Urban One’s radio division served as the company’s standout performer in the fourth quarter of 2024, helping to offset deeper challenges, particularly in cable television, as the media group posted a $35.7 million net loss for the period, compared to a net loss of $11.0 million for the same period in 2023.
The company cited lower net revenue, increased impairment charges, and a higher tax provision as contributing factors to the quarterly loss.
Q4 net revenue totaled approximately $117.1 million, down 2.7% from $120.3 million in Q4 2023. The company reported an operating loss of approximately $1.9 million for the quarter, compared to operating income of $6.8 million in the prior year.
Urban One President and CEO Alfred C. Liggins III said the company’s performance was supported by strong political advertising in its radio division, but, “The radio outperformance was offset by declines in both advertising and affiliate revenues at the cable TV segment, as audience delivery continued to underperform expectations.”
The radio broadcasting segment led the quarter with $47.7 million in revenue, up from $41.7 million year-over-year. Reach Media contributed $9.6 million in revenue, a slight decline from $10.8 million in Q4 2023. Digital operations brought in $20.5 million, down marginally from $21.2 million, while cable television experienced a steeper drop to $39.8 million from $47.3 million.
The company incurred $24.2 million in Q4 impairment charges, up from $5.0 million in the prior-year quarter.
Urban One’s full-year net loss reached $104.2 million, compared to net income of $4.6 million in 2023. Annual net revenue declined 5.8% to $449.7 million from $477.7 million, while full-year operating loss widened to $75.7 million from $31.6 million.
The digital segment posted strong results in Q4, with Adjusted EBITDA rising 50.7% year-over-year. “Cost containment and continued de-levering remains the focus for 2025, and the company remains in a strong position in terms of liquidity, with $137.1 million of cash and cash equivalents at year-end,” Liggins said.
Liggins added that early signs in Q1 2025 point to some stabilization in cable delivery. However, core radio revenue pacings are currently down 13.6% for Q1, though Q2 is tracking slightly better with pacings down just 1.7%.
