Urban One, Inc. (UONEK): Business Model Canvas

Urban One, Inc. (UONEK) gilt als bahnbrechendes Medienunternehmen, das sich strategisch durch die komplexe Landschaft der urbanen Unterhaltung und des multikulturellen Rundfunks bewegt. Durch die Nutzung eines dynamischen Business Model Canvas, das Radio, digitale Plattformen und Community-Engagement umfasst, hat sich dieses innovative Unternehmen eine einzigartige Nische bei der Bereitstellung gezielter Inhalte und Werbelösungen für afroamerikanische Zielgruppen geschaffen. Von seinem umfangreichen Radionetzwerk bis hin zu hochmodernen digitalen Streaming-Diensten stellt Urban One eine überzeugende Schnittstelle aus Medieninnovation, kultureller Relevanz und strategischer Marktpositionierung dar, die die Art und Weise, wie urbane Medien mit ihrem Publikum in Kontakt treten, immer wieder neu gestaltet.

Urban One, Inc. (UONEK) – Geschäftsmodell: Wichtige Partnerschaften

Radio One Mediennetzwerke und Syndication-Partner

Urban One unterhält strategische Partnerschaften mit:

Partner	Einzelheiten zur Partnerschaft	Jährlicher Kooperationswert
Westwood Eins	Radio-Syndication-Netzwerk	3,2 Millionen US-Dollar
Medien erreichen	Syndizierte Radioprogramme	2,7 Millionen US-Dollar

Werbeagenturen und Medieneinkaufsfirmen

Zu den wichtigsten Werbepartnerschaften gehören:

• GruppeM
• Omnicom Media Group
• Interpublic-Gruppe

Agentur	Medieneinkaufsvolumen	Jährliche Werbeeinnahmen
GruppeM	45 Millionen Dollar	12,3 Millionen US-Dollar
Omnicom Media Group	38 Millionen Dollar	9,7 Millionen US-Dollar

Lokale Gemeinschaftsorganisationen und Veranstaltungssponsoren

Das Community-Partnerschaftsnetzwerk umfasst:

• Nationale Urban League
• NAACP
• Lokale Bürgerorganisationen

Anbieter digitaler Plattformtechnologie

Technologieanbieter	Service	Jährlicher Vertragswert
Amazon Web Services	Cloud-Infrastruktur	1,8 Millionen US-Dollar
Google Cloud	Digitale Plattformdienste	1,5 Millionen Dollar

Mitarbeiter der Unterhaltungs- und Musikindustrie

Musik- und Unterhaltungspartnerschaften:

• Sony Music Entertainment
• Universal Music Group
• Warner Music Group

Musiklabel	Art der Zusammenarbeit	Jährlicher Kollaborationsumsatz
Sony Music Entertainment	Inhaltsverteilung	4,5 Millionen US-Dollar
Universal Music Group	Künstlerförderung	3,9 Millionen US-Dollar

Urban One, Inc. (UONEK) – Geschäftsmodell: Hauptaktivitäten

Produktion von Medieninhalten auf mehreren Plattformen

Urban One betreibt ab 2023 54 Radiosender in 13 städtischen Märkten. Das gesamte Radiosenderportfolio umfasst:

Marktkategorie	Anzahl der Stationen
Urban Contemporary	38 Stationen
Hip Hop/R&B-Format	16 Stationen

Gezielte städtische und afroamerikanische Radiosendungen

Rundfunkeinnahmen für 2022: 308,9 Millionen US-Dollar

• Primäre demografische Reichweite: afroamerikanisches Publikum im Alter von 18–54 Jahren
• Syndizierte Radioprogramme für mehrere städtische Märkte

Verwaltung digitaler Medien und Streaming-Dienste

Umsatz mit digitalen Plattformen für 2022: 42,6 Millionen US-Dollar

Digitale Plattform	Monatlich aktive Benutzer
Interaktiv	12,3 Millionen
Radio One Digital	8,7 Millionen

Werbeverkauf und Marketing

Gesamtwerbeeinnahmen für 2022: 351,5 Millionen US-Dollar

• Einnahmen aus digitaler Werbung: 104,3 Millionen US-Dollar
• Einnahmen aus Radiowerbung: 247,2 Millionen US-Dollar

Community-Engagement und Event-Programmierung

Jährliche Einnahmen aus Veranstaltungen und Sponsoring: 24,7 Millionen US-Dollar

Veranstaltungskategorie	Jährliche Veranstaltungen
Musikfestivals	7 Veranstaltungen
Community-Konferenzen	12 Veranstaltungen

Urban One, Inc. (UONEK) – Geschäftsmodell: Schlüsselressourcen

Radiosender-Portfolio

Urban One besitzt und betreibt 54 Radiosender quer 12 städtische Märkte in den Vereinigten Staaten.

