Cumulus Media Q1 Revenue Falls 6.4%
Cumulus Media reports its operating results for the first quarter of 2025 and says net revenue was $187.3 million, a decline of 6.4% from the same period in 2024. The company’s net loss increased to $32.4 million compared to the net loss of $14.2 million it reported in Q1 of 2024. Cumulus president
and CEO Mary Berner says, “For the first quarter, we delivered revenue in line with pacing guidance despite worsening economic headwinds reflecting, among other things, the imposition of tariffs that have depressed both 
consumer and advertiser sentiment. However, with that backdrop, what remains constant is our relentless focus on actions to mitigate the impacts of the macro environment. For example, we accelerated growth in our digital marketing services business, which was up 30% for the quarter; leveraged our entire platform to capture demand opportunities; and drove additional annualized cost reductions of $7.5 million. Moving forward, we will continue to execute these strategies while simultaneously working to fundamentally transform the way we use and leverage our key assets.”
NASDAQ after failing to bring its stock price above $1 for the required period of time. The statement says the company will do this “rather than investing time, effort, and cost into developing a plan to remain on NASDAQ.” The change takes effect on May 2 and solely impacts the trading venue. “The CMLS ticker remains the same and it does not affect the company’s operations. Cumulus remains focused on executing its strategy and driving long-term growth.”
sworn in. According to the report, Levin will join ex-NYPD detective and former “Don Imus” show contributor Bo Dietl, South Carolina Governor Henry McMaster, and Florida State Senator Joseph Gruters. President Trump posted to Truth Social: “Under Secretary of Homeland Security Kristi Noem’s leadership, HSAC will work hard on developing new Policies and Strategies that will help us secure our Border, deport Illegal Criminal Thugs, stop the flow of Fentanyl and other illegal drugs that are killing our Citizens, and MAKE AMERICA SAFE AGAIN.” 
a budget crunch – the company has been eliminating positions at stations across the country. He says he didn’t have “an inkling” that his job was at risk, “I probably should have. Radio is really tough now.” Gordon has been a host on the morning show since June of 2023 and was on in afternoons six years prior to that. During his long career in Detroit, he worked as 11:00 pm news anchor at WXYZ-TV and as morning anchor on WDIV-TV. He told his listeners, “If this is the end of the career, I have no grievances. I’m Lou Gehrig without the horrible disease. I’m the luckiest man on Earth.” 
Advertiser Perceptions surveyed 301 marketers and media agencies on the sales generated by each of the five sales drivers and as they have for the past six surveys, those surveyed had an average % of perception of creative’s contribution toward driving sales around 20%. But the reality according to one study is that creative’s contribution toward driving sales is actually about 49%. Quatical principle Marc Binkley says, “Creative is the closest thing we have to a silver bullet… it’s a way to supercharge budgets. Emotional, well-branded creative is a way to be more memorable. The goal isn’t just awareness, it’s being memorable in as many buying situations as possible.” 
ABX AM/FM radio creative study for RAB proves legendary marketing professor Mark Ritson was right; 2) Wear-out of AM/FM radio ads is virtually non-existent: Only two of 25,000 ads showed a decline in some creative effectiveness metrics. Two major creative effectiveness measures, branding and messaging, showed no wear-out; 3) The two ads showing differences were at the top end of cumulative spending and time in market: Two years in market and $8M+ of spend is where creativeness effectiveness might start to wane; 4) Repeat testing of 10 of the 12 longest running AM/FM radio ads reveals no statistically significant erosion; and 5) The giants of marketing effectiveness and creative testing conclude wear-out is non-existent: Take it from Les Binet/Sarah Carter, ABX, Kantar, System1, and Analytic Partners. 
