Cumulus Media closed out its first full quarter since emerging from bankruptcy with another revenue decline. Moreover, the radio and podcast company’s Q2 2026 results show ongoing pressure across its core broadcast business.
What we know: Cumulus Media reported its second quarter 2026 financial results, covering the three months ended June 30, 2026. The results mark the company’s second reporting period since completing its Chapter 11 restructuring earlier this year, with the numbers showing continued softness in traditional broadcast advertising even as losses narrowed year-over-year.
What the numbers show:
| Category | Q2 2026 | Q2 2025 | % Change |
|---|---|---|---|
| Net Revenue | $167,907 | $186,017 | ▼ (9.7)% |
| Broadcast Radio Revenue | $102,861 | $118,437 | ▼ (13.2)% |
What They Said: We are pleased to report our second quarter earnings. With our plan of reorganization confirmed by the court and the FCC approval process well underway, we are positioned to emerge from Chapter 11 with a stronger balance sheet to capitalize on future market opportunities.” –Cumulus CEO Mary Berner
What It means: Cumulus continues to grapple with the broader erosion of terrestrial radio advertising, particularly in spot and network revenue. The relative resilience of digital revenue offers a bright spot. Moreover, it isn’t yet large enough to offset broadcast declines, leaving Adjusted EBITDA down sharply and underscoring how much work remains as the company tries to translate its post-bankruptcy balance sheet into operational momentum.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.