MediaCo Reports Strong Q4 and Full-Year 2025 Financial Results

Multicultural media company sees 40% revenue growth, driven by new acquisitions and digital expansion

Mar. 31, 2026 at 10:55pm

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MediaCo Holding Inc. (Nasdaq: MDIA) today reported financial results for the fourth quarter and full year ended December 31, 2025. The company saw a 40% year-over-year increase in net revenue to $133.3 million, driven by new video and audio assets from the 2024 Estrella Media acquisition and strong digital growth. However, the company also reported a $66.2 million net loss, reflecting non-cash charges related to warrant liabilities and impairments.

Why it matters

MediaCo's results highlight the company's successful integration of the Estrella Media acquisition and its ability to drive growth through digital expansion, even as it faces challenges from non-cash charges. The strong revenue performance and improved adjusted EBITDA suggest the company is well-positioned to continue expanding its multicultural media footprint.

The details

MediaCo's fourth quarter net revenue grew 18% year-over-year to $38.7 million, with digital revenue accounting for over 50% of the top line. For the full year, net revenue was $133.3 million, up 40% from 2024. However, the company reported a $66.2 million net loss, compared to a $1.3 million loss the prior year, due to non-cash items like changes in warrant liability fair value and impairment charges. Adjusted EBITDA, a non-GAAP metric, improved by $8.9 million to $7.3 million for the full year.

  • MediaCo completed the Estrella Media acquisition in April 2024.
  • The company launched its Sigma Audio Networks multicultural audio network in February 2026.
  • MediaCo's HOT 97 launched a new morning show with host The Kid Mero in January 2026.
  • HOT 97 News, a daily live national and local TV show, also launched in January 2026.

The players

MediaCo Holding Inc.

A diverse-owned, multi-platform media company serving multicultural audiences across the U.S. through brands like Hot 97, WBLS, EstrellaTV, and the Don Cheto Radio Network.

Albert Rodriguez

CEO and President of MediaCo.

Estrella Media, Inc.

A media company acquired by MediaCo in April 2024, which includes the EstrellaTV network.

Katz Television Group

A division of Katz Media Group that began serving as national media sales representative for MediaCo's owned-and-operated EstrellaTV stations in 2025.

Sigma Audio Networks LLC

A multicultural audio network launched by MediaCo in February 2026 to modernize how advertisers reach diverse audiences.

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What they’re saying

“In our first full calendar year of operation, we achieved substantial gains across every facet of our plan, reflecting disciplined execution and a relentless focus on growth, as we build on our leadership position in serving multicultural audiences at the national and local level.”

— Albert Rodriguez, CEO and President of MediaCo

What’s next

MediaCo plans to continue expanding its platform and programming to further grow its audience and attract more advertising dollars, while also focusing on operational efficiencies to drive improved profitability.

The takeaway

MediaCo's strong financial and audience performance in 2025, driven by strategic acquisitions and digital expansion, positions the company well to continue serving the growing multicultural media market and deliver value to shareholders.