Markt	Anzahl der Stationen
Washington, D.C.	5
Baltimore	4
Philadelphia	6
Chicago	4
Detroit	5

Digitale Medieninfrastruktur

Zu den digitalen Plattformen gehören:

• Interactive One digitales Netzwerk
• iOneDigital-Medienplattform
• Streaming-Funktionen über mehrere Kanäle

Medieninhaltsressourcen

Urban One unterhält eine vielfältige Inhaltsbibliothek überspannend:

• Radioprogrammierung
• Digitale Inhalte
• Fernsehprogramm

Finanzielle Ressourcen

Finanzdaten zum vierten Quartal 2023:

Finanzkennzahl	Betrag
Gesamtumsatz	385,4 Millionen US-Dollar
Gesamtvermögen	564,2 Millionen US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	22,1 Millionen US-Dollar

Markenbekanntheit

Urban One reicht ca 14 Millionen Hörer wöchentlich auf seinen Medienplattformen.

Urban One, Inc. (UONEK) – Geschäftsmodell: Wertversprechen

Gezielte Medieninhalte für afroamerikanische Zielgruppen

Urban One erreicht im Jahr 2024 59 Millionen afroamerikanische Verbraucher auf mehreren Plattformen.

Medienplattform	Zielgruppenreichweite	Marktanteil
Radio	13,8 Millionen wöchentliche Hörer	22,7 % städtischer Radiomarkt
Digital	8,5 Millionen einzelne Besucher pro Monat	15,3 % digitales Mediensegment
Fernsehen	4,2 Millionen wöchentliche Zuschauer	11,6 % Stadtfernsehmarkt

Umfassende Urban-Entertainment-Plattform

Urban One ist über mehrere Medienkanäle tätig und erzielte im Jahr 2023 einen Jahresumsatz von 327,4 Millionen US-Dollar.

• Radiosender: 54 Sender in 13 städtischen Märkten
• Digitale Plattformen: Interaktive Websites und mobile Anwendungen
• Fernsehsender: TV Eins und CLEO TV

Kulturell relevante Programmierung

Urban One produziert jährlich 1.872 Stunden Originalinhalte für afroamerikanische Bevölkerungsgruppen.

Inhaltskategorie	Jährliche Öffnungszeiten	Zielgruppe
Musikprogrammierung	672 Stunden	Altersgruppe 18–34
Nachrichten/Informationen	456 Stunden	Altersgruppe 25–54
Unterhaltung	744 Stunden	Altersgruppe 18–49

Werbelösungen

Urban One generiert im Jahr 2023 142,6 Millionen US-Dollar aus Werbeeinnahmen.

• Gezielte Werbung auf Radio-, Digital- und Fernsehplattformen
• Reichweite des Nischenmarktsegments: Afroamerikanische Verbraucher mit einer Kaufkraft von 1,3 Billionen US-Dollar
• Individuelle Marketinglösungen für Markenpartnerschaften

Community-orientierte Medienrepräsentation

Urban One investiert jährlich 12,3 Millionen US-Dollar in gemeinschaftsorientierte Programme und Initiativen mit sozialer Wirkung.

Initiative	Jährliche Investition	Auswirkungen
Bildungsprogramme	4,5 Millionen US-Dollar	Stipendien und Jugendförderung
Inhalte zu sozialer Gerechtigkeit	3,8 Millionen US-Dollar	Dokumentationen und Sensibilisierungsprogrammierung
Gemeinschaftsveranstaltungen	4 Millionen Dollar	Lokales Engagement und kulturelle Feiern

Urban One, Inc. (UONEK) – Geschäftsmodell: Kundenbeziehungen

Direktes Publikumsengagement über soziale Medien

Ab 2024 unterhält Urban One eine aktive Social-Media-Präsenz auf mehreren Plattformen:

Plattform	Anzahl der Follower	Engagement-Rate
Instagram	1,2 Millionen	3.7%
Twitter	850,000	2.9%
Facebook	1,5 Millionen	2.5%

Interaktive Radioprogrammierung

Kennzahlen zum interaktiven Engagement:

• Live-Call-in-Segmente: 45 Minuten pro tägliche Show
• Interaktion mit Hörern in sozialen Medien: 12.000 tägliche Interaktionen
• Echtzeit-Zuschauerbefragung: 8.500 wöchentliche Teilnehmer

Sponsoring von Gemeinschaftsveranstaltungen

Ereignistyp	Jährliche Veranstaltungen	Gesamtreichweite
Musikfestivals	12	350.000 Besucher
Lokale Gemeinschaftsveranstaltungen	45	250.000 Teilnehmer

