

 

 

 

125,426

 

 

 

138,463

 

 

 

 

 

 

 

Consolidated

 

$

851,342

 

 

$

747,345

 

 

$

656,200