- Cumulus Media (CMLS, Financial) reported a net revenue decline of 6.4% year-over-year for Q1 2025, totaling $187.3 million.
- The company faced a net loss of $32.4 million, a significant increase from a loss of $14.2 million in Q1 2024.
- Digital revenue grew by 6.1% to $36.6 million, accounting for 20% of total revenue, aided by a 30% increase in digital marketing services.
Cumulus Media Inc. (CMLS) has released its financial results for the first quarter of 2025, highlighting challenging economic conditions impacting overall performance. The company's total net revenue plummeted by 6.4% year-over-year to $187.3 million. The digital segment provided a rare positive note, recording a 6.1% increase in revenue to $36.6 million, now representing 20% of the total revenue.
The company reported a widening net loss of $32.4 million, a substantial increase from the $14.2 million loss recorded in the same period the previous year. Adjusted EBITDA nosedived by 58.1%, dropping to $3.5 million from $8.4 million in Q1 2024.
Cumulus Media's traditional broadcast radio revenue saw a 10.6% decline, down to $124.9 million. On the other hand, digital marketing services experienced an impressive 30% growth, reflecting the company's investment in strengthening its sales and support capabilities.
In response to the financial strains, Cumulus Media undertook cost-cutting measures, achieving $7.5 million in annualized fixed cost reductions. The company ended the quarter with $52.7 million in cash and had a total debt of $670.2 million, with notable portions due in 2026 and 2029.
As Cumulus Media navigates these headwinds, the focus remains on building its digital revenue streams to counteract declines in traditional avenues. The company continues to look at strategic transformations to leverage its key assets effectively amidst the changing media landscape.