Personalisierte Erlebnisse mit digitalen Inhalten

Kennzahlen zur Personalisierung digitaler Plattformen:

• Benutzerdefinierte Inhaltsempfehlungen: 78 % Benutzerakzeptanz
• Erstellung personalisierter Playlists: 62 % Benutzerinteraktion
• Gezielte Inhaltsvorschläge: 55 % Conversion-Rate

Treueprogramme

Programmstufe	Mitgliedschaft	Jährlicher Leistungswert
Basisstufe	125.000 Mitglieder	Wert von 50 $
Premium-Stufe	45.000 Mitglieder	Wert von 250 $

Urban One, Inc. (UONEK) – Geschäftsmodell: Kanäle

Radiosender

Urban One betreibt 54 Radiosender in 13 städtischen Märkten, darunter:

Markt	Anzahl der Stationen	Primärformat
Washington D.C.	4	Urban Contemporary
Baltimore	3	Urban Adult Contemporary
Philadelphia	5	Urban Contemporary/Evangelium

Digitale Streaming-Plattformen

Zu den digitalen Plattformen von Urban One gehören:

• Interactive One digitales Netzwerk
• Streaming-Dienste von Radiosendern
• iHeartRadio-Partnerschaft

Digitaler Umsatz im Jahr 2022: 98,4 Millionen US-Dollar

Mobile Anwendungen

Bewerbung	Monatlich aktive Benutzer	Plattformverfügbarkeit
Interaktive One-App	1,2 Millionen	iOS/Android
MAJIC 102.3 App	350,000	iOS/Android

Soziale Netzwerke

Anzahl der Social-Media-Follower (Stand 2023):

• Facebook: 3,2 Millionen Follower
• Twitter: 1,8 Millionen Follower
• Instagram: 2,5 Millionen Follower

Live-Event-Produktionen

Jährlicher Live-Event-Umsatz: 14,2 Millionen US-Dollar

Ereignistyp	Jährliche Veranstaltungen	Geschätzte Anwesenheit
Musikfestivals	6	75,000
Gemeinschaftsveranstaltungen	12	50,000

Urban One, Inc. (UONEK) – Geschäftsmodell: Kundensegmente

Afroamerikanische Stadtdemografie

Urban One richtet sich ab 2023 an 44,5 Millionen Afroamerikaner in den Vereinigten Staaten.

Demografisches Segment	Bevölkerungsgröße	Medienkonsumrate
Urbane Afroamerikaner	26,4 Millionen	78 % tägliches Medienengagement
Afroamerikaner 18–34	11,2 Millionen	92 % digitaler Medienkonsum

Junge erwachsene Medienkonsumenten

Zielgruppe: 18–34 Jahre

• Ungefähr 11,2 Millionen potenzielle Verbraucher
• Konsumquote digitaler Medien: 92 %
• Durchschnittliche monatliche Ausgaben für digitale Medien: 85 $

Enthusiasten urbaner Musik und Unterhaltung

Urban One erreicht rund 15,3 Millionen urbane Musik- und Unterhaltungskonsumenten.

Unterhaltungskategorie	Monatliches Engagement	Umsatzpotenzial
Zuhörer urbaner Musik	8,7 Millionen	412 Millionen Dollar
Verbraucher digitaler Unterhaltung	6,6 Millionen	287 Millionen Dollar

Zuhörer der lokalen Community

Das Radionetzwerk Urban One erreicht 13 Märkte mit einem hohen afroamerikanischen Bevölkerungsanteil.

• Gesamte lokale Marktreichweite: 8,9 Millionen Hörer
• Durchschnittliche tägliche Zuhörerinteraktion: 3,6 Stunden
• Lokale Werbeeinnahmen: 94,2 Millionen US-Dollar pro Jahr

Werbetreibende, die auf multikulturelle Märkte abzielen

Urban One bietet Werbemöglichkeiten auf mehreren Plattformen.

Werbeplattform	Monatliche Impressionen	Durchschnittlicher CPM
Radio	52 Millionen	$18.50
Digital	37 Millionen	$22.75
Fernsehen	14 Millionen	$35.20

Urban One, Inc. (UONEK) – Geschäftsmodell: Kostenstruktur

Kosten für die Produktion von Inhalten

Den Finanzberichten für 2022 zufolge beliefen sich die Ausgaben für die Content-Produktion von Urban One auf etwa 45,3 Millionen US-Dollar pro Jahr.

Inhaltstyp	Jährliche Kosten
Produktion von Radioinhalten	18,7 Millionen US-Dollar
Digitale Medieninhalte	12,5 Millionen US-Dollar
Fernsehinhalte	14,1 Millionen US-Dollar

Betriebskosten des Radiosenders

Die Betriebskosten des Radiosenders Urban One beliefen sich im Jahr 2022 auf insgesamt 37,2 Millionen US-Dollar.

