Urban One closed out 2025 with a fourth-quarter drop in revenue and a wider operating loss.
Net revenue for Q4 totaled $97.8 million, down 16.5% from $117.1 million in the same period a year ago. The operating loss grew to $54.0 million from just $1.9 million in Q4 2024. Net loss attributable to common stockholders came in at $54.4 million, or $12.24 per share, versus a loss of $35.7 million, or $7.81 per share, in the prior-year quarter.
Adjusted EBITDA fell to $15.6 million from $26.9 million, while broadcast and digital operating income declined 38.3% to $23.8 million.
For the full year, Urban One generated $374.4 million in revenue, down from $449.7 million in 2024. The company pointed to a lack of political advertising as reason for the drop.
Full-year Adjusted EBITDA for Urban One came in at $56.7 million.
“As expected, we had a tough fourth quarter due to a combination of non-recurring political advertising, soft radio markets and declining audience delivery in our cable television business,” Liggins said.
He noted that finishing within guidance offered some measure of stability heading into 2026, even as the company navigates ongoing headwinds across its core businesses. He noted that radio advertising pacing for the first quarter of 2026 is down 5% year-over-year. Liggins added that Urban One expects political advertising for the upcoming midterm elections to help bolster those figures in the second half of the year, however.
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