Urban One Q3 2022 Earnings Report
Key Takeaways
Urban One reported a solid Q3 with an 8.9% increase in net revenue, reaching $121.4 million, and an increase in Adjusted EBITDA. The company experienced growth in its Digital segment, with approximately 40% increase in both revenue and Adjusted EBITDA.
Net revenue increased by 8.9% compared to the same period in 2021.
Operating income was $19.0 million.
Broadcast and digital operating income increased by 3.5% compared to the same period in 2021.
Digital segment posted growth of approximately 40% in both revenue and Adjusted EBITDA.
Urban One
Urban One
Forward Guidance
Same station radio pacings for Q4 excluding digital are currently +16.0% including political and +0.1% excluding political. Political spending has steadily gathered momentum, and we anticipate net political advertising revenues to be between $12-$13 million, of which radio is $9-$10 million.
Positive Outlook
- Same station radio pacings for Q4 excluding digital are currently +16.0% including political.
- Same station radio pacings for Q4 excluding digital are currently +0.1% excluding political.
- Layering in the recent Indianapolis acquisition should push radio revenues to a double-digit percentage increase for Q4.
- Political spending has steadily gathered momentum.
- Net political advertising revenues to be between $12-$13 million, of which radio is $9-$10 million.