Welcome to our dedicated page for Cumulus Media news (Ticker: CMLS), a resource for investors and traders seeking the latest updates and insights on Cumulus Media stock.
Cumulus Media Inc. (NASDAQ: CMLS) serves as a cornerstone of the evolving audio media landscape, operating 400+ radio stations while expanding into podcasting and digital solutions. This dedicated news hub provides investors and industry observers with comprehensive updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases alongside curated analysis covering earnings reports, content partnerships, and market positioning within the competitive media sector. The resource consolidates critical updates ranging from Westwood One syndication deals to podcast network expansions, ensuring stakeholders maintain informed perspectives on this audio-first innovator.
Regular updates include coverage of leadership changes, advertising innovations, and responses to industry trends affecting radio broadcasting and digital audio consumption. All content undergoes rigorous verification to ensure accuracy and relevance for financial decision-making.
For consistent access to Cumulus Media's latest developments, bookmark this page or check back regularly for real-time updates impacting one of America's largest radio broadcasters and audio content providers.
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.
Cumulus Media (NASDAQ: CMLS) will hold a conference call on November 3, 2021, at 4:30 PM ET to discuss its Q3 2021 operating results, with a press release to be issued at 4:00 PM ET. Interested participants can register via a provided link, with access details sent post-registration. The call will also be available live on Cumulus Media's investor relations website. The company operates 413 radio stations across 86 markets, delivering diverse programming and advertising services.
Cumulus Media (NASDAQ: CMLS) has announced its participation in the Deutsche Bank 29th Annual Leveraged Finance Conference on October 6, 2021. The company released a new investor presentation, detailing its transition from a radio-focused entity to a multi-dimensional, audio-first media company. Key highlights from the presentation include market recovery, growth in digital business lines, strong free cash flow, and a solid balance sheet. Cumulus is optimistic about delivering additional shareholder value. Access to the investor presentation is available via the company’s website.
Cumulus Media (NASDAQ: CMLS) has appointed Doug Cohn and Bruce Gilbert to newly created senior positions to enhance content development across multiple platforms, including music, entertainment, and sports. Cohn, former Senior Vice President at ViacomCBS, will lead Music & Entertainment, focusing on innovative programming and successful partnerships. Gilbert, who has been with Cumulus for seven years, will oversee Sports, aiming to leverage the company's extensive sports portfolio. These moves, according to EVP Brian Philips, are expected to drive creativity and growth in Cumulus's content offerings.
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