CEO Alfred Liggins said, “Our Q2 radio performance was in line with expectations.” While markets Urban One operates radio stations in were down 3.3%, Urban One stations were down 3.5%. The Atlanta market was down 11%.
Top-performing markets for the company were Cincinnati, Cleveland, Dallas, and Detroit. The top-performing categories were Government, Automotive, and Health Care. Retail, Telecommunications, and Food and Beverage were weak. The company also reported Reach Media net revenue declined 6 1/2%, which was blamed on a declining audience for The Tom Joyner Morning Show.