---
title: "Cumulus Media 10-K: Revenue $741.7M, Net Loss $200.7M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282341704.md"
description: "Cumulus Media reported fiscal 2025 net revenue of $741.7 million, down 10.3% from 2024, with a net loss of $200.7 million, an improvement of 29.1%. Adjusted EBITDA decreased to $52.0 million, reflecting lower revenue and digital performance. The company continued operations during Chapter 11, achieving an operating loss of $(138.1) million, improved by lower impairments and content costs. Key highlights include a decline in spot and network advertising, while digital marketing services grew. Cumulus operates 393 radio stations and the Westwood One national network, reaching approximately 250 million listeners monthly."
datetime: "2026-04-10T12:05:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282341704.md)
  - [en](https://longbridge.com/en/news/282341704.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282341704.md)
---

# Cumulus Media 10-K: Revenue $741.7M, Net Loss $200.7M

Cumulus Media reported fiscal 2025 net revenue of $741.7 million and a net loss of $200.7 million, reflecting declines in spot and network advertising and lower podcast political spend. Adjusted EBITDA was $52.0 million, down from the prior year, while operating loss improved to $(138.1) million driven by lower impairments and content costs. The company continued operations during Chapter 11 proceedings and recorded an income tax benefit of $1.8 million.

**Financial Highlights**

-   **Net revenue:** $741.7 million, decreased $85.4 million (−10.3%) versus 2024, primarily from lower spot and network revenue.
-   **Operating loss:** $(138.1) million, improved $101.5 million (42.4%) versus 2024 due to lower impairments and content costs.
-   **Net loss:** $(200.7) million, improved $82.6 million (29.1%) versus 2024; income tax benefit of $1.8 million recorded.
-   **Adjusted EBITDA:** $52.0 million, decreased $30.7 million (−37.1%) versus 2024, reflecting lower revenue and declines in digital/podcast performance.
-   **Gross profit (reported context):** $470.4 million (implied in filing from net revenue less content costs of $271.3 million), noting content cost reductions of $52.9 million.

**Business Highlights**

-   **Revenue trend:** Decline of approximately 10.3% year-over-year driven by reduced spot and network advertising and diminished political advertising in podcasts.
-   **Channel mix shifts:** Digital revenue declined modestly—podcasting was a pressured area—while digital marketing services showed growth and trade/barter activity increased.
-   **Audience and assets:** Operates 393 owned radio stations, the Westwood One national network, and the Cumulus Podcast Network with reach cited at roughly 250 million monthly listeners.
-   **Operational resilience during Chapter 11:** Continued ordinary-course operations, obtained cash-collateral protections and court approval to reject uneconomic leases to reduce ongoing costs.
-   **Cost and programming initiatives:** Reduced content costs and SG&A through renegotiated rights agreements, personnel and incentive reductions, and a smaller real estate footprint.

Original SEC Filing: CUMULUS MEDIA INC \[ CMLSQ \] - 10-K - Apr. 10, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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