Urban One Reports Q4 ’24 Net Revenue Down 2.7%
Urban One, Inc reports its operating results from the fourth quarter of 2024 and reveals net revenue was approximately $117.1 million, a decrease of 2.7% from the same period in 2023. The company reported an operating loss of approximately $1.9 million for the quarter, compared to operating income of approximately $6.8 million for the three months ended December 31, 2023. Broadcast and digital
operating income was approximately $38.6 million, an increase of 1.7% from the same period in 2023. Net loss was approximately $35.7 million for the quarter, compared to net loss of $11.0 million for the same period in 2023. Urban One CEO and president Alfred C. Liggins, III states, “Our Adjusted EBITDA of $103.5 million came in at the mid-point of guidance, helped by strong political advertising revenues in the radio division. The radio outperformance was offset by declines in both advertising and affiliate revenues at the cable TV segment, as audience delivery continued to underperform expectations. We are however seeing some stabilization in the first quarter cable TV delivery, which should help to mitigate the continuing decline of linear TV subscribers. First quarter core radio revenue demand weakened, with pacings down 13.6%, although the second quarter is showing signs of improvement, with core pacings currently down 1.7%.”
in 1981. He eventually rose to become president of the radio division in 2002, overseeing more than 20 radio stations. In 2008, he became president of programming for Emmis’ domestic radio group. Cummings comments, “Save my immediate family, nothing has given me more joy in life than working for Jeff (Smulyan) and Emmis. This company has afforded me extraordinary professional and personal opportunities, here and abroad, that no kid from rural Indiana could ever have imagined. I am eternally grateful for this and the future as Emmis allows me to continue in a consulting role. As I told Jeff, ‘I’ll work for you until they carry one of us out!’”