Despite a continued net loss and 15.8% year-over-year revenue decline, with losses deepening across every division, the mood throughout Urban One’s Q1 earnings call bordered on jocular as CEO Alfred Liggins focused on ongoing debt-reduction efforts.
Urban One posted a net loss of $3.1 million for the quarter, an improvement from the $11.7 million net loss in Q1 2025, with interest expense falling to $4.4 million from $10.9 million on the back of the company’s retiring of more than $60 million in debt. Quarterly net revenue was $77.7 million, down from $92.2 million in 2025.
“First quarter revenue was soft across all divisions,” Liggins said. “We had budgeted for a down-quarter in our Radio and TV divisions, but not at Reach Media and Digital.”
Radio Broadcasting revenue came in at $30.5 million, down 6.4% year-over-year, or 8.7% excluding political. Digital revenue fell 33.5% to $6.8 million.
According to Miller Kaplan, Urban One’s local ad sales declined 5.5% against a market that fell 7.1%, but national was down 8.2% against a market down 6.7%. That pain was felt particularly by Reach Media, which posted $4.9 million in revenue, off 17% from the prior year, generating a segment loss of approximately $500,000. Liggins characterized it as “a turnaround situation,” with the division absorbing simultaneous pressure from a weak network marketplace, key client attrition, and a sales team rebuild still in progress.
As for the sharp digital downturn, Urban One CFO Peter Thompson attributed the drop to reduced DEI-focused advertiser spending, budgets pushed to the second half, and broader macro pullback. Local digital was the exception, up 10.9% as the company continues building out that sales capability.
Cable television revenue was $36 million, down 18.5%.
As for balance sheet work, year-to-date, total long-term debt has been reduced by $60.2 million, producing $4.6 million in annual interest savings, with gross debt now just over $300 million. Station sales and acquistions are working in tandem. Urban One agreed in April to acquire Dallas stations KKDA and KRNB from Service Broadcasting Group for $22 million, while simultaneously selling KZMJ to Fuzion Dallas for $6 million.
In Charlotte, WMXG and WLNK are being sold for $700,000 and $4.2 million respectively.
