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 (NASDAQ: CMLS) reported impressive third-quarter results for 2021, showing a 21% increase in total revenue year-over-year and a 67% rise in digital revenue. The company highlighted its successful transition from traditional radio to a multi-dimensional audio-first media business. Key financial metrics include a $13 million cash generation from operations, $34 million from a Nashville land sale, and total cash of $153 million. Cumulus anticipates a strong 2022 with EBITDA guidance of $175 - $200 million and expects to achieve over $70 million in permanent fixed cost reductions compared to 2019.
Cumulus Media (CMLS) has partnered with FreeWheel and Triton Digital to integrate its podcast inventory into Strata's media buying platform. This collaboration enables over 1,100 agencies to automate the podcast buying process with validated metrics, marking a significant innovation in the podcast advertising sector. Starting Q4 2021, Strata users will access Cumulus Podcast Network’s curated podcast lineups, backed by reliable data on downloads measured by Triton. This is a pivotal step as podcasting rapidly grows in the U.S., with about 80 million weekly listeners.
Cumulus Media (NASDAQ: CMLS) will hold a conference call on November 3, 2021, at 4:30 PM ET to discuss its Q3 2021 operating results, with a press release to be issued at 4:00 PM ET. Interested participants can register via a provided link, with access details sent post-registration. The call will also be available live on Cumulus Media's investor relations website. The company operates 413 radio stations across 86 markets, delivering diverse programming and advertising services.
Cumulus Media (NASDAQ: CMLS) has announced its participation in the Deutsche Bank 29th Annual Leveraged Finance Conference on October 6, 2021. The company released a new investor presentation, detailing its transition from a radio-focused entity to a multi-dimensional, audio-first media company. Key highlights from the presentation include market recovery, growth in digital business lines, strong free cash flow, and a solid balance sheet. Cumulus is optimistic about delivering additional shareholder value. Access to the investor presentation is available via the company’s website.
Cumulus Media (NASDAQ: CMLS) has appointed Doug Cohn and Bruce Gilbert to newly created senior positions to enhance content development across multiple platforms, including music, entertainment, and sports. Cohn, former Senior Vice President at ViacomCBS, will lead Music & Entertainment, focusing on innovative programming and successful partnerships. Gilbert, who has been with Cumulus for seven years, will oversee Sports, aiming to leverage the company's extensive sports portfolio. These moves, according to EVP Brian Philips, are expected to drive creativity and growth in Cumulus's content offerings.
Audacy and Cumulus Media have formed a content distribution partnership, integrating Cumulus's 413 radio stations and podcasts onto the Audacy digital platform. This collaboration aims to enhance listener access and engagement, aligning with Cumulus's strategy of multi-platform content distribution. The Audacy app now offers users diverse audio options, including over 2,000 local and national stations and numerous devices compatible for streaming. This partnership positions Audacy to strengthen its growth in the digital radio space.
Cumulus Media's Atlanta radio station Q99.7/WWWQ-FM will distribute 5000 free Q99.7-branded PPE face masks at the 2021 Music Midtown Festival in Piedmont Park, Atlanta on September 18. The giveaway aims to promote safety during the event. Attendees can also look for the Q99.7 Maroon 5 Insane Plane featuring a large promotional banner celebrating the band's latest album, JORDI. The festival runs from September 18 to September 19 and is produced by LiveNation.
Cumulus Media's Westwood One released a study revealing that their NFL play-by-play broadcasts reach 56 million listeners over the season, highlighting a more engaged audience compared to TV viewers. The radio audience is characterized by higher passion for sports, greater participation in sports betting, and younger demographics. Key findings show that radio listeners spend 16% more than the average American and that increasing advertisements significantly boosts audience reach. Additionally, the study indicates that radio broadcasts enhance NFL TV viewership, showing a 24% increase among Millennial men.
Cumulus Podcast Network has launched a new series titled "Voices of Football" on the podcast Just Getting Started with Rich Eisen. The series debuted on September 9, 2021, featuring Al Michaels as the first guest, discussing his illustrious career. Subsequent episodes will air weekly every Wednesday, with notable guests including Joe Buck and Erin Andrews. This initiative aims to engage listeners with stories from prominent football personalities and is accessible on popular platforms like Apple Podcasts and Spotify.
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