Cumulus Media Stock Price, News & Analysis

Cumulus Media (NASDAQ: CMLS) announced that WNBM-FM will transition to WFAS-FM, TALK FM 103.9, starting January 3, 2022. This change will create the only all-talk FM station in the New York metropolitan area. Programming will be provided by Westwood One, featuring prominent shows like The Dan Bongino Show and The Ben Shapiro Show. The station's signal will extend into key areas of New York City and beyond, enhancing reach to listeners and offering new advertising opportunities in the largest DMA in the U.S.

Cumulus Media’s Westwood One will provide exclusive audio coverage of the Army-Navy football game on December 11, hosted live from MetLife Stadium starting at 2 p.m. ET. This event marks the 122nd meeting of this storied rivalry, featuring commentators John Sadak, Ross Tucker, and sideline reporter Tina Cervasio. Coverage will be available on various platforms, including WestwoodOneSports.com, TuneIn, and SiriusXM. Cumulus Media engages a vast audience through over 412 radio stations and a diverse media portfolio.

Cumulus Media (NASDAQ: CMLS), in collaboration with Signal Hill Insights, released the Podcast Download – Fall 2021 Report, analyzing podcast audience and advertising trends. The report reveals that Spotify has become the leading platform for podcast listening in the U.S., holding a 24% share. Key trends include a rise in female podcast listeners (60% of newcomers), and the fact that 45% of brands are now advertising in podcasts. Furthermore, two-fifths of podcast listeners are cord cutters, relying on ad-free streaming services, highlighting a significant advertising opportunity.

Cumulus Media (NASDAQ: CMLS) has announced participation in two upcoming investor conferences. The 5th Annual Virtual Wells Fargo TMT Summit will feature a fireside chat on December 1, 2021, at 10:40 AM ET. Additionally, the Bank of America Securities 2021 Leveraged Finance Conference is scheduled for December 2, 2021, at 7:30 AM ET, with a group presentation available via live stream and on-demand access within 24 hours. Management will also conduct one-on-one meetings with investors during both events.

Cumulus Media (NASDAQ: CMLS) recently released an analysis from Westwood One’s Audio Active Group, demonstrating the effectiveness of AM/FM radio for political advertising, particularly among voters who are light TV viewers. The study reveals that AM/FM radio reaches 82% of registered light TV viewers and can significantly enhance voter reach by 15% when integrated into media plans. With a 74% share of ad-supported audio, Cumulus Media highlights AM/FM radio's competitive advantage due to lower political ad clutter compared to television, making it a strategic tool for upcoming elections.

Cumulus Media (NASDAQ: CMLS) announced that its Dallas station, KTCK-AM/Sportsradio 96.7 and 1310 The Ticket, won two prestigious awards at the 2021 NAB Marconi Radio Awards. The station was named Sports Station of the Year, and the top-rated morning show hosts, George Dunham, Craig Miller, and Gordon Keith, received the Major Market Personality of the Year award. With over 27 years of experience, The Musers have been a top-rated show in the Dallas-Fort Worth area since 1995, further establishing Cumulus Media's strong presence in audio entertainment.

Cumulus Media (NASDAQ: CMLS) reported impressive third-quarter results for 2021, showing a 21% increase in total revenue year-over-year and a 67% rise in digital revenue. The company highlighted its successful transition from traditional radio to a multi-dimensional audio-first media business. Key financial metrics include a $13 million cash generation from operations, $34 million from a Nashville land sale, and total cash of $153 million. Cumulus anticipates a strong 2022 with EBITDA guidance of $175 - $200 million and expects to achieve over $70 million in permanent fixed cost reductions compared to 2019.

Cumulus Media (CMLS) has partnered with FreeWheel and Triton Digital to integrate its podcast inventory into Strata's media buying platform. This collaboration enables over 1,100 agencies to automate the podcast buying process with validated metrics, marking a significant innovation in the podcast advertising sector. Starting Q4 2021, Strata users will access Cumulus Podcast Network’s curated podcast lineups, backed by reliable data on downloads measured by Triton. This is a pivotal step as podcasting rapidly grows in the U.S., with about 80 million weekly listeners.