Revenues

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenues

4. REVENUES

Disaggregated Revenue

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

	Year Ended December 31,
	2023		2022		2021
Digital advertising	$	932,730	$	747,103	$	555,338
Broadcast advertising		124,722		161,713		154,297
Spectrum usage rights		8,156		6,036		6,195
Retransmission consent		36,556		36,022		37,041
Other		4,703		5,335		7,321
Total revenue	$	1,106,867	$	956,209	$	760,192

Contracts are entered into directly with customers or through an advertising agency that represents the customer. Sales of advertising to customers or agencies within a station’s designated market area (“DMA”) are referred to as local revenue, whereas sales from outside the DMA are referred to as national revenue. The following table further disaggregates the Company’s broadcast advertising revenue by sales channel (in thousands):

	Year Ended December 31,
	2023		2022		2021
Local direct	$	21,826	$	22,931	$	23,070
Local agency		54,485		54,094		59,865
National agency		48,411		84,688		71,362
Total revenue	$	124,722	$	161,713	$	154,297

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

	Year Ended December 31,
	2023		2022		2021
U.S.	$	217,147	$	247,371	$	235,876
Latin America		615,960		518,100		466,638
EMEA (1)		155,300		99,464		26,780
Asia		118,460		91,274		30,898
Total revenue	$	1,106,867	$	956,209	$	760,192

(1) EMEA means Europe, Middle East and Africa. Substantially all revenue in EMEA is related to Europe.

Deferred Revenue

(in thousands)	December 31, 2022		Increase	Decrease		December 31, 2023
Deferred revenue	$	7,175	4,114	(7,175	)	$	4,114

(in thousands)	December 31, 2021		Increase	Decrease		December 31, 2022
Deferred revenue	$	5,942	7,175	(5,942	)	$	7,175