Podcasting is no longer a niche platform lacking scale. Podcasts deserve a larger role in media plans as opposed to “test and learn” experimental buys. 158 million Americans, 55% of persons 12+, are reached monthly. Among persons 18-34, 18-49, and 25-54, monthly reach is now 65% to 73%; 2) It is feasible to consider shifting TV budgets to podcasting given that podcast 18-34 weekly reach (52%) is as big as TV’s (52%); 3) Brands targeting women should give podcasts a starring role in media plans: Podcast female audiences have hit record highs in habituation and reach; 4) Among male demographics, monthly reach is now in the low 70% range; and 5) Adopt agency media legend Arnie Semsky’s “5% solution” to podcasts: Allocate 5% of digital ad budgets to podcasts. 
key findings of this edition of the study include that podcast consumption has reached an all-time high with 70% of Americans age 12+ having listened to a podcast; 51% of those Americans age 12+ having watched a podcast; 73% of Americans age 12+ having consumed a podcast in either audio or video format, representing an estimated 210 million people; and 55% of Americans age 12+ now being monthly consumers. The study also looked at in-car audio use and finds that among americans age 18+ who have driven or ridden in a car in the past month (88%), 40% have Apple CarPlay or Android Auto, and 33% actively use one of these systems. 
presenting coverage of the NCAA Division I Men’s Basketball Championship. The network will present all of the games through the National Championship on Monday, April 7. The trio of Kevin Kugler, Robbie Hummel, and P.J. Carlesimo will announce all the action for the Final Four and the National Championship.
has ended operations of news/talk KLIK-AM and its translator K278CT. The station ceased broadcasting on March 14. 
and market manager Tish Boden says, “Team Cumulus Fayetteville is excited to have Gilbert Baez join our team as the new host for ‘Good Morning Fayetteville’ on WFNC News Talk. When you say the name Gilbert Baez in the market it is synonymous with news. I look forward to Gilbert’s success on Good Morning Fayetteville.” WFNC program director Kelvin Culbreth adds, “Gilbert Baez brings a deep desire to report the news and a true sense of devotion to Fayetteville, Fort Bragg, and Cumberland County. He’ll bring his wealth of knowledge about our area and his vast cache of connections. We have heard, ‘Everyone knows Gilbert and Gilbert knows everyone.’ He is the perfect host to carry GMF into the future.”
is a mistake. Some of the findings include: 1) In a typical day, ad-supported digital audio reaches less than a third of America while AM/FM radio reaches two-thirds of America. Combined, ad-supported digital audio and AM/FM radio reach 74% of the U.S. daily; 2) Between ad-supported Spotify and AM/FM radio, most people only listen to AM/FM radio; 3) Between ad-supported Pandora and AM/FM radio, most people only listen to AM/FM radio; 4) The U.S. ad-supported audio clock: Podcasts and AM/FM radio represent nearly 90% of tuning minutes; 5) With a towering in-car share of 86%, AM/FM radio is the primary way to reach consumers on the path to purchase; The proportion of AM/FM radio in-car listening has surged, returning to pre-pandemic norms. 
announced the news on-air on Tuesday. Murphy is one half of the “Murph and Markus” show. Murphy tells SFGate, “I’ve just really enjoyed my time talking to the Bay Area every morning and talking to my partners – whether it was 
Broadcasting the matches will be WPRO-FM personalities Nick Giuliano and Tommy Quinlan. In addition, Rhode Island sportswriter and columnist Kevin McNamara will host a new feature to air on the station every Thursday at 6:20 pm throughout the season titled, “Extra Time with Rhode Island FC.” Cumulus RVP and market manager Holly Paras says, “We are thrilled to continue and expand our broadcast partnership with Rhode Island FC. It’s an exciting time for Rhode Island soccer fans, especially with the opening of the new stadium this year. We look forward to a great season.”
with more than 250 affiliate stations. Coglianese comments, “I am beyond thrilled to be stepping into this role with Westwood One and Silverloch and can’t thank my WMAL family in Washington enough for the eight incredible years we’ve already spent together. I also want to offer a special thank you to Dan Bongino for selflessly returning to service for his country. His decency and sacrifice are a true testament to his character. Now we take things to the next level. I’m deeply conscious of the history-making legacies of these broadcasts, which is why we will be delivering the ultimate three-hour live radio show and one-hour podcast for the millions of Americans who demand the truth.” Westwood One president Collin Jones adds, “Vince’s star has been on the rise, and we’re thrilled to welcome him to the unparalleled Westwood One platform to expand his reach even further. Vince’s unparalleled ability to combine realism with sharp political insight makes him the ideal host to captivate audiences across both live radio and podcasting. ‘The VINCE Show’ and ‘VINCE’ podcast will quickly become cornerstones of our industry-leading conservative talk lineup.”
