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.
About Cumulus Media
Cumulus Media Inc. (NASDAQ: CMLS) is a leading audio-first media company that delivers premium content to over a quarter billion people every month across the United States. With a robust portfolio that spans 400+ owned-and-operated radio stations across 85 markets and a nationally syndicated programming network through Westwood One, Cumulus Media combines the power of local connections with the expansive reach of national platforms. The company’s offerings include high-quality local programming, iconic syndicated shows, and a rapidly growing podcast network, catering to diverse audience preferences.
Core Business Segments
Cumulus Media operates through three primary business segments:
- Local Broadcasting: The company owns and operates a vast network of radio stations across metropolitan areas, delivering localized content tailored to community interests. This includes music, talk shows, sports, and news programming.
- National Syndication: Through its Westwood One network, Cumulus Media distributes nationally syndicated sports, news, and entertainment programming. Iconic brands such as the NFL, NCAA, and Academy of Country Music Awards are part of its portfolio, reaching over 9,800 affiliated stations.
- Podcasting: The Cumulus Podcast Network offers a diverse range of original and syndicated podcasts. These include thought-provoking shows in genres like news, entertainment, true crime, and sports, leveraging the growing demand for on-demand audio content.
Revenue Model
The company’s primary revenue streams are derived from the sale of advertising across its platforms. This includes:
- Local Advertising: Targeted campaigns designed for businesses to connect with local audiences.
- National Advertising: Large-scale campaigns leveraging the reach of Westwood One and digital platforms.
- Integrated Marketing Solutions: Comprehensive offerings that combine radio, digital, and on-site promotional strategies to maximize advertiser impact.
Market Position and Industry Context
Cumulus Media is the second-largest operator of radio stations in the U.S., positioned within a competitive landscape that includes major players like iHeartMedia and Audacy. While traditional radio faces challenges from digital streaming platforms and shifting consumer habits, Cumulus Media has adapted by embracing digital transformation. Its integrated approach—combining traditional radio with podcasting and digital marketing solutions—ensures its relevance in the evolving audio entertainment industry.
Competitive Differentiators
- Local and National Synergy: The company uniquely blends local programming with nationally recognized brands, providing advertisers with both personal connections and broad reach.
- Advertising Performance Guarantees: Cumulus Media is the only audio company offering performance guarantees, enhancing trust and value for advertisers.
- Diverse Content Portfolio: From live radio broadcasts to on-demand podcasts, Cumulus caters to a wide range of audience preferences, ensuring engagement across multiple platforms.
Challenges and Opportunities
Like many in the media industry, Cumulus Media faces challenges such as the rise of digital streaming services, evolving consumer preferences, and economic pressures affecting advertising budgets. However, the company is well-positioned to capitalize on the growing demand for audio content, particularly in podcasting and digital marketing solutions. Its ability to innovate and adapt to market trends will be critical to sustaining its competitive edge.
Conclusion
Cumulus Media stands as a significant player in the U.S. media landscape, leveraging its extensive network, diverse content offerings, and innovative advertising solutions to connect with audiences and advertisers alike. By combining the strengths of traditional radio with the opportunities presented by digital platforms, Cumulus continues to redefine its role in the modern audio ecosystem.
Cumulus Media's (NASDAQ:CMLS) Westwood One, America's largest audio network, will broadcast live coverage of NFL Championship Sunday on January 26th, 2025, sponsored by Intuit TurboTax. The coverage includes two championship games: Washington Commanders vs Philadelphia Eagles at 2:00pm ET, and Buffalo Bills vs Kansas City Chiefs at 6:30pm ET.
This marks Westwood One's 38th consecutive year as the NFL's official audio partner. Scott Graham will host pre-, half-, and post-game coverage for the 16th consecutive season. The broadcasts will be available on approximately 500 radio stations nationwide, westwoodonesports.com, SiriusXM, NFL+, and the NFL App.
Cumulus Media (NASDAQ: CMLS) has appointed Steven M. Galbraith, one of its largest shareholders, to its Board of Directors. Galbraith is currently a managing member of Kindred Capital Advisors , which holds significant shares in Cumulus. His extensive financial background includes roles as managing member of Herring Creek Capital, partner at Maverick Capital, and Chief Investment Officer at Morgan Stanley.
Galbraith's appointment brings valuable investment management expertise to the board. He previously served as an Adjunct Professor at Columbia University Business School and advisor to the Office of Financial Research. His current board positions include Success Academy Charter Schools, Third Way, Educational Equity Lab, American Friends of Hebrew University Endowment, Narragansett Brewing Company, Equity Data Science, and Said Holdings
Cumulus Media's (NASDAQ:CMLS) Westwood One continues its role as the NFL's official audio partner for the 38th consecutive year, broadcasting the NFL Divisional Round games on January 18-19, 2025. The coverage, sponsored by Intuit TurboTax, includes four major matchups: Houston Texans vs. Kansas City Chiefs, Washington Commanders vs. Detroit Lions, Los Angeles Rams vs. Philadelphia Eagles, and Baltimore Ravens vs. Buffalo Bills.
