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Urban One Inc is an urban oriented, multi-media company. Its business is radio broadcasting franchise that is the radio broadcasting operation that targets African-American and urban listeners. It operates through the following segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment includes all the broadcasting related operations. The Reach Media segment consists of the Tom Joyner Morning Show and its related activities. The Digital segment focuses on its online business, including the operations of Interactive One. The Cable Television segment deals with TV One's operations.
Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 59 million households, offering a broad range of original programming, classic series, and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of June 07, 2024, we owned and/or operated 72 independently formatted, revenue-producing broadcast stations (including 57 FM or AM stations, 13 HD stations, and the 2 low power television stations) branded under the tradename 'Radio One' in 13 urban markets in the United States. Through its controlling interest in Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired, and MadameNoire digital platforms and brands. We also have invested in a minority ownership interest in MGM National Harbor, a gaming resort located in Prince George's County, Maryland. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences.
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.
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.
Urban One will host a conference call on May 12, 2021, at 10:00 a.m. EDT to discuss its first fiscal quarter 2021 results. U.S. callers can dial 1-844-291-6362, while international participants may call (+1) 234-720-6995 with access code 9323973. A replay will be available from 1:00 p.m. EDT on May 12 until 12:00 a.m. EDT on May 15. The company cautions that forward-looking statements in this release involve risks that could cause actual results to differ significantly from expectations.
Urban One reported a strong Q4 2020 performance with net revenue rising to approximately $113.5 million, a 7.3% increase year-over-year. Broadcast and digital operating income soared to $51.9 million, up 51.3%. The company achieved a net income of $26.4 million or $0.58 per share, bouncing back from a net loss of $7.9 million in Q4 2019. Adjusted EBITDA also increased significantly to $41.7 million. Liquidity remained robust with a cash balance of $73.9 million.
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