We’ve heard this song before. Now, it’s being told by Alfred Liggins III, President/CEO of Urban One, the media company superserving African American consumers.
“We got off to a great start to the year,” he said in prepared comments that accompanied Urban One’s Q1 2020 results. “Then the impact of COVID-19 hit our radio markets.”
While the novel coronavirus slammed the company’s radio properties, Urban One’s digital segment and its TV One MVPD-distributed cable channel “are not as impacted to the same extent as radio.”
Nevertheless, the carnage of COVID-19 on Urban One’s quarterly financial statement is as plain as day.