Urban One Inc. reported net revenue of about $88 million for the third quarter, down 5% from the same period last year, as lower digital and cable television revenue outweighed growth in its radio division.
The company reported an operating loss of about $126.6 million for the three months ended Sept. 30, compared with operating income of about $2.5 million a year earlier. Net loss attributable to common stockholders was about $119.2 million, compared with a net loss of $2.8 million.
Broadcast and digital operating income was about $19.4 million, down $500,000 from a year earlier. Adjusted EBITDA was about $12.3 million, compared with about $14.2 million.
Radio revenue rose to $36.7 million from $34.7 million, helped by the acquisition of KKDA-FM and KRNB in Dallas and political advertising. The increase was partly offset by weaker demand from national and local advertisers.
Reach Media revenue fell $1 million to $5.1 million, which the company attributed to lower demand and a decline in the overall network audio market. Digital revenue dropped to $9.6 million from $12.7 million, driven by reduced spending on diversity, equity and inclusion-focused campaigns and lower effective rates, the company said.
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| Liggins |
“Market conditions in radio continued to adversely impact revenue in the third quarter,” President and CEO Alfred Liggins III said. The company received more than $800,000 in net political revenue during the quarter, and the Dallas stations, acquired effective July 17, contributed an additional $1.9 million in net revenue, he said.
Liggins said full-year net political revenue is expected to be $8.8 million across all divisions. Weak demand in the cable TV scatter market shifted more inventory to the direct-response category at lower rates, he said. Local digital revenue in the company’s radio markets increased, but client losses and suppressed rates in national direct digital revenue led to a significant decline in the digital segment.
Urban One lowered its 2026 adjusted EBITDA guidance to $40 million, citing current advertising market conditions. Management is focused on cost reductions and has identified at least $20 million in annualized savings, Liggins said.