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Urban One, Inc. (NASDAQ: UONE) stands as the largest distributor of urban content in the United States, serving as a pivotal voice for Black America for over 35 years. Initially emerging as the premier local urban radio network, Urban One has expanded its footprint to become the largest syndicator of urban programming and the foremost African-American owned television network. The company also excels as a distributor of digital urban content, reaching an unparalleled 82% of Black America through its diverse media platforms.
Urban One's operations span several key segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment encompasses 72 revenue-producing broadcast stations across 13 urban markets, including iconic brands like Radio One. Reach Media includes syndicated programming such as the Rickey Smiley Morning Show and DL Hughley Show, while the Digital segment is anchored by iOne Digital, featuring popular platforms like Cassius, Bossip, and HipHopWired. The Cable Television segment is headlined by TV One, a network that reaches more than 59 million households.
In recent developments, Urban One reported a net revenue of approximately $477.7 million for the fiscal year ending December 31, 2023. This marks a slight decline from the previous year, attributed primarily to challenges within the cable television segment, including subscriber churn and lower ratings. Despite these hurdles, the company’s radio broadcasting and Reach Media segments witnessed revenue growth, bolstered by strategic acquisitions in Indianapolis and Houston.
Facing financial scrutiny, Urban One has addressed several compliance issues with the Nasdaq Stock Market LLC. The company has proactively filed delinquent reports and presented compliance plans to maintain its listing status. Furthermore, Urban One continues to explore innovative content delivery solutions, catering to a wide array of advertisers aiming to reach the urban and African-American demographic.
Urban One's forward-looking strategy involves leveraging its diverse media assets to drive deeper engagement with its audience while navigating industry-wide challenges. The commitment to
Urban One, Inc. (NASDAQ: UONEK; UONE) will hold a conference call on March 03, 2022, at 10:00 a.m. EST to discuss its fiscal year results for 2021. U.S. participants can join by calling 1-877-226-8215, with an international line at (+1) 409-207-6982. A replay will be available from 1:00 p.m. EST on the same day until 12:00 a.m. EST on March 07, 2022. The replay can be accessed at 1-866-207-1041 for U.S. callers and (+1) 402-970-0847 for international calls. More information is available on Urban One's website.
Urban One has announced the promotion of Laura Clark to Senior Vice President of Political and Governmental Sales. With over eight years at Urban One, Clark has driven sales across various platforms, targeting the African American community. Her leadership is expected to enhance revenues as the company gears up for the 2022 midterm elections. Urban One, the largest African American-owned multimedia provider, operates numerous broadcast stations and digital platforms, serving over 59 million households in the U.S.
Urban One announced the promotion of Colby Tyner to Senior Vice President of Programming for Radio One and Reach Media. Tyner, who has been with the company for over 20 years, previously served as Vice President of Programming, where he successfully increased ratings, procured talent, and launched popular radio shows. CEO David Kantor praised Tyner's significant contributions to the company's success in engaging listeners through quality content. Urban One targets Black Americans with its media platforms, including a network that reaches over 59 million households.
Urban One, Inc. (NASDAQ: UONEK and UONE) reported strong financial results for Q3 2021, with net revenue rising 21.3% to approximately $111.5 million. Broadcast and digital operating income increased to $49.1 million, an 11.2% rise, while operating income surged to $34.5 million from just $4 million in Q3 2020. The company achieved net income of $13.9 million or $0.27 per share, a turnaround from a loss of $12.8 million in the previous year. Adjusted EBITDA reached $42.7 million, reflecting robust demand for advertising across its platforms. Despite these gains, a proposed casino project was narrowly defeated in a local referendum.
On November 1, 2021, Radio One, part of Urban One, announced the launch of La Grande 101.5 FM WIZF HD-2 in Cincinnati, OH. This new Hispanic station will feature a mix of regional Mexican and tropical music, catering to the local Hispanic community. The expansion aligns with Radio One's strategy to provide advertising solutions to African American and Hispanic audiences, similar to its existing stations in Columbus and Indianapolis. The addition enhances their media footprint in the Cincinnati market, establishing it as a centralized provider for businesses targeting these demographics.
Urban One, Inc. (NASDAQ: UONEK; UONE) is set to hold a conference call on November 4, 2021, at 10:00 a.m. EDT to discuss its third fiscal quarter results. U.S. participants can join by calling 1-877-336-4436, while international callers can dial (+1) 234-720-6984. A replay will be accessible from 1:00 p.m. EDT on November 4 to 12:00 a.m. EDT on November 8, 2021. The live call and replay will also be available on Urban One's corporate website.
On October 21, 2021, Radio One and Reach Media, platforms of Urban One, Inc., introduced their virtual upfront experience titled Millions. Billions. Trillions. in collaboration with the Black-owned Dream Currency. This initiative emphasizes the buying power of the African American consumer. Radio One and Reach Media reach 31 million monthly listeners, covering 90% of the African American population. The partnership includes exclusive merchandise and aims to unite brands in promoting Black culture and consumer engagement.
Urban One reported strong financial results for Q2 2021, with net revenue at approximately $107.6 million, a 41.6% increase year-over-year. Operating income reached $37.9 million, up from $20.4 million in Q2 2020. Net income surged to $17.9 million or $0.36 per share versus $1.4 million or $0.03 per share last year. Adjusted EBITDA climbed to $44.8 million, marking an 82.4% increase. The company sees robust demand in radio and digital advertising, forecasting FY21 Adjusted EBITDA guidance to mid-$130 million.
Urban One, Inc. (NASDAQ: UONEK; UONE) will hold a conference call on August 5, 2021, at 10:00 a.m. EDT to discuss its second fiscal quarter results. U.S. callers can participate by dialing 1-877-226-8163 while international callers may use (+1) 234-720-6983. A replay will be available after the call until midnight EDT on August 8, 2021. Callers can access the replay using 1-866-207-1041 for U.S. and (+1) 402-970-0847 for international. Urban One operates as the largest diversified media company targeting Black Americans, owning multiple television and radio stations.
Urban One, Inc. (NASDAQ: UONEK and UONE) reported its Q1 2021 results, showing net revenue of $91.4 million, a 3.6% decline from Q1 2020. Operating income improved to $23.8 million compared to a loss of $27.3 million a year prior, while net income reached $7,000 or $0.00 per share, versus a loss of $23.2 million or $0.51 per share in 2020. Adjusted EBITDA was approximately $28.8 million, down 10.8% year over year. Core radio advertising fell 13.7%, but digital revenues surged 64.6%. The company anticipates further improvements in Q2, with core radio pacing up over 70% in April.
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