Cumulus Media Inc. (CMLS) Revenue History
Annual and quarterly revenue from 1998 to present
CMLS Revenue Over Time (1998–2024)
CMLS Revenue Growth History
14 of 26 years with positive growth- FY1998 revenue growth
- N/A
- FY1999 revenue growth
- +82.2%
- FY2000 revenue growth
- +25.5%
- FY2001 revenue growth
- -10.9%
- FY2002 revenue growth
- +25.5%
- FY2003 revenue growth
- +11.6%
- FY2004 revenue growth
- +13.5%
- FY2005 revenue growth
- +2.4%
- FY2006 revenue growth
- +2.0%
- FY2007 revenue growth
- -1.8%
- FY2008 revenue growth
- -5.1%
- FY2009 revenue growth
- -17.8%
- FY2010 revenue growth
- +2.8%
- FY2011 revenue growth
- +108.7%
- FY2012 revenue growth
- +95.9%
- FY2013 revenue growth
- -4.7%
- FY2014 revenue growth
- +23.1%
- FY2015 revenue growth
- -7.5%
- FY2016 revenue growth
- -2.3%
- FY2017 revenue growth
- -0.5%
- FY2018 revenue growth
- +0.4%
- FY2019 revenue growth
- -2.4%
- FY2020 revenue growth
- -26.7%
- FY2021 revenue growth
- +12.3%
- FY2022 revenue growth
- +4.0%
- FY2023 revenue growth
- -11.4%
- FY2024 revenue growth
- -2.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2025 | $180.3M | -11.5% |
| Q2 2025 | $186.0M | -9.2% |
| Q1 2025 | $187.3M | -6.4% |
| Q4 2024 | $218.6M | -1.2% |
| Q3 2024 | $203.6M | -1.8% |
| Q2 2024 | $204.8M | -2.5% |
| Q1 2024 | $200.1M | -2.7% |
| Q4 2023 | $221.3M | -11.9% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2024)
CMLS's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
CMLS Revenue Analysis (1998–2024)
Current Revenue & Growth
As of June 22, 2026, Cumulus Media Inc. (CMLS) generated trailing twelve-month (TTM) revenue of $772.2 million, reflecting significant decline in growth of -11.5% year-over-year. The most recent quarter (Q3 2025) recorded $180.3 million in revenue, down 3.1% sequentially.
Historical Growth Trajectory
CMLS's 5-year compound annual growth rate (CAGR) stands at -5.8%, indicating revenue contraction over this period. The 3-year CAGR of -3.4% exceeds the 5-year average, indicating an acceleration in the most recent period. Cumulus Media Inc.'s highest annual revenue of $1.26 billion was recorded in 2014.
Revenue by Segment
CMLS's revenue is primarily driven by Broadcast Radio Revenue (41%), Spot Revenue (28%), and Network Revenue (13%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Communication Services sector peers — including IHRT (+2.1% YoY), SBGI (-10.7% YoY), and GTN (-14.5% YoY) — CMLS has underperformed the peer group in revenue growth. Compare CMLS vs IHRT →
CMLS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CMLSCurrent | $772M | -11.5% | -5.8% | -29.0% | |
 IHRT | $3.9B | +2.1% | +5.6% | 5.0% | |
 SBGI | $3.2B | -10.7% | -11.8% | 4.9% | |
 GTN | $3.1B | -14.5% | +5.4% | 12.7% | |
 NXST | $4.9B | -4.6% | +1.9% | 17.4% | |
 SSB | $3.8B | - | - | 27.9% |
CMLS Historical Revenue Data (1998–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $827.1M | -2.1% | $502.8M | 60.8% | $-239,664,000 | -29.0% |
| 2023 | $844.5M | -11.4% | $511.2M | 60.5% | $-41,278,000 | -4.9% |
| 2022 | $953.5M | +4.0% | $596.0M | 62.5% | $79.8M | 8.4% |
| 2021 | $916.5M | +12.3% | $557.8M | 60.9% | $69.1M | 7.5% |
| 2020 | $816.2M | -26.7% | $479.1M | 58.7% | $-10,602,000 | -1.3% |
| 2019 | $1.11B | -2.4% | $707.8M | 63.6% | $166.2M | 14.9% |
| 2018 | $1.14B | +0.4% | $737.6M | 64.7% | $156.2M | 13.7% |
| 2017 | $1.14B | -0.5% | $732.7M | 64.5% | $-210,446,000 | -18.5% |
| 2016 | $1.14B | -2.3% | $713.6M | 62.5% | $-408,789,000 | -35.8% |
| 2015 | $1.17B | -7.5% | $772.3M | 66.1% | $-478,515,000 | -40.9% |
| 2014 | $1.26B | +23.1% | $359.4M | 28.4% | $161.8M | 12.8% |
| 2013 | $1.03B | -4.7% | $357.9M | 34.9% | $196.1M | 19.1% |
| 2012 | $1.08B | +95.9% | $415.1M | 38.6% | $84.8M | 7.9% |
| 2011 | $549.5M | +108.7% | $216.1M | 39.3% | $82.3M | 15.0% |
| 2010 | $263.3M | +2.8% | $103.5M | 39.3% | $71.2M | 27.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
28+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
CMLS — Frequently Asked Questions
Quick answers to the most common questions about buying CMLS stock.
Is CMLS's revenue growth accelerating or slowing?
CMLS revenue is declining -11.5% year-over-year. TTM revenue fell to $772M, contrasting with the 5-year CAGR of -5.8%. The reversal reflects either macro headwinds or company-specific challenges.
What is CMLS's revenue history from 1998 to 2026?
Cumulus Media Inc. (CMLS) revenue history spans 1998 to 2026. TTM revenue as of 2026 is $772M, growing at -11.5% YoY. The 5-year CAGR is -5.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CMLS's long-term revenue growth rate (CAGR)?
Cumulus Media Inc.'s 5-year revenue CAGR of -5.8% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -11.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CMLS.
Why does CMLS's quarterly revenue fluctuate?
CMLS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Cumulus Media Inc.'s revenue data from 1998 to 2026 shows full historical quarterly detail on this page.
How is CMLS's revenue distributed by segment?
CMLS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CMLS's revenue compare to industry peers?
Cumulus Media Inc. (CMLS) with TTM revenue of $772M and -11.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.