includes sports talk KBBG-AM “The Champ” and four music brands. He most recently served with Walnut Media in Omaha. As director of sales. Cumulus Media president of operations Bob Walker says, “We are excited to welcome Adam to Cumulus Des Moines as this is a homecoming for him, having grown up in Des Moines and being a fan of our brands. Adam is an accomplished leader that is passionate about connecting local clients to the power of radio and the digital products we offer to help them grow their business.”
the “Private Economic Council” – a Washington, DC-based organization composed of “influential business leaders, entrepreneurs and economists promoting free market tax policies, advocating for taxpayers, and helping to support and promote President Trump’s economic agenda.” It also includes former Trump senior economic advisor and former member of the Wall Street Journal editorial board Steve Moore, Papa John’s founder John Schnatter, and former U.S. congressman and current Liberty University School of Business Dean Dave Brat.
were three or four minutes. Under the old five-minute listening qualifier rule, none of this tuning would have received listening credit. Effective with the January 2025 PPM survey, Nielsen is now crediting tuning occasions that are three minutes or greater. What are the results so far? First, drive times and weekends experience the greatest growth. Comparing January 2024 to January 2025 for persons 12+ and 25-54 reveals double-digit growth for all dayparts. Weekends and drives times have the greatest increases. Second, AM/FM radio’s listening profile now skews younger: Every major buying demographic has a higher composition of listening. Persons 65+ is the only demographic where AM/FM radio’s audience composition is reduced. Persons 25-54, AM/FM radio’s most popular buying demographic, experiences the largest increase in audience composition. Persons 18-49 have the next largest growth. And third, format shares remain stable. Versus October 2024, PPM January 2025 format shares are very consistent. An uptick in news/talk AQH composition is most likely more due to a heavier news cycle (major weather stories and a new president) than a PPM methodology enhancement. In local markets, there is more share variation. 
impairment charge of $224.5 million compared to a pre-tax non-cash impairment of $65.3 million in 2023, both primarily reflecting FCC-related charges.” Cumulus president and CEO Mary G. Berner states, “Since the pandemic’s onset, the radio industry has experienced tough economic and secular headwinds. In the face of those, we outperformed our peers through the end of 2023 on key metrics including cost takeouts, EBITDA 
margin recovery, free cash flow generation, net leverage, and liquidity. 2024 brought additional challenges, including accelerated national headwinds as well as an industry-wide slowdown in local radio advertising. In response, we doubled down on investing in growth areas, particularly in our digital marketing services business, which is pacing up 30% in Q1. Additionally, we continued evolving our broadcast go-to-market strategies, including with new offerings that are successfully attracting large new broadcast clients, and we drove additional cost efficiencies with 2024 actions that will result in $43 million of annualized fixed cost savings, of which $15 million benefited 2024 with the balance in 2025. Though the industry environment remains challenging for now, our 2024 refinancing efforts provided us with the time needed to both execute our day-to-day blocking and tackling and, in parallel, continue to reimagine the ways in which we can get the most out of our key assets to create new revenue streams and build additional long-term value.”
by a political appointee instead of a career agent. The role of the deputy director is to oversee the day-to-day operations of the bureau’s law enforcement. The Journal also reports that new FBI director Kash Patel had “offered Republican senators private assurances that he would name a special agent with bureau experience” in order to provide “operational expertise and experience.” The FBI Agents Association has made no public statement so far. Cumulus Media issued the following statement: “We extend our heartfelt congratulations to Dan Bongino on his decision to take on the role of deputy director of the FBI. Dan has entertained and informed tens of millions of listeners every day and we are grateful for our successful partnership. We look forward to welcoming Dan back in the future. We truly value our audience, advertisers, and affiliates and remain dedicated to bringing them the next exciting chapter for this programming soon. Dan’s last show will be Friday, March 14.”
12 years with the station. A report in The Chattanoogan says that Joyce, who hosted the late morning “Brian Joyce Unfiltered” program, “parted ways” with the station last week. Joyce joined WGOW in 2012 and became part of the morning drive show in 2018, alongside Jim Reynolds and Kevin West. In 2023, Cumulus retooled the morning show bringing Jed Mescon aboard to co-host with Reynolds and Joyce moved to the late morning slot. 
managed Cumulus’ Shreveport and Bossier City, Louisiana stations. Welling takes over for the retiring Chris Monk. Cumulus president of operations Bob Walker says, “We are thankful to Chris for the strong foundation he has built for our clusters in Flint and Saginaw and wish him all the best in his retirement. As we look to the future, we are excited to welcome Cody back to Cumulus to take our powerful brands to the next level. Cody is a passionate broadcaster who is dedicated to helping local businesses connect with our audiences and fully leverage the opportunities our traditional and digital assets provide.”
