Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 132

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 132
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Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Introduction

Revenue

Within our core radio business, we primarily derive revenue from the sale of advertising time and program sponsorships to local and national advertisers on our radio stations. Advertising revenue is affected primarily by the advertising rates our radio stations are able to charge, as well as the overall demand for radio advertising time in a market. These rates are largely based upon a radio station’s audience share in the demographic groups targeted by advertisers, the number of radio stations in the related market, and the supply of, and demand for, radio advertising time. Advertising rates are generally highest during morning and afternoon commuting hours.

Net revenue consists of gross revenue, net of local and national agency and outside sales representative commissions. Agency and outside sales representative commissions are calculated based on a stated percentage applied to gross billing.

The following table shows the percentage of consolidated net revenue generated by each reporting segment.

Three Months Ended March 31,20252024Radio Broadcasting segment35.4%34.8%Reach Media segment6.3%8.1%Digital segment(1)11.1%11.7%Cable Television segment(1)47.9%46.0%All other - corporate/eliminations(0.7)%(0.6)%

(1) Effective January 1, 2025, segment information for the prior periods has been recast in this Quarterly Report on Form 10-Q to include reclassification of a portion of revenues from our CTV offering from the Digital segment to the Cable Television segment. 

The following table shows the percentages generated from local and national advertising as a subset of net revenue from our core radio business.

Three Months Ended March 31,20252024Percentage of core radio business generated from local advertising66.1%65.3%Percentage of core radio business generated from national advertising, including network advertising29.6%30.7%

National and local advertising also includes advertising revenue generated from our Digital segment and low power television revenue. The balance of net revenue from our Radio Broadcasting segment is generated from ticket sales and revenue related to our sponsored events, management fees and other revenue.

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The following table shows the sources of our net revenue for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31, 2025 2024 $ Change % Change (In thousands)Net revenue:    Radio advertising$36