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), in collaboration with Signal Hill Insights, released the Podcast Download – Fall 2021 Report, analyzing podcast audience and advertising trends. The report reveals that Spotify has become the leading platform for podcast listening in the U.S., holding a 24% share. Key trends include a rise in female podcast listeners (60% of newcomers), and the fact that 45% of brands are now advertising in podcasts. Furthermore, two-fifths of podcast listeners are cord cutters, relying on ad-free streaming services, highlighting a significant advertising opportunity.
Cumulus Media (NASDAQ: CMLS) has announced participation in two upcoming investor conferences. The 5th Annual Virtual Wells Fargo TMT Summit will feature a fireside chat on December 1, 2021, at 10:40 AM ET. Additionally, the Bank of America Securities 2021 Leveraged Finance Conference is scheduled for December 2, 2021, at 7:30 AM ET, with a group presentation available via live stream and on-demand access within 24 hours. Management will also conduct one-on-one meetings with investors during both events.
Cumulus Media (NASDAQ: CMLS) recently released an analysis from Westwood One’s Audio Active Group, demonstrating the effectiveness of AM/FM radio for political advertising, particularly among voters who are light TV viewers. The study reveals that AM/FM radio reaches 82% of registered light TV viewers and can significantly enhance voter reach by 15% when integrated into media plans. With a 74% share of ad-supported audio, Cumulus Media highlights AM/FM radio's competitive advantage due to lower political ad clutter compared to television, making it a strategic tool for upcoming elections.
Cumulus Media (NASDAQ: CMLS) announced that its Dallas station, KTCK-AM/Sportsradio 96.7 and 1310 The Ticket, won two prestigious awards at the 2021 NAB Marconi Radio Awards. The station was named Sports Station of the Year, and the top-rated morning show hosts, George Dunham, Craig Miller, and Gordon Keith, received the Major Market Personality of the Year award. With over 27 years of experience, The Musers have been a top-rated show in the Dallas-Fort Worth area since 1995, further establishing Cumulus Media's strong presence in audio entertainment.
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.
FAQ
What is the current stock price of Cumulus Media (CMLS)?
What is the market cap of Cumulus Media (CMLS)?
What does Cumulus Media Inc. do?
How many radio stations does Cumulus Media own?
What is the Westwood One network?
How does Cumulus Media generate revenue?
Who are the typical listeners of Cumulus Media?
What recent developments have taken place at Cumulus Media?
What types of content does Cumulus Media's podcast network offer?
How does Cumulus Media support advertisers?
What are the core business areas of Cumulus Media?
Where can I find more information about Cumulus Media?
