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How Cumulus Media (CMLS) makes money
Cumulus Media (CMLS) made $168M of revenue in the second quarter 2026 (Q2 2026), -10% from a year earlier. Total broadcast radio revenue brought in $103M (61%); Digital brought in $38.7M (23%); Other brought in $26.3M (16%).
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total broadcast radio revenue | $103M | 61.3% | +2% | -13% |
| ↳ Spot | $81.4M | 48.5% | +20% | -11% |
| ↳ Network | $21.4M | 12.8% | -35% | -22% |
| Digital | $38.7M | 23.1% | +15% | -0.3% |
| Other | $26.3M | 15.7% | -13% | -8% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $168M | 100.0% |
| Income tax | $881K | 0.5% |
| Operating cash flow | $6.6M | 3.9% |
| Free cash flow | $3.4M | 2.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $168M | -10% |
| Q1 2026 | $164M | -12% |
| Q4 2025 | $188M | -14% |
| Q3 2025 | $180M | -12% |
| Q2 2025 | $186M | -9% |
| Q1 2025 | $187M | -6% |
| Q4 2024 | $219M | -1% |
From Cumulus Media's 10-Q filed Aug 14, 2026 (on EDGAR).
Questions
How does Cumulus Media make money?
Cumulus Media (CMLS) made $168M of revenue in the second quarter 2026 (Q2 2026), -10% from a year earlier. Total broadcast radio revenue brought in $103M (61%); Digital brought in $38.7M (23%); Other brought in $26.3M (16%).
What is Cumulus Media's biggest business?
Total broadcast radio revenue: $103M in the second quarter 2026, 61% of revenue, -13% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.