Cumulus Media Inc
NASDAQ:CMLS
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Cumulus Media Inc
Cumulus Media, Inc. engages in the business of radio broadcasting. The company is headquartered in Atlanta, Georgia and currently employs 2,588 full-time employees. The company went IPO on 2018-06-04. The firm engages its listeners with local programming through approximately 412 owned and operated stations across 86 markets, delivering nationally syndicated sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and other partners across nearly 7,300 affiliated stations through Westwood One, which is an audio network in America. The firm provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, influencers, service audio solutions, industry-leading research and insights, and live event experiences.
Cumulus Media, Inc. engages in the business of radio broadcasting. The company is headquartered in Atlanta, Georgia and currently employs 2,588 full-time employees. The company went IPO on 2018-06-04. The firm engages its listeners with local programming through approximately 412 owned and operated stations across 86 markets, delivering nationally syndicated sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and other partners across nearly 7,300 affiliated stations through Westwood One, which is an audio network in America. The firm provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, influencers, service audio solutions, industry-leading research and insights, and live event experiences.
Revenue Decline: Total revenue fell 11.5% in Q3, or 5% excluding political and certain content impacts, in line with prior guidance.
Digital Growth: Digital Marketing Services (DMS) revenue grew 34% year-over-year, with digital revenue up over 8% when excluding specific losses.
Cost Reductions: The company cut $7 million in annualized costs this quarter, totaling $20 million in year-to-date savings.
Broadcast Headwinds: Broadcast and network business continued to face significant advertising and market headwinds, with network revenue down 27%.
AI & Efficiency: Management highlighted ongoing AI initiatives and outsourcing to drive further efficiency gains.
Liquidity Position: Cumulus ended the quarter with $90 million in cash and $109 million in total liquidity.
Q4 Outlook: Revenue trends are expected to continue, pacing down mid-single digits excluding certain impacts, and mid- to high teens when including them.
