Urban One, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsUrban One, Inc. is a diversified urban-oriented media company whose core radio broadcasting franchise is supplemented by cable television, digital, and syndicated programming operations.
What they do
Urban One operates the largest radio broadcasting group targeting African-American and urban listeners, with 76 stations in 13 markets. It also owns TV One and CLEO TV cable networks, an approximately 94.6% stake in Reach Media (syndicated radio shows), and Interactive One (digital platforms). Revenue comes primarily from advertising sales and cable affiliate fees.
Revenue drivers
- Cable Television — Largest segment at 42.4% of 2025 revenue; generates advertising and affiliate fees from TV One and CLEO TV.
- Radio Broadcasting — 37.2% of 2025 revenue; primarily local and national advertising; local advertising made up 63.4% of core radio revenue in 2025.
- Digital — 12.8% of 2025 revenue; advertising from Interactive One websites such as Bossip, HipHopWired, and MadameNoire.
- Reach Media — 8.3% of 2025 revenue; advertising from syndicated shows including Rickey Smiley Morning Show and DL Hughley Show.
Recent performance
For Q2 2026, net revenue was $85.8 million, down 6.4% year-over-year. The company reported an operating loss of $11.2 million and a net loss attributable to common stockholders of $7.1 million ($1.58 per share). Adjusted EBITDA was $11.7 million, down from $14.0 million in Q2 2025. For full-year 2025, revenue fell 16.7% to $374.4 million, with a net loss of $146.9 million.
Strategy
Management aims to grow market share, improve audience share and revenue conversion in certain markets, and execute a multimedia strategy to diversify revenue. In 2026, it completed a refinancing, repurchased $23.5 million of its 2031 Second Lien Notes in Q2, and disposed of two Charlotte radio stations (WLNK and WMXG). The company is rebuilding the Reach Media sales team and managing cash flows closely.
Risks
- Nasdaq delisting risk — After a 1-for-10 reverse stock split in January 2026, the company regained compliance but cannot use another reverse split to cure a future bid-price deficiency.
- High leverage and cash constraints — Long-term debt was $399.3 million as of June 30, 2026, with cash of only $15.4 million and ABL borrowings of $20.0 million.
- Declining revenue and impairments — Revenue fell 16.7% in 2025; a $13.9 million goodwill impairment at Reach Media was taken in Q2 2026 due to deteriorating conditions.
- Political advertising volatility — Political advertising revenue dropped 93.0% in 2025 (to $1.4 million) from 2024's $20.4 million, highlighting non-political revenue dependence.
Outlook
Management reduced its 2026 Adjusted EBITDA guidance to the mid-fifty-million dollar range, citing marketplace realities. For Q3 2026, radio revenue is pacing down 2.8%. The company expects continued turnaround efforts at Reach Media and ongoing management of cash flows and debt reduction.