The broadcasts will be available on approximately 500 radio stations nationwide, as well as on westwoodonesports.com, SiriusXM, NFL+, and the NFL App. Scott Graham will host the pre-, half-, and post-game coverage for the 16th consecutive season, supported by various commentators including Kevin Harlan, Ross Tucker, and Ian Eagle among others.
Cumulus Media's (NASDAQ:CMLS) Westwood One, celebrating its 38th consecutive year as the NFL's official audio partner, will broadcast live play-by-play coverage of all six NFL Wild Card Weekend games from January 11-13, 2025. The coverage includes:
- Saturday: Chargers vs. Texans (4:00 PM ET) and Steelers vs. Ravens (8:00 PM ET)
- Sunday: Broncos vs. Bills (12:30 PM ET), Packers vs. Eagles (4:15 PM ET), and Commanders vs. Buccaneers (8:00 PM ET)
- Monday: Vikings vs. Rams (7:30 PM ET)
Scott Graham will host pre-, half-, and post-game coverage for Saturday and Sunday games, while Rich Eisen will handle pre- and halftime coverage for Monday's game. Broadcasts will be available on approximately 500 radio stations, westwoodonesports.com, SiriusXM, NFL+, and the NFL App.
Cumulus Media's Westwood One (NASDAQ: CMLS) announces an exclusive partnership to syndicate and distribute 'The Jim Rome Show'. Starting January 6, 2025, the show will move to a new time slot of 3:00pm – 6:00pm EST / Noon to 3:00pm PST. Rome, known for his aggressive and informed sports commentary, will continue broadcasting LIVE weekdays.
The partnership enhances Westwood One's sports programming portfolio. The show currently streams live on X (formerly Twitter) and has recently launched a Fast Channel with A+E Networks, available across seven major platforms including Amazon Freevee, DIRECTV, and Samsung TV Plus.
Cumulus Media's Westwood One announces the launch of 'Country Nights Live with Bev Rainey', a new five-hour nightly Country music radio show broadcasting live from Nashville. The show, hosted by award-winning personality Bev Rainey, will air seven days a week from 7:00pm to Midnight, starting December 31, 2024. The program will feature chart-topping Country music, interviews with top stars, emerging talent, Music City news, and interactive fan engagement across U.S. markets.
Westwood One announced changes to its syndicated show 'American Country Countdown'. After 18 years, host Kix Brooks will conclude his run on December 28-29, 2024. Ryan Fox, currently a morning show host at Dallas' 99.5 The Wolf, will take over as the new host starting January 4-5, 2025. The show, heard on over 300 stations across the U.S., will feature contemporary country stars and continue delivering top hits, exclusive interviews, and backstage stories. Fox brings over 20 years of country radio experience from major markets including Los Angeles and Dallas.
Cumulus Media (NASDAQ: CMLS) has announced a new original podcast series, 'Liberty and Learning with Mark Levin and Larry Arnn'. The 10-part series features veteran broadcaster Mark Levin and Hillsdale College President Dr. Larry Arnn exploring U.S. founding principles and self-governance.
The podcast will address current national issues through the lens of constitutional government, covering topics like education, borders, citizenship, and separation of powers. The series is available on The Mark Levin Show podcast feed across major platforms, distributed through Westwood One and the Cumulus Podcast Network.
Cumulus Media (NASDAQ: CMLS) reported Q3 2024 financial results with total net revenue of $203.6 million, down 1.8% year-over-year. The company's digital revenue grew 7.5% to $40.0 million, with digital marketing services increasing by 38%. However, the company recorded a net loss of $10.3 million compared to net income of $2.7 million in Q3 2023. Broadcast radio revenue declined 5.0% to $138.9 million, while digital revenue now represents 20% of total company revenue. The company generated $3.9 million in cash from operations and reported total debt of $673.0 million at quarter-end.
Cumulus Media Inc. (NASDAQ: CMLS) has announced a conference call scheduled for Friday, November 1st at 8:30 AM ET to discuss its third quarter 2024 operating results. A press release summarizing these results will be issued at approximately 8:00 AM ET before the call. To participate, interested parties must register in advance using the provided link. Upon registration, participants will receive call access details, including a unique PIN, and replay information.
The conference call will also be broadcast live in listen-only mode through the company's investor relations website. A recording of the call will be available shortly after its completion. For operator-assisted dial-in, domestic callers should use 833-470-1428, while international callers should dial 404-975-4839, with the participant access code 535839.
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