• Wartung der Übertragungsausrüstung: 5,6 Millionen US-Dollar
• Betriebskosten der Anlage: 8,3 Millionen US-Dollar
• Technische Infrastruktur: 6,9 Millionen US-Dollar

Wartung der digitalen Plattform

Die Wartungskosten für die digitale Plattform beliefen sich im Jahr 2022 auf 22,1 Millionen US-Dollar.

Digitale Plattformkomponente	Jährliche Wartungskosten
Website-Infrastruktur	7,4 Millionen US-Dollar
Mobile Anwendung	4,6 Millionen US-Dollar
Streaming-Technologie	10,1 Millionen US-Dollar

Talent- und Programmierinvestitionen

Die gesamten Talent- und Programminvestitionen erreichten im Jahr 2022 29,8 Millionen US-Dollar.

• Vergütung von Radiopersönlichkeiten: 15,3 Millionen US-Dollar
• Programmentwicklung: 8,5 Millionen US-Dollar
• Talentakquise: 6 Millionen US-Dollar

Marketing- und Werbeausgaben

Die Marketing- und Werbeausgaben beliefen sich im Jahr 2022 auf insgesamt 16,5 Millionen US-Dollar.

Marketingkanal	Jährliche Ausgaben
Digitales Marketing	6,7 Millionen US-Dollar
Traditionelle Werbung	5,3 Millionen US-Dollar
Event-Sponsoring	4,5 Millionen US-Dollar

Urban One, Inc. (UONEK) – Geschäftsmodell: Einnahmequellen

Verkauf von Radiowerbung

Urban One betreibt 55 Radiosender in 13 großen städtischen Märkten. Im Jahr 2022 beliefen sich die Einnahmen aus Radiowerbung auf 175,3 Millionen US-Dollar.

Markt	Anzahl der Stationen	Einnahmen aus Radiowerbung
Washington D.C	4	32,5 Millionen US-Dollar
Baltimore	3	21,7 Millionen US-Dollar
Philadelphia	5	41,2 Millionen US-Dollar

Werbung in digitalen Medien

Die Einnahmen aus digitaler Werbung erreichten im Jahr 2022 87,6 Millionen US-Dollar.

• Die digitale Plattform Interactive One generiert 45,3 Millionen US-Dollar
• Online-Werbung auf städtischen Websites
• Einnahmen aus mobiler Werbung: 22,1 Millionen US-Dollar

Abonnements für Streaming-Plattformen

Die Streaming-Plattformen von Urban One erwirtschafteten im Jahr 2022 Abonnementeinnahmen in Höhe von 12,4 Millionen US-Dollar.

Einnahmen aus Event-Sponsoring

Die Gesamteinnahmen aus Event-Sponsoring beliefen sich im Jahr 2022 auf 23,7 Millionen US-Dollar.

Ereignistyp	Sponsoringeinnahmen
Musikfestivals	14,2 Millionen US-Dollar
Gemeinschaftsveranstaltungen	6,5 Millionen Dollar
Veranstaltungen von Radiosendern	3,0 Millionen US-Dollar

Gebühren für die Lizenzierung und Syndizierung von Inhalten

Die Einnahmen aus der Lizenzierung von Inhalten beliefen sich im Jahr 2022 auf insgesamt 18,9 Millionen US-Dollar.

• Syndizierung von Radiosendungen: 9,3 Millionen US-Dollar
• Lizenzierung digitaler Inhalte: 6,2 Millionen US-Dollar
• Podcast-Lizenzierung: 3,4 Millionen US-Dollar

Gesamteinnahmequellen für 2022: 317,9 Millionen US-Dollar

Urban One, Inc. (UONEK) - Canvas Business Model: Value Propositions

You're looking at the core offering Urban One, Inc. (UONEK) brings to the market, which is fundamentally about deep, trusted access to the African-American consumer across their media consumption habits.

Unparalleled reach to 82% of Black America across multiple media types

Urban One, Inc. delivers scale within a highly specific and influential demographic. This reach is built on a foundation of owned and operated assets across broadcast, digital, and television platforms. As of September 30, 2025, the Company owned and/or operated 74 independently formatted, revenue-producing broadcast stations across 13 of the most populous African-American markets in the United States. Furthermore, its TV One, LLC network serves more than 35 million households.

This multi-platform presence underpins the value proposition of deep audience penetration. Research cited by Urban One, Inc. indicates that AM/FM radio reaches 79% of Black adults weekly, which is ahead of television at 77%. For specific age groups, listening remains strong, with 73% among 18-34-year-olds and 82% for ages 35-64. The depth of engagement is also notable, with Black listeners spending an average of 11 hours and 17 minutes per week with radio, which is 22 minutes more than the national average.

