Urban One reported second quarter revenue rose 10.4% to $118.8 million. The company saw $107.5 million in revenue during the same time period in 2021.
“We had a strong finish to Q2, driven by continued robust growth in digital and cable television advertising, both of which were up double digits,” Urban One President and CEO Alfred Liggins III said. “Our spot radio business outperformed the markets in which we operate by 230 Bps, and I was pleased with our overall 10.4% revenue growth, as a result of which we were able to post adjusted EBITDA growth of 6.1% y-o-y.”
He also added, similar to other media companies, a third-quarter slowdown is expected, but with diversified holdings, revenue growths during the quarter are still expected.
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