Mary Berner
executive
Thanks, Collin, and good morning, everyone. Q3 total revenue was down 11.5% or 5%, excluding the impact of political, Daily Wire and the Dan Bongino Show, which was consistent with the pacing guidance we provided. These results are a reflection of the ongoing headwinds in broadcast radio. Despite the difficult environment, we continue to make progress in areas under our control. And we've been acutely focused on gaining revenue and ratings market share, resulting in our outperformance versus our peers across numerous key metrics.
Specifically, for the third straight quarter, we grew our broadcast spot revenue market share, reflecting an emphasis on strong sales execution, live and local programming, our dynamic inventory management capabilities. On ratings, we once again grew market share in our PPM markets. We also continued to grow our digital revenue market share, led by the performance of our digital marketing services business, which was up 34% in the quarter.
We further reduced costs, adding $7 million of annualized cost in the quarter, bringing year-to-date savings to $20 million and total fixed cost reductions over the last 5 years to more than $182 million or more than 30% of our 2019 fixed cost base. We continue to leverage our use of AI to create both opportunities and business efficiencies across all functional aspects of the company. And we finished the quarter with $90 million of cash and $109 million of total liquidity.
While as I said, there were significant headwinds, despite that, there were also some significant bright spots. Our digital marketing services business continues to significantly outperform the market, driven by strong sales execution and additional investments in the business. This revenue stream's 34% year-over-year growth in the quarter represents the third straight quarter of above 30% growth, reflecting both growth in new accounts, up 88% as well as higher campaign order size, up 8%.
These results continue to underscore the efficacy of our digital -- DMS sales strategy and our ability to seamlessly leverage our tens of thousands of client relationships to sell a curated set of digital marketing services products in combination with our owned broadcasting and digital audio audiences. Our competitiveness is further reinforced by the fact that our DMS solutions deliver ROI for our clients that outperform industry benchmarks by an average of more than 25%. This performance has also helped to fuel our success in upselling existing radio customers as we have nearly doubled the percentage of our legacy customers who also buy DMS, driven by targeted investments in sales resources and capabilities.
We remain very bullish about the prospects for this business and the strong returns we expect from our continued investment in DMS. Our other digital businesses, which include streaming and the Cumulus Podcast Network, also continue to perform well. Normalizing for the Daily Wire and Dan Bongino comparisons, year-over-year podcasting was up 15%. And with that same normalization and including our 34% year-over-year DMS growth, total digital revenue for the quarter was up over 8%.
We continue to refine our slate of personality-driven podcasts. Just this month, we announced the launch of the next role with former NFL star and Super Bowl champion turned actor and producer, Vernon Davis, as well as Family Matters with CJ Pearson, a nationally recognized Gen Z conservative commentator and activist who was recently named one of Time magazine's 100 most influential people online in 2025.
Moving to broadcast. Advertising headwinds continued to meaningfully impact both our spot and network business. That said, this quarter, we once again gained total revenue market share in the markets in which we compete, reflecting, among other things, our ongoing focus on live and local programming, which we view as an area of key differentiation. In today's fragmented media environment, we believe that strong relationships created by our trusted on-air personalities help build enduring audiences and loyal advertising customers, as evidenced in Dallas, our largest market, where we gained almost 4 points of market share this quarter, driven by The Ticket, our dominant local sports talk station. Of note, our outperformance in Dallas was particularly outsized in September with total revenue up mid-single digits, while our peers were down almost 10%.
From a national perspective, the weak overall national advertising environment continued to have a large impact on our network business. While we benefited from the start of the NFL season given the relatively strong demand for live sports, the extremely depressed general market environment drove total network revenue down 27%. In that context, normalizing for the loss of the Daily Wire, Dan Bongino and unprofitable contracts that we terminated this year, we still gained market share year-to-date and in the third quarter.
As network revenue was compressed, we took swift action over the last several quarters, making significant cost reductions, renegotiating contracts, reengineering the way we are structured and how we go to market and positioning ourselves to have a more flexible cost structure in the future. Additionally, given the relative resilience in sports demand, we were pleased to announce last week that we will be launching the Westwood One Sports 24/7 network at the turn of the year. This network will be anchored by popular existing dayparts like The Jim Rome Show and You Better You Bet, along with new shows that we are currently developing.
The strategy is underpinned by the strong consumer brand recognition of Westwood One Sports and provides a pathway for revenue growth from new digital distribution and monetization rights. And given the infrastructure that we already have in place, the network would be launched in a way that actually reduces our overall costs. Looking ahead to Q4, we are largely seeing a continuation of Q3 trends with total revenue pacing down mid-single digits when excluding the impact of political, Daily Wire and Dan Bongino. Including those impacts, we are pacing down mid- to high teens. This is partially offset by the strength in our local digital marketing services business.
Given that broadcast radio backdrop, while we continue to invest in digital growth as inarguably best-in-class cost cutters, we also remain highly focused on reengineering. During the third quarter, we cut $7 million of annualized net fixed costs through a combination of outsourcing of our traffic function and contract negotiations and terminations and have ramped up our efforts to identify and implement a wide array of AI opportunities to drive further efficiencies and enhance growth.
As mentioned last quarter, we have more than 100 different project ideas that have now been prioritized for execution and many are in the early stages of implementation. These include building agents for sales prospecting and category lead generation, replacing certain customer service functions with chatbots to accelerate response time, and leveraging AI to clip and redistribute play-by-play games in near real time to increase the engagement with and reach of our content.
We remain excited about the long-term value that executing the full breadth of these opportunities can unlock. Moving to the balance sheet. We ended the quarter with $90 million of cash. We also expect to complete the sale of our Nashville property for $10.5 million and receive approximately $2 million of proceeds for land in New Mexico associated with property we sold in 2020 as part of the tower portfolio transaction. Under the 2020 agreement, we have a right to 50% of net proceeds from land subsequently sold.
We anticipate receiving the cash for both transitions in the fourth -- transactions in the fourth quarter. Meanwhile, we continue to work on several other noncore asset sales whose closings are being pushed into next year as a result of the FCC approval delays because of government shutdown.
While we do not expect secular headwinds to abate in the short term, we do believe we will continue to outperform our peers in the areas we can control by continuing to execute our strategies to further leverage the company's core competencies and valuable underlying assets, which include our massive megaphone that reaches 92% of the country and 250 million listeners every month; our ability to walk product into the door as delivered by our almost 500 locally embedded sales professionals; our established relationships with approximately 30,000 local and national businesses who are natural customers for new products we develop; our multi-platform content engine that creates monetizable content in an almost endless variety of formats, and our extensive constantly growing library of premium audio content that can be redeployed and monetized in multiple ways.
Before I turn the call over to Frank, I want to acknowledge the litigation we recently filed against Nielsen. We feel strongly about the merits of our claim, and we look forward to arguing the case in court. As for timing, we are operating under an expedited discovery schedule with a preliminary injunction hearing to be held in early December. With that, I'll turn the call over to Frank. Frank?
