MediaCo Holding Inc., the New York-based multicultural media powerhouse behind HOT 97, WBLS, and EstrellaTV, reported blockbuster year-to-date net revenue of $94.7 million for the third quarter ended September 30, 2025—a staggering 51% surge from the prior year, fueled by the April 2024 acquisition of Estrella Media's assets and explosive digital growth.
This marks the company's strongest nine-month performance ever, with Adjusted EBITDA flipping to a positive $5.0 million (up from a $2.5 million loss last year), highlighting disciplined cost controls and synergies across its audio, video, and streaming platforms.
However, the quarter wasn't without headwinds: MediaCo swung to a $33.9 million net loss for the nine months (vs. a $2.9 million profit in 2024), primarily dragged down by a $7.3 million non-cash charge from changes in the fair value of warrant liabilities. For Q3 alone, revenue climbed 18.5% to $35.4 million, but net income flipped to a $17.9 million loss from last year's $54.9 million profit, again tied to that warrant adjustment. Digital revenue hit a record $17 million YTD—now representing 49.2% of total ad sales, the highest in the industry—while video and broadcast segments also posted double-digit gains.
Driving the Surge: Acquisitions, Ratings, and Digital Pivot
- Ratings Rocket Fuel: HOT 97 crushed September with its highest-ever 17,300 average quarter-hour listeners among Adults 18-49 in prime (up 68% YoY), ranking #4 in New York. WBLS and EstrellaTV also posted gains, with Estrella up 29% in Adults 18-49 for early-season primetime.
- Digital Dominance: Ad sales via apps, podcasts, and streaming jumped, with expansions like HOT 97 on HD2 channels in LA, Dallas, and Houston, plus a new TV launch in Atlanta via WHOT-TV.
- Cost Discipline: Lower corporate expenses post-acquisition helped margins, with synergies expected to yield further savings in 2026.
CEO Albert Rodriguez, newly elected to the Board as a Class II Director, framed the results as a launchpad for "growth mode": "We continued to execute at a high level... driving substantial revenue growth, including a surge in digital revenue... [and] are well positioned to drive growth in our revenues, cash flows, and margins." The company also promoted CFO Debra DeFelice to Executive Vice President, signaling internal momentum.