Company: UONE
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001041657-25-000013
Chunk: 84

Company: URBAN ONE, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 84
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, in addition to providing various other event-related activities.

Expenses

Our significant expenses are: (i) employee salaries and commissions; (ii) programming expenses; (iii) marketing and promotional expenses; (iv) rental of premises for office facilities and studios; (v) rental of transmission tower space; (vi) music license royalty fees; and (vii) content amortization. We strive to control these expenses by centralizing certain functions such as finance, accounting, legal, human resources and management information systems and, in certain markets, the programming management function. We also use our multiple stations, market presence and purchasing power to negotiate favorable rates with certain vendors and national representative selling agencies. In addition to salaries and commissions, major expenses for our internet business include membership traffic acquisition costs, software product design, post-application software development and maintenance, database and server support costs, the help desk function, data center expenses connected with internet service provider (“ISP”) hosting services and other internet content delivery expenses. Major expenses for our Cable Television business include content acquisition and amortization, sales and marketing.

We generally incur marketing and promotional expenses to increase and maintain our audiences. However, because Nielsen reports ratings either monthly or quarterly, depending on the particular market, any changed ratings and the effect on advertising revenue tends to lag behind both the reporting of the ratings and the incurrence of advertising and promotional expenditures.

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URBAN ONE, INC. AND SUBSIDIARIES

RESULTS OF OPERATIONS

The following table summarizes our historical consolidated results of operations:

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023 (in thousands)

Years Ended December 31, 20242023Change Statements of Operations:Net revenue$449,674 $477,690 $(28,016)(5.9)%Operating expenses:Programming and technical, excluding stock-based compensation135,235 136,884 (1,649)(1.2)Selling, general and administrative, excluding stock-based compensation174,258 172,440 1,818 1.1 Corporate selling, general and administrative, excluding stock-based compensation50,579 53,583 (3,004)(5.6)Stock-based compensation5,716 9,975 (4,259)(42.7)Depreciation and amortization7,716 7,101 615 8.7 Impairment of goodwill and intangible assets151,755 129,278 22