Tuesday, May 9, 2017

Radio One, Inc. Changes Name To 'Urban One'

Commemorating the 18th anniversary of its IPO on May 5, the only integrated, multimedia company focused on Black culture, Radio One, Inc., is changing its name to Urban One, Inc. Reflecting its longstanding, rich history as the most trusted source to inform, entertain and inspire the African-American community, Urban One will continue to provide culturally relevant integrated content through its iconic brands and platforms – TV One, Radio One, Reach Media, iOne Digital and One Solution.

"More than 35 years ago, we proudly began representing Black culture by lifting our voices boldly, courageously and unapologetically," said CEO Alfred C. Liggins III. "Urban One's mission is to enhance and maintain our position as the largest distributor of urban content in the country."

Urban One is the only multimedia company reaching 82 percent of Black America. The leading voice speaking to Black America, Urban One is committed to serving its multimedia audiences, as well as offering its advertisers and community partners deeper consumer engagement solutions. Through its various platforms, Urban One is national in reach and local in impact resulting in 59 million households, 22 million listeners, 40 million video streams, 20 million unique visitors and 5 million app starts.

Expansive television and digital networks, nationally syndicated programs and its community-based local radio markets comprise Urban One's portfolio as the country's largest distributor of urban content:
  • TV One: The Largest African-American Owned Television Network
  • Radio One: The Largest African-American Owned Local Urban Radio Network
  • Reach Media: The Largest Syndicator of Urban Programming
  • iOne Digital: The Largest Distributor of Digital Urban Content
  • One Solution: Urban One's Award-Winning Branded Solution Division
In addition, Urban One is following its national and local radio footprint with R1 Digital, a recently established digital portfolio devoted to creating relevant, inventive and useful marketing and interactive solutions to help brands navigate the deeply rooted urban culture.

Also on Monday, Urban One reported first quarter net revenues of $101.2 million, down from $109 million in 2016. The company's radio broadcasting unit saw Q1 net revenues decrease to $39.7 million from $42.7 million, while Reach Media net revenues fell to $7.6 million from $10.4 million. Digital fell $5.5 million from $6.4 million. Urban One posted a net loss of $2.3 million (5 cents per diluted share) as compared to a loss of $3.9 million (8 cents) in the year-ago period.

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