Urban One reported Q1 2022 revenue of $112.3 million, an increase of 22.9% from Q1 2021.
CEO Alfred Liggins was happy with the performance of every Urban One division. “We had extremely strong first quarter performance across the platform, with advertising revenues up double-digit percentages in all of our operating segments.”
Radio advertising, excluding political and digital, was up 17.4%, digital jumped 49.5% and cable TV ad revenue was up 46%.
Liggins added that Q2 core radio advertising is pacing up mid-single digits, as the company starts to lap the tougher comps from 2021. “Our balance sheet continues to strengthen, with $166.4 million of cash and net leverage down to 4.07x.”
