MediaCo Holding Inc. saw its Q1 Net Revenue rise 12% to $31.4 million from new digital revenue sales.

MediaCo’s Year-to-date Net Loss was $9.4 million, compared to a Net Loss of $8.6 million from the prior year, primarily due to the increase in digital expenses, loss on disposal of assets and higher net interest costs; partially offset by higher revenue and higher net other income. The company’s adjusted EBITDA was income of $0.2 million, down $1.2 million from the prior year.

President/CEO Albert Rodriguez said, “We delivered double digit growth in our net revenues during the first quarter, as we continued to capitalize on our growing leadership position in serving multicultural audiences though our modern, cross-platform distribution ecosystem. Our growing digital platform is central to driving our success, as half our advertising revenues were generated through our digital channels during the quarter, once again ranking our company among the top performers in our industry.”

He continued, “Through our strong pipeline of culturally authentic, high-impact programming combined with our expanding distribution footprint across television, radio, digital and FAST platforms, we are growing our audience reach and elevating our ability to serve advertisers. As we monetize the strategic investments we are making in our assets and expand our revenue sources, we remain focused on streamlining our operations and building efficiencies across our business model. As a result, we believe our future is very bright as we continue to execute on our plan and deliver on our mission in serving the nation’s growing multicultural population.”