Radio One and Reach Media parent Urban One Inc. issued its 2025 Q3 earnings report this morning.

For the three months ending on September 2025, Urban One net revenue was approximately $92.7 million, a decrease of 16.0% from the same period in 2024. The company reported operating income of approximately $2.5 million for the three months ended September 30, 2025, compared to an operating loss of approximately $26.2 million for the three months ended September 30, 2024.

Broadcast and digital operating income was approximately $20.0 million for the three months ended September 30, 2025, a decrease of 43.6% from the same period in 2024. The net loss was approximately $2.8 million or $(0.06) per share (basic) for the three months ended September 30, 2025 compared to net loss of approximately $31.8 million or $(0.68) per share (basic) for the same period in 2024. Adjusted EBITDA was approximately $14.2 million for the three months ended September 30, 2025, compared to approximately $25.4 million for the same period in 2024.

Urban One stated that the decrease was primarily due to lower broadcast and digital operating income at all segments. Digital generated $700,000 during the quarter down from $7.1 million in 2024 due to lower revenues offset by lower expenses. Reach Media’s income dropped from $5.1 million in 2024 to $400,000 due to lower revenues and higher expenses. The radio station operations were down from $6.7 million to $2.7 million. Cable TV income fell from $16.7 million to $16.1 million.

Urban One President/CEO Alfred Liggins III said, “Third quarter results came in slightly softer than expected across the board. Core radio, excluding political, finished down 8.1%, and our Radio segment is currently pacing down 30.2% all-in and 6.4% ex political for the fourth quarter of 2025. Revenues at our Reach Media and Digital segments were down 40.0% and 30.0% respectively, which was on the lower end of expectations. Cable TV advertising was down 5.4% and affiliate revenue was down 9.1% driven by continuing subscriber churn. In light of the soft overall market conditions, we are reducing our full year guidance from $60.0 million of Adjusted EBITDA2 to $56.0 to $58.0 million. Our focus remains on controlling costs, managing debt, leverage and liquidity. During the third quarter of 2025, we repurchased $4.5 million of our 2028 Notes at an average price of approximately 52.0% of par, reducing our outstanding debt balance to $487.8 million.”