Core Viewpoint - Cumulus Media Inc. will host a conference call on August 2, 2024, to discuss its second quarter 2024 operating results, with a press release summarizing these results to be issued beforehand [1]. Group 1: Conference Call Details - The conference call is scheduled for August 2, 2024, at 8:30 AM ET [1]. - A press release summarizing the operating results will be issued at approximately 8:00 AM ET on the same day [1]. - Domestic callers can join the call by dialing 833-470-1428, while international callers should dial 404-975-4839, with a participant access code of 044716 [3]. Group 2: Company Overview - Cumulus Media is an audio-first media company that delivers premium content to over a quarter billion people monthly [5]. - The company operates 401 owned-and-operated radio stations across 85 markets and provides nationally-syndicated programming through Westwood One, the largest audio network in America [5]. - Cumulus Media also offers a growing network of original podcasts and provides advertisers with local and national advertising performance guarantees [5].

NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- Cumulus Media's (NASDAQ: CMLS) Westwood One announced that a new podcast, Bongino Report Early Edition with EvitaSM, dropped its inaugural episode today on the Cumulus Podcast Network. In this first podcast extension under the Bongino umbrella, Gen Z journalist and culture analyst Evita Duffy-Alfonso joins the Bongino Report with a daily show covering all the top stories. Bongino Report Early Edition with EvitaSM drops each weekday on most major podcast platforms ...

NEW YORK, July 14, 2024 (GLOBE NEWSWIRE) -- WHAT: Dan Bongino, host of The Dan Bongino Show, will be at the Republican National Convention streaming live special coverage in addition to his regularly scheduled syndicated radio show on Westwood One and his daily podcast. Rich Valdés, host of Rich Valdés America at Night on Westwood One, will be covering the Republican National Convention and providing interviews with key party members. Westwood One offers 24-hour news/talk syndicated radio programming Monday ...

NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) proudly announced today that legendary talk radio host Mark Levin has extended his contract to host both his syndicated radio program, "The Mark Levin Show," on Westwood One and his podcast, Mark Levin Audio Rewind, on the Cumulus Podcast Network for multiple years. Levin will also develop and host an all-new show for the network, his first ever original content podcast series. The daily companion podcast, Mark Levin Audio Rewind, drop ...

ATLANTA, June 12, 2024 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ: CMLS) today announced the appointment of Kriston Aitken to Chief Human Resources Officer, effective July 1, 2024. Reporting to Mary G. Berner, President and CEO, Aitken will be responsible for Human Resources strategy and operations, talent management, compensation and benefits, and supporting the advancement of the company culture. She succeeds Todd McCarty, who will be retiring after nearly nine years with the company. Berner added, "I want ...

Aitken joined Cumulus Media in 2016 and has held the position of Senior Vice President of Human Resources for the past two years. With a career spanning nearly two decades, Aitken has a wealth of experience in leading HR teams. Before Cumulus, Aitken held several HR roles across various properties of Starwood Hotels and Resorts. Mary G. Berner said, "For the past nearly eight years, Kriston has been a stand-out HR executive, and I'm delighted that she is fully ready and able to step into this important role ...

Washington, D.C., May 15, 2024 (GLOBE NEWSWIRE) -- The Washington Spirit and ESPN 630, DC's premier live and local sports radio station, will team up to broadcast 13 regular season matches in the Spirit's first-ever radio partnership, the club announced today. The partnership will begin on Saturday, May 18 when the Washington Spirit faces Angel City FC and will extend throughout the 2024 season. Match audiocasts will stream live directly to WashingtonSpirit.com, as well as the ESPN 630 app and website. "The ...

NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ:CMLS) today announced The Candy Valentino Show has joined the Cumulus Podcast Network. Entrepreneur and bestselling author Candy Valentino talks with some of the world's most successful minds, including Tony Robbins, Daymond John, Ed Mylett, and Heidi Zak, while offering valuable insights drawn directly from her 26 years of expertise launching and selling her own businesses. She discusses wealth habits, business models, profit plans, real esta ...

ATLANTA, May 08, 2024 (GLOBE NEWSWIRE) -- Cumulus Media (NASDAQ:CMLS) today announced Mike Eaby's promotion to Vice President/Executive Producer of Westwood One Sports. In his new role, Eaby will manage and oversee all Westwood One Sports multi-platform content and live event production. Eaby will assume his new responsibilities on May 15, reporting to Bruce Gilbert, Senior Vice President, Sports Content & Audience for Cumulus Media and Westwood One. He succeeds Howard Deneroff, who departs his position aft ...

Financial Data and Key Metrics Changes - Total company revenue in Q1 was $200 million, down 2.7% year-over-year, but represented an improvement compared to 2023's performance [40][32] - EBITDA for the quarter was $8.4 million, with digital revenue increasing 7% year-over-year [11][32] - Fixed costs were reduced by approximately $4 million year-over-year, contributing to improved operating leverage [20][17] Business Line Data and Key Metrics Changes - Digital marketing services (DMS) revenue grew 25% in the quarter, significantly contributing to overall revenue growth [19][33] - Podcasting and streaming revenues increased by low single digits year-over-year, with podcasting showing sequential improvement [13][19] - National spot and network revenue were down mid-single digits, but showed improvement from previous quarters [14][40] Market Data and Key Metrics Changes - Consumer packaged goods, insurance, and pharmaceuticals were the top-performing national advertising categories, while mortgage, home improvement, and banking were the weakest [19][36] - Political revenue for the quarter was $2.2 million, down 55% from 2020, reflecting less competitive presidential primaries [16][41] Company Strategy and Development Direction - The company has refinanced its capital structure, extending maturities to 2029 and reducing debt by approximately $33 million, which provides additional runway for strategic initiatives [9][31] - Focus on accelerating digital growth through investments in digital marketing services and reducing fixed costs to enhance operating leverage [10][18] - The company aims to build long-term shareholder value through disciplined expense reductions and continued deleveraging [18][57] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising environment remains uncertain, with national advertisers expressing a desire to increase spending but facing macroeconomic challenges [15][57] - The company is optimistic about the recovery in local broadcast radio, expecting a more gradual rebound compared to national revenue [37][38] - Current pacing for Q2 is down low single digits, reflecting ongoing challenges in the advertising market [57][38] Other Important Information - The company has increased its ABL facility availability by 25%, enhancing liquidity [21][31] - Management emphasized the importance of technology implementations and process improvements to drive efficiency [27][60] Q&A Session Summary Question: Can you provide insights on the fixed cost reductions? - Management indicated that fixed cost reductions were achieved through renegotiating contracts and improving production efficiency, with ongoing opportunities for further reductions [46][60] Question: How is the digital marketing services growth being driven? - The growth in DMS is attributed to a combination of winning clients from other providers and attracting new clients, with a focus on offering comprehensive digital marketing solutions [62][62] Question: What are the trends in podcasting and local advertising? - Podcasting has seen improvements in ad trends, with a notable increase in charting shows, while local advertising is gradually gaining traction [63][50]