CUMULUS MEDIA

What CUMULUS MEDIA does

Cumulus Media is an audio-first media company headquartered in Atlanta, Georgia, that operates a three-tier audio platform consisting of (1) 393 owned-and-operated radio stations across 84 U.S. markets delivering local programming, (2) Westwood One, a national audio network distributing syndicated content from sports and news brands (NFL, NCAA, Masters, US Soccer, AP News, Academy of Country Music Awards) across more than 7,800 affiliated stations, and (3) the Cumulus Podcast Network, an in-house platform for original on-demand podcasts. The company is publicly traded on NASDAQ (ticker: CMLS, SEC CIK 0001058623), was founded in 1997, and employs approximately 3,663 people.

The underlying technology stack is audio broadcasting and digital media distribution spanning broadcast radio, digital, mobile, social, and voice-activated platforms, with content delivered to a stated monthly audience of approximately 250 million people. Cumulus operates two core wholly-owned subsidiaries (Westwood One and the Cumulus Podcast Network) and maintains exclusive content licensing relationships with multiple high-profile sports and entertainment brands.

Cumulus generates revenue by selling advertising across four productized solutions: Local Solutions (hyper-local station inventory), Network Solutions (national reach via Westwood One affiliates), Digital Solutions (mobile, social, voice-activated, and integrated digital marketing services), and Podcast Solutions (Cumulus Podcast Network inventory), supplemented by Research & Insights services and live event experiences. Go-to-market is sales-led, targeting both local and national advertisers through agency and direct relationships, with quote-based pricing that varies by market, station, audience reach, and campaign scope. Customer segmentation is horizontal, addressing advertiser pain points around cross-platform audio reach and integrated campaign execution.

Name

CUMULUS MEDIA

Legal name

Cumulus Media

Website

https://cumulus.com

Company type

Public

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cumulus Media is an audio-first media company operating 393 owned radio stations across 84 U.S. markets, the Westwood One national network spanning 7,800+ affiliated stations, and the Cumulus Podcast Network. It sells broadcast, digital, podcast, and live-event advertising to local and national advertisers.

Ownership category

akta.pro rank

Product category

Radio Broadcasting and Audio Media

NAICS

Radio and Television Broadcasting Stations (5161), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210)

SIC

Radio Broadcasting Stations (4832)

akta.pro primary industry

Talk/News/Sports Radio Networks & Syndication (MPAIAEAG)

akta.pro secondary industries

Radio Content Production & Studios (On-air Production, Imaging, Jingles) (MPAIAEAL), Non-Interactive Digital Radio (Lean-Back Streaming) (MPAIACAB), Internet Radio & Streaming Broadcast Stations (Simulcast/Online-only) (MPAIAEAE)

Keywords

• Radio broadcasting
• Audio advertising
• Podcast network
• Broadcast media
• National audio network

Headquarters

HQ city

Not specified

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Broadcast Advertising: Revenue generated from advertisers purchasing airtime on Cumulus Media's 393 owned-and-operated radio stations across 84 markets, as well as across the Westwood One national network spanning more than 7,800 affiliated stations.
2. Digital Advertising: Revenue from digital advertising offerings including on-demand, mobile, social, and voice-activated platform placements, as well as integrated digital marketing services.
3. Podcast Advertising: Revenue from the Cumulus Podcast Network, an established platform for original podcasts featuring smart, entertaining, and thought-provoking content.
4. Live Event Experiences: Revenue generated from live event experiences offered as part of advertiser solutions.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Cumulus Media is an audio-first media company that monetizes audiences through advertising across its owned-and-operated radio stations, the Westwood One national audio network, the Cumulus Podcast Network, and digital and live event channels. It sells local, network, digital, podcast, and research-backed advertising solutions to brands seeking reach across broadcast and on-demand audio.

Product overview

Cumulus Media is an audio-first media company operating as a platform-plus-network architecture. The core offering consists of three main products: (1) Cumulus Radio Stations — 393 owned-and-operated stations across 84 markets delivering local programming; (2) Westwood One — a national audio network reaching over 7,800 affiliated stations with syndicated content from major brands including NFL, NCAA, and AP News; and (3) Cumulus Podcast Network — an established podcast platform for original programming. These audio content platforms are supported by a suite of advertising solutions including Local Solutions, Network Solutions, Digital Solutions, Podcast Solutions, and Research & Insights, which enable advertisers to reach audiences through broadcast, on-demand digital, mobile, social, and voice-activated platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Westwood One: Leading national audio network delivering syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, NCAA, Masters, US Soccer, AP News, and Academy of Country Music Awards across more than 7,800 affiliated stations.
• Cumulus Podcast Network

