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Revenues (Tables)
6 Months Ended
Jun. 30, 2023
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

 

 

Six-Month Period

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Digital advertising

 

$

229,896

 

 

$

174,378

 

 

$

426,378

 

 

$

328,089

 

Broadcast advertising

 

 

30,983

 

 

 

35,347

 

 

 

60,610

 

 

 

66,804

 

Spectrum usage rights

 

 

2,078

 

 

 

1,674

 

 

 

4,224

 

 

 

3,209

 

Retransmission consent

 

 

9,324

 

 

 

9,038

 

 

 

18,947

 

 

 

18,233

 

Other

 

 

1,100

 

 

 

1,258

 

 

 

2,228

 

 

 

2,532

 

Total revenue

 

$

273,381

 

 

$

221,695

 

 

$

512,387

 

 

$

418,867

 

 

 

Three-Month Period

 

 

Six-Month Period

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Local direct

 

$

5,480

 

 

$

6,009

 

 

$

10,788

 

 

$

11,430

 

Local agency

 

 

13,687

 

 

 

13,017

 

 

 

26,559

 

 

 

25,570

 

National agency

 

 

11,816

 

 

 

16,321

 

 

 

23,263

 

 

 

29,804

 

Total revenue

 

$

30,983

 

 

$

35,347

 

 

$

60,610

 

 

$

66,804

 

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

 

 

Six-Month Period

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

U.S.

 

$

51,946

 

 

$

59,069

 

 

$

98,916

 

 

$

111,340

 

Latin America

 

 

154,231

 

 

 

127,669

 

 

 

286,149

 

 

 

242,838

 

Asia

 

 

29,502

 

 

 

18,895

 

 

 

53,565

 

 

 

36,074

 

EMEA

 

 

37,702

 

 

 

16,062

 

 

 

73,757

 

 

 

28,615

 

Total revenue

 

$

273,381

 

 

$

221,695

 

 

$

512,387

 

 

$

418,867

 

Summary of Deferred Revenue

(in thousands)

December 31, 2022

 

Increase

 

Decrease *

 

 

June 30, 2023

 

Deferred revenue

$

7,175

 

7,080

 

(7,175)

 

 

$

7,080

 

 

* The amount reflects revenue that was deferred as of December 31, 2022 and has been recorded as revenue in the six-month period ended June 30, 2023.