The nation’s largest media company superserving African Americans saw its net revenue shrink by nearly $20 million during the final three months of 2024, as its net loss widened due to across-the-board revenue dips — including a 7.4% decline in digital advertising.
Indeed, the Q4 2025 revenue results for Urban One are perhaps emblematic of the struggles seen in the last year by multicultural consumer-focused radio and television broadcasting companies.
Overall, net revenue shrank to $97.83 million from $117.13 million. And, there was not one segment that saw a gain in the fourth quarter.
As seen above, the absence of political ad dollars played a key role in the lowered net revenue for Urban One in Q4. Still, radio advertising didn’t return after the displacement seen in the final three months of 2024, falling by nearly 16%.
Meanwhile, pressures are mounting for Urban One with its cable television networks TV One and Cleo, with ad revenue falling by nearly 22% as affiliate fees fell by 9%.
Total it up, and Urban One’s net loss widened to $54.4 million (-$12.24 per share) in Q4 2025, from $35.66 million (-$7.81) a year earlier. Consolidated adjusted EBITDA fell to $15.64 million, from $26.87 million.
In prepared comments, Urban One President/CEO Alfred Liggins III (pictured, top left) said the “tough” fourth quarter was expected due to the poor political advertising revenue comps and “soft radio markets,” in addition to declining audience delivery in the cable television segment. The good news? “Significant recovery” in Q1 2026 is being seen thanks to “revised Nielsen methodology” that gave TV One and Cleo a lift.
Despite this, Liggins said, Urban One was able to achieve full year Adjusted EBITDA within the company’s previous guidance range, at $56.7 million.
What’s ahead? Radio pacings are down in the mid-single-digit range as potential political advertising in the second half of 2026 is already being looked at positively.
In related news, a “multi-platform evolution” is the centerpiece of a five-year extension of Urban One’s Reach Media-syndicated offering “The Rickey Smiley Morning Show.” The new contract includes the launch of “Rickey Smiley On The Spot,” an original video podcast series launching March 24 on the Urban One Podcast Network.
For FY 2025, net revenue fell to $374.37 million from $449.67 million, as adjusted EBITDA was sliced to $56.66 million, from $103.46 million.
