Urban One Reports Q4 Revenue Decline, Wider Loss

RADIO ONLINE | Thursday, March 12, 2026 | 11:47am CT

Urban One

Urban One reported lower revenue and a wider loss in the fourth quarter of 2025, reflecting weaker advertising demand and the absence of political advertising seen in the prior year. For the three months ended December 31, 2025, the Silver Spring, MD-based media company posted net revenue of $97.8 million, down 16.5% from $117.1 million in the fourth quarter of 2024.

The company recorded an operating loss of $54 million, compared with an operating loss of $1.9 million in the same quarter a year earlier. Net loss totaled $54.4 million, or $12.24 per share, compared with a net loss of $35.7 million, or $7.81 per share, in the prior-year period. Adjusted EBITDA declined to $15.6 million from $26.9 million.

Broadcast and digital operating income fell to $23.8 million, down 38.3% year-over-year.

Urban One said radio broadcasting revenue dropped to $35.1 million from $47.7 million, driven largely by the absence of $8.8 million in political advertising and softer national and local ad demand. Cable television revenue also declined, falling to $34.9 million from $42.0 million, due to subscriber churn and weaker ad sales. Digital revenue decreased to $14.7 million from $18.3 million, while Reach Media revenue increased to $13.8 million from $9.6 million, helped by event revenue tied to the Fantastic Voyage Cruise.

For the full year, Urban One reported net revenue of $374.4 million, down from $449.7 million in 2024, while Adjusted EBITDA fell to $56.7 million from $103.5 million.

CEO Alfred C. Liggins III said the company faced a "tough fourth quarter" due to soft radio markets, declining cable TV audience delivery and the lack of political advertising, though he noted improved cable ratings in early 2026 following a change in Nielsen measurement methodology.

During the quarter, Urban One also completed a debt exchange and refinancing that extended maturities and reduced outstanding 2028 notes, moves the company said will help stabilize its capital structure and support continued efforts to reduce debt.