This article first appeared on GuruFocus. Digital Revenue Growth: Up 2% in Q3, marking the 12th consecutive quarter of digital revenue growth (down from 6% in Q2). Non-Sessions-Based Revenue: Grew 15%, in line with Q2, driven by licensing, content syndication, events and social video. Legacy Sessions-Based Revenue: Declined 6% in Q3 versus a 1% decline in Q2. Web Sessions: Declined 26%, up from a 22% decline last quarter, primarily due to declines in Google referrals. Total Digital Ads: Declined 8% in the quarter, directly attributable to core session declines. Licensing Revenue: Grew 49% in the quarter. Digital EBITDA (People): Down about $1 million year-over-year. PPLI EBITDA (Holdco): Flat year-over-year.
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