City. Cumulus Media chief content officer Brian Philips states, “Pete has risen to stardom quickly with his on-air performance and innovative program architecture in Kansas City. Pete is among our most dynamic leaders, in ANY format. It also matters that Pete is Bill Hess’ hand-chosen successor, as Bill returns to oversight of our news/talk flagship WMAL, in the nation’s capital. Bill has served with distinction in this corporate role, and Cumulus news/talk is positioned for continued success under Pete’s leadership.” Mundo comments. “I’m thrilled for the opportunity to join the content leadership team at Cumulus and am grateful for the confidence that the company has shown in me. Learning from Bill Hess in recent years has been a terrific way to make the transition seamless. The news/talk format is changing rapidly but remains dominant in the audio industry. The format has exceptional upside during this transitional political period, as people continue to seek news and information about their cities, states, and country. I am eager to work with my fellow news/talk programmers across the nation to make our brands stronger.”
pm to 1:00 am slot. Additionally, the company says the show adds 25 new affiliate stations, including WMAL-AM/FM, Washington; KSEV-AM, Houston; and KKAT-AM, Salt Lake City. Valdés comments, “Thank you, Jesus! I’m super excited to be on all of these new stations in great cities, and welcome all of our new listeners to join our live late-night national town hall conversation and encourage them to call in on Open Phone across America.”
management background and expertise complement the diverse strengths and wide-ranging capabilities of our existing board, and we are excited to leverage his vision and insights to drive growth and capitalize on new opportunities.” Galbraith is currently a managing member of Kindred Capital Advisors LLC, and is among the largest shareholders of Cumulus through his personal holdings and those held through Kindred.
did editorials on WFAA-TV, Dallas for six years. Krok shared the following message via his social media: “It’s been an amazing 15-year run at the biggest news/talk station in America’s 4th largest market. We’ve gotten to know each other so well, and I can’t wait to share the airwaves again, doing what God made me to do – tell stories, react to life, and have fun together.” Krok tells TALKERS that he has a nice home studio where he fills in on network and local shows. He says he’s available for fill-in work and is ready to talk about his next opportunity. Reach him at: 
Metrics and “Share of Ear” Report, MRI-Simmons, Screen Engine/ASI, Podscribe, and Magellan AI. Four of the key findings from this are: 1) Podcast ad campaigns are too light: No brand is coming close to “saturating” podcast audiences; Brands should allocate 5% of digital budgets to podcasting; 2) After five years with a median age of 33 to 34, podcast audiences finally age to 36, reflecting broader appeal with older audiences; 3) Screen Engine/ASI: Podcast audiences offer CTV advertisers significant incremental reach; and 4) Podcasts tighten their grip on audio audiences: Among podcast listeners, 35% of all audio time spent now goes to podcasts. 
personality Tom Tolbert – who co-hosted the “Tolbert & Copes” show with Adam Copeland – and midday personality John Lund – co-host of “Papa and Lund” are both out. Additionally, 
the Cumulus Media news/talk station on November 7. Sutton began working full time at the station in 1997. He tells WHTM that he does not plan on retiring. “Tomorrow is the first time in 52 years that I don’t have to work, but I hope that doesn’t last long because I am not retiring. God is in control, and I know there are new opportunities ahead and a new chapter in my life.” Sutton says he and producer Mark McKenzie were dismissed due to budget cuts. 
number of retailers shopped, retailers shopped most often, brand perceptions, and advertising recall have recovered; 2) Brand equity and shopping patterns for the top two performers (AutoZone and O’Reilly Auto Parts) are stable to up. The second-tier players are slightly off; 3) AM/FM radio and podcasts are the ideal platforms to advertise auto aftermarket. TV underperforms with category usage and brand equity: Heavy AM/FM radio and podcast listeners visit more retailers in the category, make more shopping trips, and spend far more than the average. Two key consumer segments, do-it-yourselfers and ultra-heavy shoppers are more likely to be heavy AM/FM radio listeners. TV viewers are weak category users.