Business
URBAN ONE, INC. REPORTS FOURTH QUARTER 2024 RESULTS
Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the three months ended December 31, 2024. For the three months ended December 31, 2024, net revenue was approximately $117.1 million, a decrease of 2.7% from the same period in 2023. The Company reported an operating loss of approximately $1.9 million for the three months ended December 31, 2024, compared to operating income of approximately $6.8 million for the three months ended December 31, 2023. Broadcast and digital ope
About this update from Urban One, Inc.
[{"type":"text","content":"SILVER SPRING, Md., March 27, 2025 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the three months ended December 31, 2024. For the three months ended December 31, 2024, net revenue was approximately $117.1 million, a decrease of 2.7% from the same period in 2023. The Company reported an operating loss of approximately $1.9 million for the three months ended December 31, 2024, compared to operating income of approximately $6.8 million for the three months ended December 31, 2023. Broadcast and digital operating income1 was approximately $38.6 million, an increase of 1.7% from the same period in 2023. Net loss was approximately $35.7 million or $(0.78) per share (basic) for the three months ended December 31, 2024 compared to net loss of $11.0 million or $(0.23) per share (basic) for the same period in 2023. Adjusted EBITDA2 was approximately $26.9 million for the three months ended December 31, 2024, compared to approximately $27.1 million for the same period in 2023.","length":1103,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Urban One, Inc.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Urban One, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":225,"url":"https://media.zenfs.com/en/prnewswire.com/fa438b8335b763ee10fdaa573bad39ec"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nhi1JLDn2jOo6.CyFaBu.A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM5NztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/fa438b8335b763ee10fdaa573bad39ec","width":400,"height":225}},"href":"https://mma.prnewswire.com/media/509218/Urban_One_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Alfred C. Liggins, III, Urban One's CEO and President stated, "Our Adjusted EBITDA of $103.5 million came in at the mid-point of guidance, helped by strong political advertising revenues in the radio division. 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. We are however seeing some stabilization in the first quarter cable TV delivery, which should help to mitigate the continuing decline of linear TV subscribers. First quarter ...