Urban One Sees Radio Stabilizing As Political Boosts Outlook.

Urban One said they’re starting to see signs of stabilization in the radio advertising business after a difficult first half of 2026, with improving local advertising trends and a surge in political spending expected to strengthen results during the remainder of the year.

The comments came as the Silver Spring, MD-based broadcaster reported second-quarter revenue of $85.8 million, down 6.4% from a year ago, while adjusted EBITDA fell 16% to $11.7 million. The company lowered its full-year adjusted EBITDA outlook to the mid-$50 million range from its previous forecast of about $60 million, citing continued softness across several advertising categories.

Despite the weaker financial results, President and CEO Alfred C. Liggins III struck a cautiously optimistic tone about the company’s core radio operations during the earnings call, saying the advertising environment has improved from earlier in the year.

“We’re still in a challenging marketplace, but it is better than where we were in the first quarter,” Liggins told analysts. He said local radio advertising continues to outperform national business and noted that political advertising is expected to become a meaningful contributor during the second half of the year.

Radio has been under pressure as national advertisers remain cautious amid economic uncertainty. Urban One, whose radio portfolio targets Black audiences in major U.S. markets, has been particularly affected by weakness in national spot advertising while local business has remained comparatively resilient.

During the call, Liggins said the company continues to see healthier demand from local advertisers in many of its largest markets, including Washington, Atlanta, Dallas, Houston and Indianapolis, while national advertising remains uneven.

“The local business is holding up much better than national,” he said during a question-and-answer session with analysts, adding that the company expects political advertising to offset some of the industry’s broader weakness over the balance of the year.

Executives also highlighted Urban One’s continued efforts to strengthen its balance sheet through debt reduction. The company has been repurchasing debt at significant discounts, reducing future interest expense while preserving liquidity.

Liggins said those efforts will remain a priority even as Urban One continues integrating its recently announced acquisition of Dallas radio stations KKDA and KRNB and the sale of KZMJ, transactions that are expected to improve the profitability of the radio division once completed.

Management acknowledged that national advertising demand has yet to fully recover but expressed confidence that political campaigns will provide a meaningful lift as the election season accelerates.

Liggins said the company expects radio stations in several battleground markets to benefit from increased political spending, adding that bookings continue to build heading into the fall campaign season. Beyond politics, executives said they’re encouraged by improving conversations with local advertisers and believe the worst of the advertising slowdown may have passed.

While the revised outlook reflects continued caution, management repeatedly emphasized that radio trends have become more stable than they were earlier this year and that political advertising should provide an important catalyst during the second half, giving the company confidence that results will improve as the election cycle reaches its peak.