Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 100

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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 segment for the nine months ended September 30, 2025, increased approximately $1.0 million, compared to the nine months ended September 30, 2024. This decrease was primarily driven by due an increase in music royalty expenses (see further details in Note 13 - Commitments and Contingencies) offset by lower headcount costs. Expenses in our Digital segment for the nine months ended September 30, 2025, decreased approximately $0.8 million compared to the nine months ended September 30, 2024 primarily driven by lower headcount and lower contract labor expense. 

43

Selling, General and Administrative, Excluding Stock-based Compensation

Nine Months Ended September 30,Change20252024$148,591$169,174$(20,583)(12.2)%

Selling, general and administrative expenses include expenses associated with our sales departments, offices, corporate headquarters and facilities, marketing and promotional expenses, special events and sponsorships, and back-office expenses. Expenses associated with securing ratings data for our radio stations and visitors’ data for our websites, personnel, and other corporate overhead functions are also included in selling, general and administrative expenses. In addition, selling, general and administrative expenses for the Radio Broadcasting segment and Digital segment include expenses related to the advertising traffic (scheduling and insertion) functions. Selling, general and administrative expenses also include membership traffic acquisition costs for our Digital segment. Selling, general and administrative expenses were approximately $148.6 million for the nine months ended September 30, 2025, compared to approximately $169.2 million for the nine months ended September 30, 2024, a decrease of approximately $20.6 million. Expenses in our Radio Broadcasting segment decreased approximately $6.1 million for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, primarily due to lower headcount, reduced rental and maintenance costs, and lower bank charges. Expenses in our Reach Media segment decreased approximately $7.0 million for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, primarily due to the timing of the Fantastic Voyage cruise in May 2024 vs. October 2025, offset by a change in bad debt reserve. Expenses in our Digital segment remained flat the nine months ended September 30, 2025 and 2024. Expenses in our Cable Television segment