Cumulus Media Stock Price, News & Analysis

Cumulus Media has partnered with YAP Media to monetize, market, and distribute its podcast content. The collaboration brings Young and Profiting, the flagship podcast hosted by Hala Taha, to the Cumulus Podcast Network. This highly-rated podcast covers entrepreneurship and career improvement, releasing episodes multiple times weekly. Additional podcasts from YAP Media will also be included in the network, enhancing Cumulus Media's podcast offerings and reach in the audio market.

Cumulus Media (NASDAQ: CMLS) announced that its Westwood One network will provide exclusive play-by-play coverage of the NFL's primetime games and postseason for the 2022-2023 season. This marks the 36th year as the NFL's exclusive radio partner and the 50th Super Bowl broadcast. Games will air on affiliated digital platforms, the NFL App, and westwoodonesports.com. Notable broadcasters include Kevin Harlan and Kurt Warner. The season kicks off on September 8, 2022, with the Rams vs. Bills and includes extensive coverage across hundreds of radio stations.

Cumulus Media (NASDAQ: CMLS) has released an analysis demonstrating that tailored political ads on AM/FM radio significantly enhance voter engagement. Key findings indicate that station-specific ads achieved a +9% lift in voter intent compared to generic ads at +7%. Swing voters showed a preference for these targeted ads, with a notable 82% reach among them. Allocating just 10% of a political campaign's media budget to AM/FM radio can boost voter reach by +8%. Candidate-voiced ads generated a +6% increase in voter intention, outperforming both professional voiceovers and benchmarks.

Cumulus Media has renewed and expanded its partnership with TuneIn, enhancing access to audio content for over 75 million monthly users. The agreement includes 24/7 streams from Cumulus' 405 local stations across 86 U.S. markets and adds 325 popular podcasts from the Cumulus Podcast Network to the TuneIn platform. This collaboration aims to improve content delivery and audience engagement, aligning with Cumulus’ audio-first strategy. Key podcasts include titles like The Ticket Top 10 and Second Date Update.

Cumulus Media (NASDAQ: CMLS) appointed Greg Frey as VP, Music Partnerships, a new division aimed at enhancing collaborations with artists, labels, and promoters. Frey, a 12-year veteran at Cumulus, will lead a team focused on developing music marketing partnerships across Cumulus's 300+ music stations and digital platforms. Chief Content Officer Brian Philips expressed confidence in Frey’s leadership skills, which are expected to drive value in the music industry and create new revenue opportunities for Cumulus.

Cumulus Media (NASDAQ: CMLS) appointed Deborah Farrington, co-founder of StarVest Partners, to its Board of Directors. Mary G. Berner, CEO, praised her as a respected venture capital pioneer who will enhance the company’s audio-first strategy. Farrington expressed eagerness to contribute to Cumulus's growth and the expansion of its digital businesses, citing the quality of its media offerings for listeners and advertisers. With extensive experience as a director for various firms and accolades from Forbes, her addition is anticipated to bolster Cumulus's strategic direction.

Cumulus Media announced strong Q2 results with total revenue up 5%, driven by 20% growth in digital revenue, including podcasting up 27%. The net income reached $8.7 million, up 247% from a loss of $5.9 million in Q2 2021. EBITDA increased 23% to $45.5 million, aided by fixed cost reductions. The company reduced net leverage to 3.8x, the lowest in over a decade, while completing a $25 million Dutch tender offer, retiring $50 million in debt. Year-to-date cash from operations totals $30.5 million.

Cumulus Media has announced a groundbreaking study highlighting the effectiveness of broadcast radio advertising for pharmaceutical brands, utilizing data from Swoop and Nielsen. This study indicates that pharmaceutical marketers can now target specific patient audiences through radio, achieving an impressive 83.2% weekly reach among consumers suffering from psoriatic arthritis. Notably, the analysis shows that listeners spend an average of eight hours per week on AM/FM radio, with peak listening hours during weekdays.

Cumulus Media (NASDAQ: CMLS) will host a conference call on August 3, 2022, at 4:30 PM ET to discuss its Q2 2022 operating results. A press release summarizing these results will be released at approximately 4:00 PM ET before the call. Participants can register for the call via a provided link, and it will also be available for live listening on the company's investor relations website. Cumulus Media delivers audio content through 405 radio stations and a network of over 9,500 affiliated stations, providing significant reach and advertising solutions.