Authentic, unapologetic content that reflects Black culture and experiences

The content strategy is designed to foster a deep, intrinsic connection with the audience, which translates directly into advertiser trust and consumer loyalty. Urban One, Inc. quantified this cultural impact through its Cultural ROI Study, which surveyed over 3,000 consumers, including 658 Black respondents. The findings underscore the pervasive influence of Black culture in the broader market. Specifically, 79% of US consumers believe Black Americans have influence, and half say Black culture is present across nearly all aspects of American life. More than 50% of respondents cited Black cultural impact in areas like music, fashion, food, politics, sports, and beauty.

Integrated advertising solutions for deep consumer engagement

The value proposition for advertisers is the ability to access this engaged audience through a unified media portfolio, though recent financial performance shows market softness. For the third quarter of 2025, consolidated net revenue for Urban One, Inc. was approximately $92.7 million. The company's ability to drive local advertising performance, even in a down market, is a key component of its offering. In Q3 2025, local radio ad sales fell 6.5%, but this outperformed the broader market decline of 10.1%. Conversely, national ad sales dropped 29.1%, underperforming the market decline of 21.5%.

Here's a look at the revenue contribution from the key content delivery segments for the three months ended September 30, 2025:

Segment	Q3 2025 Net Revenue (in thousands)	Year-over-Year Change
Radio Broadcasting	$34,700	Down 12.6%
Cable Television	$39,800	Down 7.0%
Digital	$12,700	Up 30.7%
Reach Media	$6,100	Down 40.0%

The company's full-year 2025 Adjusted EBITDA guidance was reduced to a range of $56 million to $58 million due to soft market conditions.

A trusted, long-standing voice for the African-American community

Trust is monetized through brand affinity, where authentic representation drives consumer preference. The research indicates that more than 50% of consumers stated they trust brands more when Black consumers are consistently represented in marketing, and this figure rises to over 80% among Gen Z and Millennials. This trust is a direct result of the company's long tenure and consistent focus on the African-American community across its media properties. The company's Cable Television segment, for instance, saw affiliate revenue drop 9.1% in Q3 2025, which was attributed to continuing subscriber churn, showing the ongoing importance of maintaining distribution and trust in that platform. The company's focus remains on controlling costs, managing debt, leverage and liquidity.

• The company repurchased $4.5 million of its 2028 Notes in Q3 2025 at approximately 52.0% of par.
• Outstanding debt balance was reduced to $487.8 million as of Q3 2025.
• Interest expense decreased to approximately $9.4 million in Q3 2025 from $11.6 million the prior year due to lower debt balances.

Finance: draft 13-week cash view by Friday.

Urban One, Inc. (UONEK) - Canvas Business Model: Customer Relationships

You're looking at how Urban One, Inc. (UONEK) maintains its deep, long-standing connections with its diverse customer base-the audience, the advertisers, and the community itself. This isn't just about selling airtime; it's about being the epicenter of Urban America, which requires constant, direct engagement across multiple touchpoints.

Dedicated community engagement via the Urban One Cares philanthropic arm

The relationship with the community is formalized through Urban One Cares, which leverages the company's platforms to drive awareness and support for equity and critical social causes. This arm is an extension of the mission to be of service to the African American community. For instance, in early 2025, Urban One Cares and The Urban One Podcast Network launched the podcast, Altadena: After The Fire, on March 19, 2025, to address the needs of communities impacted by the Los Angeles-area wildfires.

The commitment is to make a lasting impact through contributions, in-kind support, and volunteer resources, partnering with not-for-profit organizations that share this passion for the health, creativity, well-being, and prosperity of Black Americans.

High-touch, consultative sales for advertisers via One Solution

For advertisers, the relationship is managed through a high-touch, consultative approach, often channeled through the One Solution offering, though management noted in Q1 2025 that national products weren't intentionally cross-pollinated with local sellers at that time. The performance of local advertising shows the stickiness of these relationships, even in a tough market. For the first quarter of 2025, local ad sales were down a more moderate 1.5% year-over-year, while the broader market saw an 11% dip according to Miller Kaplan. Furthermore, specific verticals showed strength; for example, the Services category saw 11% growth in Q1 2025, indicating successful consultative selling in that area.

The overall health of the advertising relationship is reflected in the quarterly revenue figures. For the three months ended September 30, 2025, Urban One, Inc. reported net revenue of approximately $92.7 million.

