Cumulus Reports $32.4M Q1 Loss Amid Tariff Headwinds

RADIO ONLINE | Thursday, May 1, 2025

Cumulus Media

Cumulus Media reported a net loss of $32.4 million for the first quarter of 2025, more than double the $14.2 million loss from the same period a year earlier, as ongoing economic pressure and new tariffs weighed on advertiser sentiment.

"For the first quarter, we delivered revenue in line with pacing guidance despite worsening economic headwinds," said President and CEO Mary G. Berner. "What remains constant is our relentless focus on actions to mitigate the impacts of the macro environment."

The company posted total net revenue of $187.3 million, a 6.4% year-over-year decline, and recorded Adjusted EBITDA of $3.5 million, down from $8.4 million in Q1 2024. Broadcast radio revenue declined 10.6% to $124.9 million, with both spot and network segments down by the same percentage.

Digital revenue, however, increased 6.1% to $36.6 million and accounted for 20% of total revenue. Excluding the loss of its relationship with The Daily Wire, digital revenue rose 20.4%. The company's digital marketing services arm saw the strongest growth, up 30% over the prior year due to investments in sales, support, and fulfillment. Streaming revenue increased 4%, while podcasting declined 13%-though it rose 39% excluding the Daily Wire impact, driven by new and growing shows.

Cumulus also reported $7.5 million in annualized fixed cost reductions for the quarter.

Berner emphasized the company's focus on transformation, saying, "We will continue to execute these strategies while simultaneously working to fundamentally transform the way we use and leverage our key assets."

As of March 31, 2025, Cumulus reported $52.7 million in cash and total debt of $670.2 million, with $642.1 million due at maturity and $589.4 million in net debt excluding unamortized discounts.