Products and services

• Cumulus Radio Stations 393 owned-and-operated radio stations across 84 U.S. markets delivering high-quality local programming to listeners.
• Westwood One National audio network distributing nationally-syndicated sports, news, talk, and entertainment programming from brands including NFL, NCAA, Masters, US Soccer, AP News, and Academy of Country Music Awards across more than 7,800 affiliated stations.
• Cumulus Podcast Network Established platform for original podcasts that are smart, entertaining, and thought-provoking, delivering on-demand audio content to listeners.
• Local Advertising Solutions Personalized local advertising solutions connecting advertisers with local audiences through Cumulus Media's owned broadcast stations and digital platforms.
• Network Advertising Solutions National advertising solutions providing advertisers with broad reach across the Westwood One network's affiliated stations and syndicated programming.
• Digital Advertising Solutions Digital marketing services including advertising placements on on-demand, mobile, social, and voice-activated platforms with integrated digital marketing capabilities.
• Podcast Advertising Solutions Advertising solutions specifically designed for podcast content, leveraging the Cumulus Podcast Network's original programming inventory.
• Research & Insights Industry-leading research and insights services helping advertisers understand audience behavior and optimize campaign effectiveness.

Quantifiable outcome

• Reaches a quarter billion people every month
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core.

• NFLcoreStrategic or Co-development PartnerCumulus Media delivers nationally-syndicated NFL programming and content through Westwood One, the company's national audio network, reaching audiences across more than 7,800 affiliated stations.
• NCAAcoreStrategic or Co-development PartnerCumulus Media provides nationally-syndicated NCAA sports programming and entertainment content through Westwood One's national audio network.
• Masters TournamentcoreStrategic or Co-development PartnerCumulus Media distributes Masters Tournament coverage nationally through its Westwood One network, bringing golf content to audiences across affiliated stations.
• US SoccercoreStrategic or Co-development PartnerCumulus Media delivers nationally-syndicated US Soccer programming and entertainment content through Westwood One's national audio network.
• AP NewscoreStrategic or Co-development PartnerCumulus Media distributes AP News content nationally through Westwood One, providing news programming to affiliated stations across the network.
• Academy of Country Music AwardscoreStrategic or Co-development PartnerCumulus Media provides nationally-syndicated coverage of the Academy of Country Music Awards through Westwood One's national audio network.
• Westwood OnecoreChannel Partner/ Reseller/ DistributorWestwood One is Cumulus Media's national audio network, distributing syndicated sports, news, talk, and entertainment programming from iconic brands (NFL, NCAA, Masters, US Soccer, AP News, Academy of Country Music Awards) across more than 7,800 affiliated stations nationwide.
• Cumulus Podcast NetworkcoreChannel Partner/ Reseller/ DistributorThe Cumulus Podcast Network is an established and influential platform for original podcasts that are smart, entertaining, and thought-provoking. It operates as Cumulus Media's platform for on-demand audio content distribution and podcast advertising.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Audacy: Major U.S. radio operator (formerly Entercom/CBS Radio) with owned-and-operated stations, sports and news content, and a growing podcast platform; competes head-to-head with Cumulus for local and national ad dollars.
• Beasley Broadcast Group: U.S. radio broadcasting company with owned stations and digital/audio assets; competes with Cumulus for local ad budgets in overlapping markets.
• iHeartMedia: Largest U.S. radio broadcaster with a national footprint of owned stations plus iHeartRadio digital streaming and podcast network; directly comparable to Cumulus across broadcast, digital, and podcast advertising.
• Townsquare Media: Mid-sized U.S. radio broadcasting group operating stations in mid-sized markets plus digital and live event businesses; comparable as a smaller-scale analog of Cumulus's local-broadcast-plus-digital model.
• Emmis Communications: U.S. radio broadcaster with owned stations and digital media assets; comparable to Cumulus in market structure, though smaller in scale.
• Salem Communications: U.S. radio broadcaster focused on talk, news, and Christian/sports formats; comparable to Cumulus in radio operations with overlapping advertiser categories.

Regional players

• Bonneville International: Privately held U.S. radio group with strong local-market presence and content focus; competes with Cumulus in specific Western U.S. markets and formats.

Broad incumbents

• Sirius XM Holdings: Satellite and streaming audio subscription service with major sports (NFL, NBA, MLB) and talk content; competes with Westwood One for sports audio rights and advertiser attention across U.S. audio.

Others

• Entercom Communications (pre-Audacy): Historical reference peer (now rebranded as Audacy); illustrative of how radio consolidation has shaped Cumulus's competitive set across broadcast and digital audio.

Emerging players

• Spotify: Global digital audio streaming and podcast platform rapidly scaling its U.S. ad business; an emerging competitor to Cumulus's podcast and digital audio advertising streams.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cumulus-media

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CUMULUS MEDIA