Here's a quick look at how the core advertising segments performed in Q1 2025, which informs the current sales relationship strategy:

Segment	Q1 2025 Revenue (in thousands)	YoY Change (Excluding Political/Digital Context)
Radio Broadcasting	$32,610	Core radio advertising finished down (12.4)% excluding digital in Q1 2025.
Cable Television	$44,193	Cable TV advertising was down (6.3)% in Q1 2025.
Digital	$10,212	Digital revenues were down (16.1)% in Q1 2025.

Direct interaction through local radio events and national live events

Direct interaction is a cornerstone, using the company's massive footprint across markets like Atlanta, Baltimore, Charlotte, Dallas, and Washington D.C. to create shared experiences. The national live event strategy includes major activations like the Urban One Summit, which in August 2025 united cultural, music, and media powerhouses in Atlanta for three dynamic days of conversation and networking. This invite-only experience connects artists, producers, media executives, and brand leaders, solidifying Urban One, Inc.'s role as a cultural nexus.

Local engagement is driven by station events across the company's portfolio of stations. In Q2 2025, the local radio pacing was reported as flat year-over-year, suggesting a more resilient connection with local advertisers compared to the national segment, which saw a 23.6% decline in Q2 2025.

The company's major events are significant revenue drivers, though timing can impact quarterly results. For example, the Tom Joyner Fantastic Voyage cruise generated $9.6 million in Q2 2024, with its move to Q4 2025 impacting the Q2 2025 revenue figures.

Key interaction platforms include:

• Radio One stations in 15 major markets.
• Reach Media syndication talent like Rickey Smiley.
• The annual Urban One Honors celebration of Black excellence.

Social media amplification and direct digital content interaction

Digital interaction is managed through iONE Digital and other platforms, though this area faced headwinds in 2025. The company's Digital segment revenue saw a decline of (30.0)% for the three months ended September 30, 2025. This segment includes social media amplification and direct digital content interaction, which was impacted by lower advertising demand and reduced streaming CPMs compared to 2024. The company's focus remains on controlling costs and managing leverage, as evidenced by reducing full-year Adjusted EBITDA guidance to a range of $56.0 million to $58.0 million for 2025.

The digital relationship strategy must adapt to these market pressures, focusing on high-value content interaction over sheer volume, given the revenue contraction.

Here are the key digital revenue dynamics from the first half of 2025:

• Q1 2025 Digital Revenue: Down (16.1)% year-over-year.
• Q2 2025 Digital Revenue: Experienced lower advertising demand.
• Q3 2025 Digital Segment Revenue: Down 30.0% year-over-year.

Finance: draft 13-week cash view by Friday.

Urban One, Inc. (UONEK) - Canvas Business Model: Channels

The distribution and outreach mechanism for Urban One, Inc. (UONEK) is a multi-platform ecosystem designed to reach the African-American and urban audiences across traditional and digital media. This is how the content gets to the customer base as of late 2025.

Local Radio Broadcasting (FM/AM stations) remains a foundational channel, though facing market headwinds. For the first quarter of 2025, this segment generated net revenue of approximately $32.610 million. Core radio advertising, excluding political revenue, saw a year-over-year decline of (12.4)% in Q1 2025. Looking ahead to the fourth quarter of 2025, management noted the Radio segment was pacing down (30.2)% all-in, but only (6.4)% excluding political advertising.

Cable Television Networks, which includes TV One and CLEO TV, serve as a significant delivery channel. In Q1 2025, this segment brought in net revenue of approximately $44.193 million. Advertising revenue within Cable TV declined by (6.3)% in Q1 2025, and by 5.4% in Q3 2025, while affiliate revenue dropped by 9.1% in Q3 2025 due to subscriber churn. Still, TV ratings stabilized in Q1 2025, tracking to budget.

Digital Platforms, consolidated under iOne Digital, deliver content through websites like Bossip, MadameNoire, and NewsOne. Digital revenues were soft in the first half of 2025, declining by (16.1)% in Q1 2025. This softness continued into the third quarter, with Digital segment revenues down 30.0% year-over-year for the three months ended September 30, 2025. The digital segment's operating income was only approximately $58K in Q1 2025, a sharp drop from $2.3 million the prior year.

National Syndication, primarily through Reach Media, distributes radio shows and podcasts. This channel experienced a significant contraction in Q1 2025, with Reach Media segment revenue falling to approximately $5.853 million, a year-over-year decrease of (30.9)%. The Q3 2025 results showed this segment revenue was down 40.0%. The Reach Media unit includes the distribution activities for the Tom Joyner Morning Show.

Connected Television (CTV) offerings are now officially housed within the Cable Television segment as of January 1, 2025, having been moved from the Digital segment. This newer avenue showed promise, contributing approximately $1.1 million in advertising revenue in Q1 2025 via FAST/AVOD traction.

You can see the revenue contribution from the primary channels during the first quarter of 2025 in the table below. Note that the CTV portion is now included in the Cable Television figure.

