Radio One ranks #1 among African-American audiences. The largest radio broadcaster serving black listeners, the company owns more than 55 stations in about 15 mostly urban markets. Its radio stations, which mostly operate in market clusters, offer a variety of music formats, as well as news and talk shows. In addition to broadcasting, Radio One has a 80% stake in Reach Media. Radio One operates several websites and the company also owns more than 50% of TV One, a cable television venture with Comcast. Founder and chairperson Catherine Hughes and her son, president and CEO Alfred Liggins, together control more than 90% of the company.
The company has four reportable segments: Radio Broadcasting, Reach Media, Internet, and Cable Television. Radio accounted for about 55% of total revenue in fiscal 2012, while the cable TV segment contributed 30%.
Sales and Marketing
Radio One's advertising and promotional expenses were approximately $13.2 million in fiscal 2012.
The company's revenues increased about 16% in fiscal 2012 compared to 2011. The increase in revenues was attributed to the increase in revenue from the Radio Broadcasting and Cable Television segments. The increase in revenue in the Radio Broadcasting segment was mainly due to increases in advertising sales.
Roughly 41% of the company’s total revenue was generated from local advertising and approximately 34% was generated from national advertising, including network advertising. Revenue from the cable television segment increased 52% attributed to the consolidating the results of TV One.
The company reported a $66.8 million net loss in fiscal 2012 that was attributed to costs associated with acquiring the controlling interest in TV One.
Radio One continues to invest in complementary businesses in the media and entertainment industry, with a focus on businesses that provide entertainment and information content to African-American and urban consumers.