Why did MDIA's revenue surge in Q3 2024 despite rising expenses?

MediaCo Holding Inc. (MDIA) experienced a notable surge in revenue during Q3 2024, with a year-over-year growth rate of 3.63%, which can be attributed to several key factors:

1. **Acquisition-Driven Growth**: The acquisition of Estrella Broadcasting, Inc. significantly expanded Mediaco's media portfolio and operational capabilities. This strategic move likely contributed to the increase in revenue, as the acquired company's operations complemented Mediaco's existing media landscape, leading to enhanced market reach and revenue segments.
2. **New Revenue Segments**: The acquisition has created new revenue segments, which contributed to the overall revenue growth. This diversification in revenue streams likely helped Mediaco mitigate risks and boosted its top line during the quarter.
3. **Financial Support**: Mediaco secured an additional $7.5 million credit facility, which provides the company with the financial backing needed to support its operational needs and capitalize on growth opportunities. This financial support likely enabled Mediaco to invest in its business and drive revenue growth.

In conclusion, Mediaco's revenue surge in Q3 2024 can be attributed to a combination of strategic acquisitions, the creation of new revenue segments, and financial support. These factors collectively contributed to the company's revenue growth despite rising expenses.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|MDIA|MDIA.O|MediaCo Holding|2023 Q4|-32.55861997727508|6529000|186|
|MDIA|MDIA.O|MediaCo Holding|2024 Q1|-8.575323790047715|6706000|186|
|MDIA|MDIA.O|MediaCo Holding|2024 Q2|116.90397350993378|2.6202E7|186|
|MDIA|MDIA.O|MediaCo Holding|2024 Q3|363.1456491391345|2.9859E7|186|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|MDIA|MDIA.O|MediaCo Holding|2023 Q4|-106.83741812026202|-2787000|186|
|MDIA|MDIA.O|MediaCo Holding|2024 Q1|-74.51352634076886|-3677000|186|
|MDIA|MDIA.O|MediaCo Holding|2024 Q2|-11374.346793349168|-4.8307E7|186|
|MDIA|MDIA.O|MediaCo Holding|2024 Q3|2471.588946459413|5.4926E7|186|