The pressure facing broadcast media companies in 2026 became even more visible Thursday as Urban One reported a difficult first quarter marked by shrinking revenue, softer advertising demand, and continued turbulence across several of its core businesses.
The company — which operates Radio One, Reach Media, and TV One — posted first quarter revenue of approximately $77.7 million, down 15.8% from the same period a year ago. The results also included a quarterly operating loss of roughly $2.2 million and adjusted EBITDA that fell sharply to $4.7 million from $12.9 million during the first quarter of 2025.
Urban One President and CEO Alfred Liggins III did not attempt to sugarcoat the opening months of the year, acknowledging that weakness stretched across virtually every division of the company. Television revenue fell 18.5%, digital dropped 33.5%, radio declined 6.4%, and syndicated arm Reach Media slid 17% amid a softer advertising environment and client pullbacks.
Even with the downturn, executives pointed to several areas they believe could stabilize the company moving forward. Local radio sales reportedly performed slightly better than the broader market according to Miller Kaplan data, while the company continues aggressively reducing debt and repositioning key assets.
One of the biggest developments tied to the quarter involved Urban One’s expanding footprint in Dallas. The company recently announced plans to acquire heritage stations KKDA and KRNB while simultaneously divesting KZMJ. Additional station sales involving Charlotte properties WLNK and WMXG were also disclosed as part of broader restructuring efforts. Executives estimate the combined transactions could eventually add roughly $5 million in annualized EBITDA once finalized.
Behind the scenes, Urban One has also been focused heavily on debt reduction. Company leadership said more than $60 million in long-term debt has been eliminated so far this year through discounted note repurchases and refinancing activity, creating what executives estimate will amount to approximately $4.6 million in annual interest savings.
Still, the broader picture reflects the difficult reality facing many media operators right now. National advertising softness, changing digital spending patterns, weaker cable performance, and ongoing economic uncertainty continue creating headwinds for broadcasters trying to balance legacy operations with modern revenue demands.
And while Urban One executives expressed optimism about improvement later in the year — particularly in digital and political advertising — the company’s first quarter numbers serve as another reminder that radio and television operators across the country remain deep in a battle for stability in an increasingly fragmented media landscape.
On The Dial covers breaking radio industry news, including layoffs, programming changes, talent moves, and broadcast trends across the United States.