Like other radio companies reporting, these increases are compared to a pandemic-ravaged 2020. On the radio side, spot revenue was up 12% to $122 million and network revenue increased 21% to $63.4 million. Digital revenue increased 67% to $33.3 million.
Total net revenue for Cumulus in the quarter was $237 million. Back in Q3 2019, before the pandemic, Cumulus net revenue came in at $280 million. Spot revenue was $161 million, network revenue was $78 million and digital was $20 million.
Cumulus finished Q3 2021 with a cash balance of $153 million and total debt of $826 million.
Looking ahead to 2022 the company expects to generate approximately $1 billion in revenue and maintain more than $70 million of permanent fixed cost reductions compared to 2019.
