Urban One, Inc. reported net revenue of approximately $117.1 million for the fourth quarter ended December 31, 2024, a decrease of 2.7% from the same period in 2023. The company recorded a net loss of $35.7 million, or $(0.78) per share, compared to a net income of $1.3 million, or $0.03 per share, in Q4 2023.
Adjusted EBITDA for the quarter was approximately $27.4 million, down from $34.7 million in the prior year's quarter. While Radio Broadcasting revenue increased by $1.0 million to $48.6 million, primarily due to political advertising, Reach Media revenue declined by $1.9 million to $12.0 million, and Digital revenue fell by $1.2 million to $19.3 million. Cable TV revenue also decreased by $2.9 million to $37.9 million due to subscriber churn and lower advertising.
Urban One continued its focus on debt reduction, repurchasing $10.0 million of its 2028 notes at 75.0% during Q4 2024, bringing the total outstanding debt to $590.0 million. The company ended the quarter with $137.6 million in cash. Additionally, Urban One repurchased 1,000,000 shares of Class A Common Stock for $2.0 million and 500,000 shares of Class D Common Stock for $0.7 million during the quarter.
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