Cumulus Media Inc (NAS:CMLS)
$ 0.20 +0.0022 (+1.08%) Market Cap: 3.53 Mil Enterprise Value: 734.40 Mil PE Ratio: 0 PB Ratio: 0.50 GF Score: 52/100
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Q4 2024 Cumulus Media Inc Earnings Call Transcript

Feb 27, 2025 / 01:30 PM GMT
Release Date Price: $0.9 (-0.33%)

Key Points

Positve
  • Cumulus Media Inc (CMLS) outperformed its peers on key metrics such as cost takeouts, IEDA margin recovery, free cash flow conversion, net leverage, and liquidity through the end of 2023.
  • The digital marketing services business saw a revenue increase of 27% year over year, becoming the largest digital business segment in 2024.
  • Cumulus Media Inc (CMLS) achieved all-time highs in several key performance indicators for its digital marketing services, including customer count up 18% and average digital order size per customer up 11%.
  • The company successfully extended its debt maturities to 2029, providing additional financial flexibility and optionality.
  • Cumulus Media Inc (CMLS) maintained its liquidity position at year-end versus the prior quarter, benefiting from cash generated from operations.
Negative
  • Cumulus Media Inc (CMLS) faced significant challenges due to accelerated national headwinds and an industry-wide slowdown in local broadcast advertising.
  • Podcast revenue was down slightly in 2024 due to Daily Wire's decision to take its ad sales function in-house, resulting in a $15 million negative revenue comp for the full year.
  • The streaming business was down 4% during the year, impacted by the expiration of a fixed rate sales contract.
  • Broadcast demand weakness continued, reflecting ongoing concerns about inflation, higher interest rates, and deteriorating consumer sentiment.
  • The company anticipates additional headwinds in 2025 due to the loss of Dan Bongino's radio show and podcast, comparable to the loss of the Daily Wire comp.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CMLS.OQ - Cumulus Media Inc
Q4 2024 Cumulus Media Inc Earnings Call
Feb 27, 2025 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the Cumulus Media quarterly earnings conference call. I will now turn it over to Colin Jones, executive Vice President of strategy and Development and President of Westwood One. Sir, you may proceed.

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Unidentified_2 [2]
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Thank you, operator. Welcome everyone to our 4th quarter and full year 2024 earnings conference call. I'm joined today by our President and CEO Mary Berner and our CFO Frank Lopez Balbella. Before we start, please note that certain statements in today's press release and discussed on this call may constitute forward-looking
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