A digital audio signal is a "traveling wave".
As such, if there is anyplace in the signal path that is not 75 ohms, there will be a reflection of the signal. The more places this happens, and the farther the impedance is from 75 ohms, the greater the reflection.
The reflections cause two problems, they reduce the level of the original, and they look like noise riding on the signal.
BTW, this is also why you should use BNC's instead of RCA's for digital signals, because RCA's are not 75 ohms.
Randy