You could hear the frustration in the Urban One CEO’s voice about his company’s performance. Alfred Liggins said it was tough all around, lead by a downward trend in the radio business and Reach Media.
In April, Urban One’s radio business was off by nearly 13%. May was down over 7%. The good news is June was up 2.3% and Liggins says radio is improving, although Q3 is pacing down 3% and Reach Media is pacing down 5%. Liggins also warned of strong political comps up ahead in Q4. In Q2, local radio revenue was down 7.6% and national was off by just under 3%.
