Cumulus Media Stock Price, News & Analysis

Cumulus Media (NASDAQ: CMLS) is launching a new audio series, Your Music First, featuring Shania Twain and her latest single, “Giddy Up!”. This initiative highlights exclusive insights from Twain, the best-selling female artist in Country music history, across 21 Adult Contemporary radio stations. The series aims to give listeners a behind-the-scenes look at new music and the artist's personal journey. The campaign is in collaboration with Republic Records and will increase engagement with core audiences. Twain is set to kick off her Queen of Me Tour on April 28, 2023, across North America and Europe.

Cumulus Media's (NASDAQ: CMLS) Westwood One announces a comprehensive broadcast schedule featuring 23 NCAA Championship games from March 4-12, 2023. This includes 20 men's games and three women's games, marking it as the exclusive audio home for NCAA basketball tournaments. Key broadcasts include the Ohio Valley Conference Championship and Selection Sunday, which reveals the 68-team field for both tournaments. The coverage is enhanced by experienced hosts and analysts, ensuring rich listener engagement during this crucial postseason period.

Cumulus Media (NASDAQ: CMLS) launched Mark Levin’s official podcast channel on YouTube, @marklevinshow, on February 27, 2023. The channel provides fresh daily content, featuring segments such as Mark Levin Audio Rewind, Mark’s Take on History, Newsmaker Interviews, and America’s Election Coverage, along with Shorts on current issues. Levin expressed excitement about reaching new audiences and sharing his audio library creatively. Cumulus Media is known for its extensive audio programming across 404 radio stations and a variety of entertainment and news content, impacting over a quarter billion listeners monthly.

Cumulus Media (NASDAQ: CMLS) has re-launched the iconic 99X morning show as “The Morning X with Barnes & Leslie,” co-hosted by original duo Steve Barnes and Leslie Fram. This comes after a significant fan response to the 99X museum website celebrating the station's 30th anniversary. The show now airs weekdays from 6-10 a.m. ET, featuring new content alongside classic segments. Following its revival in December 2022, the station's ratings have surged, ranking among Atlanta's top ten stations. The popular podcast previously known as The Pop Culture Show has also rebranded and integrates with the Cumulus Podcast Network.

Cumulus Media reported a total revenue of $953.5 million for the year ending December 31, 2022, marking a 4% year-over-year increase. Digital revenue surpassed $142 million, up 12%. However, net income decreased by 6% to $16.2 million. The Adjusted EBITDA rose 23% to $166.0 million. Cumulus focused on reducing debt, achieving a net leverage ratio of 3.7x, its lowest in over a decade, and repurchased shares totaling approximately 12.1% of its common shares. Despite economic challenges, the company expressed confidence in navigating future opportunities.

Cumulus Media (NASDAQ: CMLS) released a new study through Westwood One’s Audio Active Group®, highlighting the NCAA March Madness AM/FM radio audience as a highly engaged consumer group. The 2022 data indicates these listeners are primarily younger, full-time workers who exhibit a significant passion for college basketball. The study found that they frequently attend sporting events, seek sports information via mobile devices, and are likely to participate in fantasy sports. Moreover, this group demonstrates high purchase intent in key consumer categories, such as vehicles, insurance, and housing, improving advertising effectiveness.

Cumulus Media (NASDAQ: CMLS) announces its 50th Super Bowl broadcast with Westwood One, covering Super Bowl LVII on February 12, 2023. The network will feature play-by-play from Kevin Harlan and analysis by Kurt Warner, alongside other prominent sports figures. Coverage will start at 2:00 p.m. ET and includes pregame, halftime, and postgame shows. The broadcast will be available on around 600 radio stations, SiriusXM, and via NFL platforms, reaching over 56 million listeners each season. This event marks Westwood One's 36th consecutive year as the NFL's official audio broadcast partner.

Cumulus Media (NASDAQ: CMLS) has launched a new audio series, Your Music First, across 47 Country radio stations in the U.S., starting with Thomas Rhett’s new single, Angels (Don’t Always Have Wings). This multi-week series aims to provide fans with exclusive insights from artists about their songs, enhancing music curation. Greg Frey, VP of Music Partnerships, emphasized the program's unique approach to connecting listeners with new music. The series will feature up to six artist segments per format throughout 2023, highlighting the collaboration with Big Machine Label Group and aiming to elevate listener engagement.

Cumulus Media (NASDAQ: CMLS) will hold a conference call on February 23, 2023, at 8:30 AM ET to discuss its fourth quarter and full year 2022 operating results, with a press release available at 8:00 AM ET. Interested participants must register via a provided link, with an invitation sent post-registration, including access details. The call will also be accessible live on the company's investor relations website and will be recorded for later access. Cumulus Media engages a wide audience with over 405 radio stations and offers nationally syndicated content, including sports and entertainment programming.