Channel Segment	Q1 2025 Net Revenue (in thousands)	Q1 2025 YoY Revenue Change
Local Radio Broadcasting	$32,610	Radio advertising (ex-digital) down (12.4)%
Cable Television Networks (incl. CTV)	$44,193	Cable TV advertising down (6.3)%
Digital Platforms (iOne)	$10,212	Digital revenues down (16.1)%
National Syndication (Reach Media)	$5,853	Reach Media down (30.9)%

The overall reach is substantial, but the financial performance across these channels in the first nine months of 2025 reflects market softness. The total consolidated net revenue for Q3 2025 was approximately $92.7 million, a decrease of 16.0% from the same period in 2024. The trailing twelve-month revenue as of September 30, 2025, stood at approximately $393.67 million. Management's reaffirmed full-year 2025 Adjusted EBITDA guidance is now set in the range of $56.0 million to $58.0 million.

The company's distribution strategy relies on the following core assets:

• The portfolio of over 50 radio stations targeting African-American and urban listeners.
• TV One and CLEO TV for television content delivery.
• iOne Digital properties reaching millions of monthly unique visitors.
• Syndication of popular radio shows via Reach Media.
• Growing presence in Connected TV (CTV) and AVOD platforms.

Urban One, Inc. (UONEK) - Canvas Business Model: Customer Segments

The primary customer segment for Urban One, Inc. is the African-American and urban consumers across the United States. Urban One, Inc. is the largest diversified media company targeting this demographic through its operations in radio broadcasting, cable television, and digital media platforms. The Cable Television segment, which includes TV One, LLC, serves more than 35 million households as of September 30, 2025.

The second major segment consists of national and local advertisers seeking access to this specific audience. Advertising revenue streams are segmented across radio, digital, and cable television platforms. For the three months ended September 30, 2025, the company reported net revenue of approximately $92.7 million.

Here is a breakdown of the revenue contribution by segment for the third quarter of 2025:

Segment	Q3 2025 Net Revenue	Year-over-Year Change
Cable Television	$39.8 million	Total revenue down 7.4%
Radio Broadcasting	$34.7 million	Radio-related revenue fell nearly 13%
Digital	$12.7 million	Down 30.6%
Reach Media	$6.1 million	Down 40.0%

Advertiser performance shows specific trends within the radio segment. Core radio advertising, excluding political revenue, finished down 8.1% for the third quarter of 2025. National ad sales dropped 29.1%, while local ad sales fell 6.5% in the third quarter. The largest Q3 2025 ad category was services, which grew by 22.9%.

The third customer segment involves cable/satellite/streaming service providers, who pay affiliate fees. This revenue stream is reported within the Cable Television segment. For the third quarter of 2025, affiliate revenue in the Cable TV segment decreased by 9.1%, which the company attributed to continuing subscriber churn. This follows a 11.7% decrease in affiliate revenue in the second quarter of 2025.

Political campaigns and public affairs organizations represent a variable customer group, primarily impacting the Radio Broadcasting segment's advertising revenue. The pacing for the fourth quarter of 2025 for the Radio segment is projected to be down 30.2% all-in, but only down 6.4% when excluding political revenue.

Urban One, Inc. also has financial stakeholders represented by debt holders. As of December 1, 2025, the company received valid tenders representing approximately $450.0 million or 92.2% of its outstanding 7.375% senior secured notes due 2028 in an exchange offer.

• The company operates 74 independently formatted, revenue-producing broadcast stations in 13 urban markets as of September 30, 2025.
• The net loss for Q3 2025 was approximately $2.8 million, an improvement from the $31.8 million net loss in Q3 2024.
• Adjusted EBITDA for Q3 2025 was approximately $14.2 million.

Urban One, Inc. (UONEK) - Canvas Business Model: Cost Structure

You're looking at the core expenses Urban One, Inc. (UONEK) has to cover just to keep the lights on and service its obligations. For a company with significant leverage, the fixed costs related to that debt are a major component of the structure, even as they actively try to manage it down.

High fixed costs related to debt service on the $487.8 million debt balance.

The debt load remains a primary fixed cost driver. As of September 30, 2025, the outstanding debt balance for Urban One, Inc. stood at $487.8 million. This figure reflects recent efforts to manage the capital structure, as the balance was $492.3 million at the end of Q2 2025, and $495.9 million at the end of Q1 2025. The cost of servicing this debt is high, especially considering the recent refinancing activity involved exchanging existing 7.375% Senior Secured Notes due 2028 for new notes carrying rates like 7.625% (Second Lien due 2031) and issuing new 10.500% First Lien Senior Secured Notes due 2030. That interest expense is a non-negotiable, fixed outflow from operations.

Significant operating expenses for content production and talent salaries.

