On a same-station basis, Urban One’s radio revenue increased 4.2% in Q3, 5.5% excluding political. CEO Alfred Liggins said he was “pretty happy with the radio division’s performance.”
National was up 4.3% while local was down 2.1%. Reach Media was flat for the quarter while digital dropped 6.6%. Retail, Entertainment, Financial Services, and Food and Beverage were strong categories for Urban One, while Automotive, Health Care, and Telecom were all flat.
Q4 is pacing down in the low single digits and Liggins says for the next year the company will be focused on reducing debt and working to refinance.