Urban One, Inc. Announces Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2020
January 07, 2021 at 08:52 am EST
Share
Urban One, Inc. announced earnings guidance for the fourth quarter and full year ended December 31, 2020. For the quarter, The company expects consolidated net revenues to be between $110 million and $114 million, an increase of 3.9% to 7.7% year over year.
For the full year, The company expects consolidated net revenues to be between $373 million and $377 million compared to $436.9 million in 2019, a decrease of 14.6% to 13.7% year over year.
Urban One, Inc. is an urban-oriented, multi-media company. The Companyâs core business is its radio broadcasting franchise, which is a radio broadcasting operation that primarily targets African American and urban listeners. The Company operates through four segments: Radio Broadcasting, Cable Television, Reach Media, and Digital. The Radio Broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the related activities and operations of its syndicated shows. The Digital segment includes the results of its online business, including the operations of Interactive One, as well as the digital components of its other segments. The Cable Television segment consists of the Companyâs cable television (TV) operation, including the results of operations of TV One and CLEO TV. The Company owns and/or operates over 66 independently formatted broadcast stations located in 13 African American markets in the United States.
URBAN ONE, INC. 
