Financial Data and Key Metrics Changes - Net revenue decreased by 3.6% to approximately $94.9 million for Q1 2020 [21] - Consolidated adjusted EBITDA increased by 16.4% year-over-year to $32.3 million [30] - Net loss was approximately $23.2 million or $0.51 per share, compared to a net loss of approximately $3.1 million or $0.07 per share for Q1 2019 [33] Business Line Data and Key Metrics Changes - Radio segment net revenue decreased by 5% in Q1 2020, with national advertising sales up by 1.9% and local ad sales down by 5.7% [21] - Reach Media's net revenue decreased by 4.1%, but adjusted EBITDA increased by approximately $226,000 year-over-year [22] - Digital segment net revenues decreased by 15.4%, with adjusted EBITDA down by approximately $909,000 due to the absence of major events [22] - Cable television segment revenue was approximately $47.5 million, a decrease of 0.7%, with advertising revenue down by 4.2% [23] Market Data and Key Metrics Changes - Cable subscribers decreased to 51.8 million from 52.2 million at the end of Q4 2019 [24] - The company recorded a 17.2% decrease in income from the MGM National Harbor property due to casino closures [24] Company Strategy and Development Direction - The company aims to continue de-levering and paying down debt, with a focus on maintaining liquidity and cost control [9][14] - Management is exploring opportunities for synergies and potential consolidations in the industry, particularly in radio [15][18] - There is an expectation of increased radio consolidation due to higher leverage in the industry post-COVID [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery but acknowledged uncertainty regarding the pace of recovery [11][14] - The company has taken measures to ensure compliance with debt covenants and maintain liquidity during the pandemic [8][36] - Management is prepared for potential future challenges, including a possible resurgence of COVID-19 [77][78] Other Important Information - Operating expenses decreased by 12.4% to approximately $65.6 million in Q1 2020 [25] - The company executed a stock-based tax repurchase of approximately $1 million [34] - The company recorded a non-cash impairment charge of approximately $47.7 million for broadcast licenses due to changing market assumptions [32] Q&A Session Summary Question: Concerns about capital structure and refinancing - Management is considering refinancing options and believes the revolver will not be an issue to renew, but the seven and 38 notes due in 2022 may pose challenges [42][44] Question: Cable TV contracted affiliate rates - Contracted affiliate rates are expected to increase annually at a mid-single-digit growth rate [52] Question: Internal risk assessments regarding COVID-19 - The company does not have significant coverage under business interruption policies for the pandemic and is operating under the assumption that it won't be covered [72][75] Question: Political advertising revenue expectations - Management is optimistic about capturing political advertising dollars, despite changes in the political landscape [88][90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from to Commission File No. 0-25969 URBAN ONE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incor ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 Commission File No. 0-25969 URBAN ONE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address of principal execu ...

Urban One, Inc. (NASDAQ:UONE) Q2 2019 Earnings Conference Call August 1, 2019 10:00 AM ET Company Participants Alfred C. Liggins – Chief Executive Officer Peter D. Thompson – Chief Financial Officer Conference Call Participants Aaron Watts – Deutsche Bank Michael Kupinski – NOBLE Capital Markets Operator Welcome to the Urban One’s 2019 Second Quarter Earnings Call. I’ve been asked to begin this call with the following Safe Harbor statement. During this conference call, Urban One will be sharing with you ce ...

(Exact name of registrant as specified in its charter) SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 Commission File No. 0-25969 URBAN ONE, INC. (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address of principal executive ...

