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NET REVENUES
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
NET REVENUES
3. NET REVENUES
Revenue Recognition
The following table shows the sources of the Company’s net revenues by contract type and segment for the years ended December 31, 2024 and 2023:
(in thousands)Radio
Broadcasting		Reach
Media		DigitalCable
Television		EliminationsConsolidated
Year Ended December 31, 2024
Net Revenue:
Radio advertising$143,242 $35,105 $— $— $(2,616)$175,731 
Political advertising14,303 1,955 3,756 425 — 20,439 
Digital advertising— — 66,992 — — 66,992 
Cable television advertising— — — 90,604 — 90,604 
Cable television affiliate fees— — — 77,071 — 77,071 
Event revenues & other8,258 10,200 — 99 280 18,837 
Net revenue$165,803 $47,260 $70,748 $168,199 $(2,336)$449,674 
Year Ended December 31, 2023
Net Revenue:
Radio advertising$146,171 $39,851 $— $— $(3,660)$182,362 
Political advertising2,854 398 629 — — 3,881 
Digital advertising— — 74,866 — — 74,866 
Cable television advertising— — — 108,307 — 108,307 
Cable television affiliate fees— — — 87,747 — 87,747 
Event revenues & other7,189 12,639 — 153 546 20,527 
Net revenue$156,214 $52,888 $75,495 $196,207 $(3,114)$477,690 
Contract Assets and Liabilities
Contract assets and contract liabilities that are not separately stated in the Company’s consolidated balance sheets as of December 31, 2024 and 2023 were as follows:
December 31, 2024December 31, 2023
(in thousands)
Contract assets:
Unbilled receivables$5,969 $5,437 
Contract liabilities:
Customer advances and unearned income$2,200 $4,851 
Reserve for audience deficiency22,383 12,779 
Unearned event income1,152 4,864 
For customer advances and unearned income as of January 1, 2024, approximately $3.6 million was recognized as revenue for the year ended December 31, 2024. For the reserve for audience deficiency as of January 1, 2024, approximately $3.4 million was recognized as revenue during the year ended December 31, 2024. For unearned event income as of January 1, 2024, approximately $4.9 million was recognized as revenue during the year ended December 31, 2024. The Company expects to recognize the revenue resulting from these contract liabilities within the next twelve months.