Urban One Reports Better Q4 Results
Urban One’s net revenue for Q4 was $113.5 million, 7.3% better than the same period in 2019, reported the company Thursday. Its "extremely strong" Q4 was "driven by record levels of political advertising and strong demand for our digital and…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
cable TV advertising inventory,” said CEO Alfred Liggins. Urban One is “in a strong position to take advantage of the anticipated economic recovery post COVID-19," he said. The pandemic affected Urban One’s businesses “throughout 2020,” the release said. Urban One’s radio divisions were hit particularly hard by advertising reductions in areas considered COVID-19 hot spots, the release said. The outbreak also caused a planned cruise to be postponed and “impaired” ticket sales of special events. “We do not carry business interruption insurance to compensate us for losses that occurred in 2020 and such losses may continue to occur” because of the ongoing pandemic, the release said.