Urban One, Inc. reported a significant decline in financial performance for the second quarter of 2025, with net revenue falling to $91.6 million, a decrease of 22.2% from $117.7 million in the same period of 2024. For the first half of 2025, total revenue was $183.9 million, down 17.2% from $222.2 million year-over-year. The company attributed this decline to weaker demand from national advertisers, lower event revenues, and a decrease in political advertising. The Radio Broadcasting segment, which remains a core revenue source, generated $36.7 million in the second quarter, down from $42.0 million in 2024.
The company's operating expenses also increased, totaling $212.3 million for the second quarter, compared to $178.2 million in the prior year, primarily due to a significant impairment charge of $130.1 million related to goodwill and intangible assets. This impairment was driven by declining revenues and operating profit margins across several reporting units, particularly in the Radio Broadcasting segment. The operating loss for the quarter was $120.7 million, compared to a loss of $60.4 million in the same quarter of 2024.
In terms of strategic developments, Urban One has been actively repurchasing its debt, realizing a gain of approximately $30.3 million on the retirement of debt during the second quarter. The company repurchased about $64 million of its 2028 Notes at an average price of 51.8% of par. Additionally, Urban One has increased its ownership in Reach Media to approximately 94.6% following the exercise of a put right by non-controlling interest shareholders, which is expected to enhance operational control and profitability.
Operationally, Urban One continues to face challenges, with a reported net loss attributable to common stockholders of $77.9 million for the second quarter, compared to a loss of $45.4 million in the same period last year. The company’s cash and cash equivalents stood at $85.7 million as of June 30, 2025, down from $137.1 million at the end of 2024. Looking ahead, Urban One anticipates ongoing challenges due to macroeconomic conditions, including inflation and competition for advertising revenues, but remains focused on strategic initiatives to stabilize and grow its business segments.
About URBAN ONE, INC.
Urban One, Inc. is a leading multi-media company focused on serving African-American and urban audiences. With a portfolio of 72 radio stations, cable networks like TV One and CLEO TV, and digital platforms, Urban One capitalizes on a significant market opportunity. The company targets diverse demographics through tailored content and advertising solutions. Recent initiatives include strategic acquisitions to enhance its media presence and expand audience engagement across various platforms.
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