Urban One CEO Alfred Liggins said the vast majority of COVID effect is behind us when he opened up his earnings call Thursday morning. He also said there is significant interest in the Urban One platform from major advertisers which is impacting Urban One’s business.
Urban One’s Q2 revenue increased nearly 42% in the quarter to $107.6 million. Radio was up 73% with local jumping 109% and national up 37%. Reach Media was up over 50% and digital revenue added $9 million more in revenue than it did a year ago.
All categories increased according to CFO Peter Thompson, Government, Telecom, Retail and Auto all saw gains for the company. CEO Alfred Liggins said the economy is clipping along at a nice pace and we have the wind at our backs.
Regarding the Richmond casino the company hopes to build, CEO Alfred Liggins said the next step is to get the issue on the ballot this fall and the courts have until August 13th to do that. The Richmond City Council has already voted to approve the casino
