During “unprecedented work conditions,” Urban One rallied in the 4th quarter of 2020 to post a better year than it had in 2019. With $11.5 million in Q4 revenue, Urban One posted a 7.3% gain, the first positive quarterly revenue number we’ve seen from a radio company in a long time.
Q4 revenue of $113.5 was up 23.5% from Q3 in 2020 showing that radio’s momentum is continuing. Even through Urban One’s radio division was down 3.2% in Q4, when compared to Q4 2019, it was up 37% from Q3 2020, which was down 32% from Q3 2019.
In Q4 local radio is still lagging, down 13.7% in Q4 at Urban One. All categories were down in the quarter with the exception of Government.
Q1 2021 is pacing down about 20% with March looking the strongest, only down 2%. January and February of 2020 were pre-COVID months as March is really the month businesses started to shut down.
Urban One’s digital division was up 70% with over $1 million spent on Urban One’s digital products in the quarter.
