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Audacy Press Release Investor Contacts : Joseph Jaffoni , Jennifer Neuman , Norberto Aja JCIR ( 212 ) 835-8500 AUD@jcir.com For Immediate Release November 9 , 2021 AUDACY REPORTS THIRD QUARTER RESULTS Net Revenues Increased 23 % and Adjusted EBITDA Increased 58 % Philadelphia , PA — Audacy , Inc. ( NYSE : AUD ) today reported financial results for the quarter ended September 30 , 2021 . David J. Field , President and Chief Executive Officer , stated : “ I am pleased to report that Audacy continues to rebound from the pandemic , as third quarter revenues grew 23 % over the prior year and 8 % sequentially over the second quarter , while EBITDA grew 58 % year over year . While many ad categories remain highly impacted as a result of the pandemic , it is great to see an increasing number of categories back above 2019 spending levels . During October , we announced the acquisition of WideOrbit's digital audio streaming and ad tech business , which we have relaunched as AmperWave , enabling us to accelerate our digital product roadmap and enhance our growth potential . We returned to live events with our Stars and Strings show in New York and We Can Survive at the Hollywood Bowl , both sell outs featuring Zak Brown , Darius Rucker , Chris Young , Coldplay , Shawn Mendes , Maroon 5 , Doja Cat , the Black Eyed Peas , and more . And our podcast studios had a strong quarter of creative , premium original content development including the first release from our 2400Sports studio , our first C13 Features ' movie for your ears ' in partnership with Endeavor , and the Succession companion podcast hosted by Kara Swisher in partnership with HBO Max . We continue to rapidly evolve and fundamentally elevate the organization through a series of strategic acquisitions , organic growth initiatives , structural improvements , talent additions and premium content development and are well positioned to accelerate our growth and capitalize on the exciting opportunities in the dynamically growing audio marketplace . " Third Quarter Summary Net revenues for the quarter were $ 329.4 million , up 23 % compared to $ 268.5 million in the third quarter of 2020 Spot revenues were $ 220.6 million , up 21 % compared to the third quarter of 2020 Digital revenues were $ 61.4 million , up 30 % compared to the third quarter of 2020 ●