Having already published a broad painting of its first quarter performance, MediaCo filed its first quarter 2025 earnings with the SEC after a brief delay, revealing the brushstrokes of its full integration of Estrella Broadcasting – including a dramatic revenue increase.
The broadcaster reported $28.03 million in revenue for the quarter ending March 31, up from $6.71 million in Q1 2024, reflecting a more than fourfold jump year-over-year. But while the Estrella acquisition expanded MediaCo’s revenue base, it also contributed to a sizable rise in expenses, resulting in a deeper net loss of $8.61 million for the quarter.
The Q1 results mark the first reporting period to incorporate Estrella’s 12 radio and 10 television stations, which were acquired in a stock-for-ownership transaction finalized in February. Estrella’s Spanish-language radio brands Que Buena, La Raza, and La Ranchera have added scale across major Hispanic markets in Los Angeles, Houston, and Dallas, and helped drive strong growth in spot and digital ad sales.
Spot radio and TV advertising was MediaCo’s largest revenue category, totaling $16.03 million and representing 57% of total revenue, up from $4.35 million a year ago. Digital advertising brought in $9.54 million, or 34% of the quarter’s revenue, compared to $862,000 (13%) in Q1 2024. The remaining 9% came from syndication, events and sponsorships, and other revenue streams.
But the expanded footprint came at a cost. MediaCo’s total operating expenses nearly tripled year-over-year to $32.71 million, with operating losses widening to $4.68 million from $3.47 million a year earlier. Interest expense also surged to $3.75 million, up from just $136,000 in Q1 2024, driving the company’s net loss to $8.61 million.
As for the future, MediaCo is expanding its multiplatform strategy with a focus on free, ad-supported content targeting Hispanic and Black audiences.
At the IAB NewFronts, Interim CEO Albert Rodriguez announced the launch of a dedicated FAST channel for HOT 97 (WQHT), featuring 24/7 hip-hop content including Ebro in the Morning, Summer Jam Live, and new video formats for Nessa On Air, Funk Flex Freestyles, and Bridging Cultures. The company also previewed its upcoming EstrellaTV programming slate, which includes a live, multiplatform version of Don Cheto Al Aire, a revamped Tengo Talento, Mucho Talento: Nueva Era, and live Tigres Liga MX soccer coverage.
In addition to programming, MediaCo unveiled new distribution and advertising partnerships to strengthen its reach.
These include expanded FAST carriage for Curiosity Stream’s Spanish-language content, ad sales support for Hemisphere Media FAST channels, and new EstrellaTV affiliates in Boston, Colorado, and Texas.