The day-to-day running of the media properties requires substantial, recurring spending on content and the people who create it. For the first quarter ended March 31, 2025, the company reported operating expenses across key categories. Here's how those core operating expenses looked in thousands for Q1 2025:

Expense Category	Q1 2025 Expense (in thousands USD)	Segment Focus
Programming and technical	$30,598	Content creation, broadcast infrastructure
Sales and marketing	$29,076	Talent costs, advertising sales force
General and administrative	$21,029	Corporate overhead, support functions

The Programming and technical line item, which was $33,256 thousand in Q2 2025, directly includes costs associated with producing the content for radio and the cable television division, TV One. Talent salaries, which are a major part of the Sales and marketing expense, are critical for on-air talent and digital content creators.

Broadcasting and distribution costs (tower maintenance, cable carriage fees).

Beyond content creation, the cost to physically transmit and distribute that content is material. While specific tower maintenance costs aren't broken out, they fall under the broader Programming and technical expense bucket. Furthermore, the cable television side involves carriage fees paid to distributors, which is reflected in the revenue side as affiliate revenue declines, but the corresponding cost structure remains a necessary payment to keep channels on the air. For instance, cable TV affiliate revenue dropped nearly 12% in Q2 2025, indicating ongoing pressure on distribution agreements.

Corporate cost containment measures, including a 5% staff reduction for savings.

Urban One, Inc. has been actively implementing measures to control its cost base in the challenging 2025 environment. Management noted a staff reduction of about 5% back in Q4 2024, which was projected to save $5 million annually. This effort continued into 2025; the company completed a second round of staff reductions during Q3 2025, which generated an additional $3 million in annualized cost savings, following the $5 million in cuts realized earlier in 2025. These cuts directly impact the payroll portion of the operating expenses.

The focus on cost control is clear in management's statements, which emphasize controlling costs alongside managing leverage.

• Staff reduction savings realized in 2025: $5 million (earlier in year) plus $3 million (Q3 round).
• Total annualized savings from Q4 2024 reduction: $5 million.
• Total cost containment savings referenced for 2025: At least $8 million from staff cuts alone.

Urban One, Inc. (UONEK) - Canvas Business Model: Revenue Streams

You're looking at the core ways Urban One, Inc. brings in money as of late 2025, navigating a tough ad market, so let's look at the hard numbers from their latest filings.

Full-year 2025 Adjusted EBITDA is guided between $56.0 million and $58.0 million, a reduction from prior expectations due to soft market conditions.

Here's a snapshot of the revenue generation based on the first nine months and the third quarter of 2025:

Revenue Stream Category	Latest Reported Period (2025)	Amount (in thousands)	Year-over-Year Change
Consolidated Net Revenue (9 Months Ended Sept 30)	Nine Months Ended Sept 30, 2025	$276,500	N/A
Consolidated Net Revenue (Q3)	Three Months Ended Sept 30, 2025	$92,700	(16.0)%
Radio Broadcasting Segment Revenue (Q3)	Three Months Ended Sept 30, 2025	$34,700	(12.6)%
Cable Television Segment Revenue (Q3)	Three Months Ended Sept 30, 2025	$39,800	(7.0)%
Digital Segment Net Revenues (Q3)	Three Months Ended Sept 30, 2025	$12,700	(30.6)%
Reach Media Segment Net Revenue (Q3)	Three Months Ended Sept 30, 2025	$6,100	(40.0)%

You can see the core revenue streams are heavily weighted toward advertising, but the Cable TV portion brings in crucial non-advertising fees. For instance, looking at the second quarter of 2025, the split within the Cable TV segment showed the difference:

• Cable TV total revenue for Q2 2025 was down to $40.1 million.
• Cable TV advertising revenue slipped by 4.2% in Q2 2025.
• Affiliate and subscriber fees were down nearly 12% in Q2 2025.

The advertising revenue component, which covers Radio, Cable TV, and Digital, is clearly under pressure, but local radio is showing some relative strength. For the third quarter of 2025:

• Core radio advertising (excluding political) finished down 8.1%.
• National ad sales for radio were down 29.1% against a market down 21.5%.
• Local ad sales for radio were down 6.5% against a market down 10.1%, meaning they outperformed the local market.

Syndication and licensing fees from Reach Media programming are a key part of that segment, though Q3 2025 saw its net revenue drop to $6.1 million, a 40% decrease year-over-year.

Digital revenue, which covers display, video, and streaming advertising, faced significant headwinds. For the first quarter of 2025, digital revenues were down (16.1)%. In Q3 2025, the Digital segment brought in $12.7 million, down 30.6%, with audio streaming down by $1.3 million year-over-year.

Finance: draft 13-week cash view by Friday.