Welcome to our dedicated page for Cumulus Media news (Ticker: CMLS), a resource for investors and traders seeking the latest updates and insights on Cumulus Media stock.
Cumulus Media Inc. (symbol: CMLS) is a prominent audio-first media company that connects with over 150 million listeners through a diverse suite of platforms including radio, digital media, targeted e-mail, and on-site promotions. As America's second-largest operator of radio stations, Cumulus Media provides high-impact local marketing solutions across 90 metropolitan areas, helping businesses of all sizes to tap into over $4 trillion of local spending power.
Cumulus Media's extensive portfolio includes 401 owned-and-operated radio stations in 85 markets, along with a robust lineup of nationally syndicated media, sports, and entertainment programming through the Westwood One network. This network includes prestigious brands such as the NFL, NCAA, and CNN, ensuring a rich variety of premium content for its diverse audience.
Delivering content to over a quarter billion people every month, Cumulus Media is dedicated to meeting listener demands wherever and whenever they arise. The company's revenue primarily comes from the sale of local, regional, and national advertising. By combining high-quality local programming with iconic national shows, Cumulus Media effectively bridges the gap between advertisers and consumers.
Recent achievements of Cumulus Media include the extension of the Expiration Time for their Exchange Offer and Consent Solicitation, showcasing the company's proactive approach in financial management. As of April 2024, approximately $15 million aggregate principal amount of Old Notes had been validly tendered, reflecting strong participation from stakeholders.
In addition to radio broadcasting, Cumulus Media has a rapidly growing podcast network, distributing, marketing, and monetizing various popular podcasts, including The Candy Valentino Show. This expansion into the podcasting realm further solidifies Cumulus Media's footprint in the audio content industry.
Cumulus Media's commitment to high-quality content, combined with its expansive reach and strategic partnerships, makes it a critical player in the media industry. For more information, visit cumulusmedia.com.
Cumulus Media reported a strong Q1 2022, achieving a 15% year-over-year revenue growth to $232 million. Digital revenue surged 18%, led by digital marketing services and podcasting. The company's EBITDA rose 250% year-over-year, hitting $31.2 million, while net loss narrowed significantly to $0.9 million from $21.9 million in Q1 2021. Cumulus also announced a $50 million share repurchase program and reduced its net leverage to 3.9x, the lowest in over a decade, reflecting financial strength and a positive outlook for 2022.
Cumulus Media (NASDAQ: CMLS) has promoted Brian Philips to Chief Content Officer, overseeing content across all platforms. This decision reflects the company’s commitment to an audio-first strategy, transitioning from traditional radio to a multi-dimensional media company. Philips, who played a critical role as Executive Vice President since 2019, has over 30 years of experience in radio, television, and film. Cumulus engages over 250 million listeners monthly through its extensive network of radio stations and podcasts, providing significant advertising opportunities.
Cumulus Media (NASDAQ: CMLS) has revealed that AM/FM radio streaming now constitutes 12% of total listening among persons aged 25-54. The report indicates a significant rise in streaming audiences, who are primarily upscale and employed. Notably, spoken word programming accounts for 36% of all U.S. streaming. The audience shows a high concentration in local markets, enhancing the value for advertisers targeting these areas. Since 2017, the ad-supported share of AM/FM radio streaming increased from 5% to 11%, indicating a shift in listening trends.
Cumulus Media (NASDAQ: CMLS) announced a conference call scheduled for May 4, 2022, at 8:30 AM ET to discuss its Q1 2022 operating results. A press release summarizing these results will be available at approximately 8:00 AM ET on the same day. Participants can register for the call via a provided link and will receive access details upon completion. The call will also be streamed live on the company's investor relations website, along with a later recording. Cumulus Media operates 406 radio stations and offers diverse audio content through various platforms.
Cumulus Media has entered a new syndication agreement with The Daily Wire, providing access to its digital content on over 50 Cumulus radio station websites across the United States. This collaboration enhances their existing relationship, which already includes daily radio shows reaching 250 million Americans monthly. The expansion aims to deliver breaking news and original reporting, easing the strain on local newsrooms and offering seamless user experiences for millions of new readers.
Cumulus Media's Westwood One (NASDAQ: CMLS) is set to deliver extensive coverage of the 2022 NCAA Men’s Final Four on April 2, starting at 3:30 p.m. ET from New Orleans. The broadcast will feature live commentary on the semifinals between Villanova and Kansas, and North Carolina versus Duke. Additionally, all three games will be aired in Spanish and will also connect with audiences via over 500 radio stations, SiriusXM, and online streaming platforms. Westwood One has been the exclusive radio partner for NCAA Women's Final Four since 1998, continuing its rich tradition.
Cumulus Media's Westwood One has extended its partnership with the NFL in a new multi-year agreement. This renewal allows Westwood One to continue broadcasting major NFL games, reaching over 56 million listeners each season. The deal enhances digital distribution rights, enabling NFL primetime game broadcasts on affiliated stations’ digital platforms and the NFL App. Additionally, Westwood One will expand coverage of NFL events and explore new broadcast formats. This partnership solidifies Westwood One’s role as a key audio distributor for the NFL.
TuneIn has entered a distribution agreement with Cumulus Media's Westwood One (CMLS) to offer TuneIn Premium listeners access to NCAA Division I basketball tournament broadcasts and other NCAA sports events. This partnership enhances TuneIn's sports content, allowing users across the U.S. and Canada to enjoy real-time coverage on various connected devices. TuneIn boasts over 75 million monthly active users and provides exclusive access to commercial-free news and sports programming.
The Varsity Network app by LEARFIELD will provide live audio streams of Westwood One's NCAA Championships coverage, enhancing college sports access for fans. This multi-year agreement allows listeners to enjoy broadcasts of March Madness and additional NCAA events. The app offers a unique listening experience, including the Varsity Multicast for all basketball tournament radio broadcasts. Fans can download the app for free on iPhone or Android, giving access to events from nearly 200 affiliated schools. This collaboration aims to elevate content delivery in college sports.
Cumulus Media's Westwood One will provide comprehensive coverage of the NCAA Division I Men's Basketball Championship, starting March 15, 2022. The broadcasts include all 67 games, featuring the Final Four on April 2 and the National Championship on April 4, available in both English and Spanish. Coverage can be accessed via over 500 radio stations, SiriusXM, and various online platforms, including NCAA.com. Notable commentators include Kevin Kugler, PJ Carlesimo, and Clark Kellogg.
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