Cumulus Media Reports 11.5% Q3 Revenue Decline with Digital Growth Cushioning Loss

Cumulus Media reported a challenging third quarter in 2025 with total net revenue declining 11.5% to $180.3 million, driven by softness in both broadcast and digital advertising. Despite the overall revenue drop, the company saw a 34% growth in its digital marketing services, which now account for half of its digital revenue, signaling progress in its digital transformation efforts. The company posted a net loss of $20.4 million for the quarter, nearly doubling from the previous year, and adjusted EBITDA fell to $16.7 million, reflecting ongoing pressures on legacy media revenues. CEO Mary Berner highlighted continued market share gains in broadcast spot and digital segments, emphasizing efforts to reduce annualized fixed costs by $7 million and accelerate AI initiatives to enhance efficiency. Cumulus ended the quarter with $90.4 million in cash and total debt of $722.2 million, while also achieving significant cost savings and operational streamlining. Despite short-term headwinds, the company remains focused on optimizing performance and leveraging technology to drive growth.