Audacy, the owner of Pineapple Street Studios and known for its Audacy Beach Festival, recently reported a decline in music revenue and a net loss for Q1. The company’s music revenue fell to $128.12 million, which is a quarterly decrease of nearly 25%. This figure is also lower than what was attributed to the category in each quarter of 2021 and 2022. This decline in revenue has been a major cause of concern for the company
In addition, the company reported a net loss of $35.90 million for Q1. Despite this, Audacy’s podcast divisions boasted “44 million listeners,” according to the executives. They also highlighted…
