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Revenues (Tables)
9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Revenue by Major Source, Sales Channel and by Geographical Region Based on Location of Sales Office

The following table presents our revenues disaggregated by major source (in thousands):

 

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Digital advertising

 

$

188,877

 

 

$

146,121

 

 

$

516,966

 

 

$

377,826

 

Broadcast advertising

 

 

39,965

 

 

 

40,495

 

 

 

106,769

 

 

 

110,608

 

Spectrum usage rights

 

 

1,584

 

 

 

1,104

 

 

 

4,793

 

 

 

5,057

 

Retransmission consent

 

 

8,926

 

 

 

9,128

 

 

 

27,159

 

 

 

28,061

 

Other

 

 

1,662

 

 

 

2,160

 

 

 

4,194

 

 

 

4,746

 

Total revenue

 

$

241,014

 

 

$

199,008

 

 

$

659,881

 

 

$

526,298

 

The following table further disaggregates the Company’s broadcast advertising revenue by sales channel (in thousands):

 

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Local direct

 

$

5,935

 

 

$

5,881

 

 

$

17,365

 

 

$

16,850

 

Local agency

 

 

13,410

 

 

 

16,122

 

 

 

38,980

 

 

 

44,529

 

National agency

 

 

20,620

 

 

 

18,492

 

 

 

50,424

 

 

 

49,229

 

Total revenue

 

$

39,965

 

 

$

40,495

 

 

$

106,769

 

 

$

110,608

 

The following table further disaggregates the Company’s revenue by geographical region, based on the location of the sales office (in thousands):

 

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

U.S.

 

$

61,735

 

 

$

60,265

 

 

$

173,075

 

 

$

166,870

 

Latin America

 

 

130,515

 

 

 

120,783

 

 

 

373,353

 

 

 

329,897

 

Asia

 

 

21,477

 

 

 

12,103

 

 

 

57,551

 

 

 

12,103

 

Rest of the World

 

 

27,287

 

 

 

5,857

 

 

 

55,902

 

 

 

17,428

 

Total revenue

 

$

241,014

 

 

$

199,008

 

 

$

659,881

 

 

$

526,298

 

Summary of Deferred Revenue

(in thousands)

December 31, 2021

 

Increase

 

Decrease *

 

 

September 30, 2022

 

Deferred revenue

$

5,942

 

6,974

 

(5,942)

 

 

$

6,974

 

 

* The amount reflects revenue that was deferred as of December 31, 2021 and has been recorded as revenue in the nine-month period ended September 30, 2022.