Financial Performance - Net revenue for the three months ended March 31, 2019, was $98,449,000, a decrease of 1.2% from $99,621,000 in 2018[178] - Broadcast and digital operating income increased to $34,491,000, up 6.1% from $32,497,000 in the same period last year[178] - Broadcast and digital operating income margin improved to 35.0%, compared to 32.6% in 2018[178] - Radio advertising revenue decreased by 4.9% to $42,439,000 from $44,622,000 in 2018[168] - Digital advertising revenue fell by 8.7% to $7,437,000, down from $8,146,000 in the previous year[168] - Cable television advertising revenue increased by 6.6% to $20,193,000, compared to $18,936,000 in 2018[168] - Consolidated net loss attributable to common stockholders improved to $(6,663,000) from $(22,555,000) in the prior year[178] - Adjusted EBITDA for the three months ended March 31, 2019, was $29,037,000, compared to $28,489,000 in 2018[178] - Revenue from the radio broadcasting segment decreased by 7.0% compared to the same period in 2018, while the cable television segment saw an increase to approximately $47.8 million from $46.2 million[181] - Total operating expenses decreased by 10.8% to $82.3 million for the three months ended March 31, 2019, compared to $92.3 million in the same period in 2018[180] - Operating income increased significantly by 120.3% to $16.1 million for the three months ended March 31, 2019, compared to $7.3 million in the same period in 2018[180] - Consolidated net loss decreased to $6.5 million for the three months ended March 31, 2019, compared to a net loss of $22.5 million in the same period in 2018, representing a 71.0% improvement[180] Cash Flow and Debt - Net cash flows provided by operating activities were approximately $16.3 million for the three months ended March 31, 2019, down from $22.0 million in the same period of 2018[202] - Net cash flows used in financing activities were approximately $25.0 million for the three months ended March 31, 2019, compared to $14.8 million for the same period in 2018[204] - The company repaid approximately $25.3 million in outstanding debt during the three months ended March 31, 2019[204] - The company has senior bank debt of $350.0 million maturing on April 18, 2023, and approximately $350.0 million outstanding in its 2022 Notes[223] - The company has a new $192.0 million unsecured credit facility and a $50.0 million loan secured by its interest in the MGM National Harbor Casino[223] Assets and Liabilities - As of March 31, 2019, the company had approximately $600.1 million in broadcast licenses and $245.6 million in goodwill, totaling $845.7 million, which represented approximately 66.5% of total assets[207] - The company recorded an increase in right of use (ROU) assets of approximately $49.8 million and an increase in lease liabilities of approximately $54.1 million upon the adoption of ASC 842[220] - Scheduled contractual obligations total $1,426.431 million as of March 31, 2019, with significant payments due in 2023 amounting to $621.073 million[230] - Approximately $122.5 million of other operating contracts and agreements has not been recorded on the balance sheet as of March 31, 2019[231] - The company has letters of credit totaling $788,000 under a reimbursement and security agreement for certain operating leases and insurance policies[233] Operational Highlights - The percentage of core radio business generated from local advertising increased to 62.7% from 61.4% in 2018[167] - The cable television segment accounted for 48.6% of consolidated net revenue, up from 46.4% in the previous year[166] - The company experienced net revenue declines in several markets, including Baltimore, Charlotte, and Detroit, while Atlanta and Washington DC markets showed growth[181] - The company generated approximately $1.4 million of broadcast and digital operating income from Reach Media during the three months ended March 31, 2019, compared to $794,000 in the same period of 2018[194] - The digital segment generated a broadcast and digital operating loss of $91,000 for the three months ended March 31, 2019, an improvement from a loss of approximately $2.2 million in the same period of 2018[194] Tax and Legal Matters - Provision for income taxes decreased significantly by 82.5% to approximately $2.2 million for the three months ended March 31, 2019, compared to $12.8 million in the same period in 2018[192] - The company achieved three years of cumulative pre-tax income as of March 31, 2019, which positively impacted the realizability of deferred tax assets[215] - The company has been named as a defendant in several legal actions, but management believes the outcomes will not materially affect financial position[232] Market and Risk Factors - Interest expense increased by 14.9% to approximately $22.2 million for the three months ended March 31, 2019, compared to $19.3 million in the same period in 2018[189] - Stock-based compensation decreased by 62.9% to $511,000 for the three months ended March 31, 2019, compared to $1.4 million in the same period in 2018[186] - Noncontrolling interests in income of subsidiaries increased by 278.8% to $125,000 for the three months ended March 31, 2019, compared to $33,000 in the same period in 2018[193] - Market risk exposure has not changed materially since December 31, 2018, as detailed in the Annual Report[234] - The company is in negotiations with BMI for a new royalty agreement, with potential adverse effects on costs if an agreement is not reached[225] - The company has non-cancelable operating leases expiring over the next 12 years, impacting future cash flows[226] - The company has various operating contracts and agreements, including employment and talent contracts, expiring over the next seven years[227]

OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Addres ...