Urban One Reports Revenue Drop, Narrowing Loss

Urban One, Inc. reported its financial results for the three months ended March 31, 2025, on May 13, 2025. 

The company recorded net revenue of approximately $92.2 million, a decrease of 11.6% from $104.4 million in the same period of 2024. 

The company reported an operating loss of approximately $7.6 million, compared to an operating income of $12.9 million in the first quarter of 2024. Broadcast and digital operating income was approximately $26.8 million, down 16.3% from $32.0 million in the prior year. 

Alfred Liggins

The net loss was approximately $12.3 million, or $0.26 per share (basic), compared to a net income of $7.5 million, or $0.15 per share, in the first quarter of 2024. Adjusted EBITDA was approximately $15.8 million, a 26.8% decrease from $21.5 million in the same period of 2023.

Key segment performance included:

• Radio Broadcasting: Revenue was approximately $34.8 million, down from $36.4 million, primarily due to a 12.4% decline in core radio advertising, partially offset by the Houston station acquisition completed in August 2023.
• Reach Media: Revenue was approximately $7.9 million, compared to $8.5 million, reflecting reduced advertiser demand.
• Digital: Revenue was approximately $12.7 million, down from $14.0 million, driven by weaker national market digital sales.
• Cable TV: Continued to face challenges from subscriber churn and audience delivery shortfalls, impacting advertising and affiliate revenues.

CEO Alfred Liggins III noted that first-quarter results met expectations, with political advertising expected to boost radio and digital segments later in 2025. The company repurchased $25.0 million of its 2028 Notes at 67.8% of par in the quarter, reducing the outstanding balance to $542.6 million. Capital expenditures were approximately $1.6 million, and cash and cash equivalents stood at $112.0 million as of March 31, 2025. Urban One emphasized cost containment and deleveraging as priorities for 2025.