Cumulus Media reports its operating results for the third quarter of 2025 and reveals net revenue of $180.3 million, a decline of 11.5% from the same period in 2024. The company says it generated digital revenue of $39 million, a decrease of 2.6% year-over-year, or an increase of
8.4% excluding the $6.9 million impact from discontinuing the DailyWire and Dan Bongino relationships. The company posted a net loss of $20.4 million compared to net loss of $10.3 million in Q3 2024. Cumulus breaks down its revenue by segment and reports that its broadcast radio spot revenue declined 13.1% to $83.7 million, while network revenue fell 26.5% to $31.2 million. Total broadcast revenue was 
$114.9 million, a decrease of 17.2% from the same period in 2024. Cumulus president and CEO Mary G. Berner says, “In an advertising environment that remained challenging for legacy media, we continued to outperform. We once again gained market share in total broadcast spot as well as in digital, where our market share gains reflected the strong growth of our digital marketing services business, which was up 34% in the quarter. Additionally, we remained highly focused on re-engineering the business, reducing annualized fixed costs by $7 million and accelerating our efforts to implement a wide array of AI initiatives to drive efficiencies and enhance growth. These results underscore our disciplined focus on optimizing performance in areas that we can control. While we do not expect the current headwinds to abate in the near-term, we remain confident in our ability to position the company for long-term success through strong execution and by maximizing value from the company’s underlying assets.”
