Tag: Media

Alliance Entertainment Holding (AENT) – Favorable Undercurrents Support Operating Momentum

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Monday, May 18, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Q3 results. The company reported Q3 revenue of $258.2 million, up a strong 21.2% YoY, and adj. EBITDA of $5.1 million, both of which surpassed our estimates of $223.1 million and $4.2 million, respectively. Notably, nearly all of its core categories generated double-digit top-line growth year over year, with CD revenue up 90% to $39 million. 

Margin expansion focus. The company is focused on driving margin expansion by shifting its product mix toward higher-margin categories, including premium collectibles, owned brands, authenticated products, and exclusive physical media releases. Importantly, revenue growth in physical media and collectibles is expected to drive operating leverage, while the integration of Endstate Authentic and the launch of Alliance Authentic position the company to capture incremental high-margin revenue and extended lifecycle participation.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Newsmax (NMAX) – Starts Year with Strong Momentum

Posted on by [email protected]


Friday, May 15, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q1 Overdelivers expectations. As Figure #1 Q1 Results illustrates, the company reported Q1 revenue of $51.7 million, in line with our estimate of $50.3 million, and an adj. EBITDA loss of $354,000, outperforming our forecast loss of $3.1 million. The variance in adj. EBITDA was driven primarily by lower-than-expected professional fees and marketing expenses.

Favorable operating momentum. First-quarter results demonstrated continued resilience in a non-election-year environment, with revenue growth supported by affiliate fee expansion, improving distribution economics, and stable audience engagement trends across cable and streaming platforms. Affiliate renewals, streaming monetization initiatives, and international licensing continued to gain traction despite ongoing pressure on near-term profitability from investment spending.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

E.W. Scripps (SSP) – Sports Momentum Driving Transformation

Posted on by [email protected]


Thursday, May 14, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q1 results largely in line with expectations. The company reported Q1 revenue of $517 million, down 1.4% year-over-year, while reporting a loss attributable to shareholders of $(18) million, or $(0.20) per share. Importantly, Local Media trends remained among the strongest in the industry, driven by sports advertising demand tied to the Winter Olympics, Super Bowl, and expanding NHL partnerships.

Local Media continues to outperform peers. Adjusted combined Local Media revenue increased 5.8% to $331 million, while core advertising revenue increased a healthy 7% to $137 million. Segment profit improved to $43.7 million from $32.3 million in the prior-year period despite modest expense growth, reflecting favorable operating leverage and strong advertiser demand.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Direct Digital Holdings (DRCT) – Margin Gains Offset Revenue Pressure

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Tuesday, May 12, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Margin gains offset softer revenue trends. First-quarter revenue declined 18% due to lower DSP customer spending, but gross margin improved to 34% from 29%, reflecting improved mix and operating discipline.

Ignition+ and enterprise expansion remain central to the growth strategy. Management highlighted encouraging enterprise engagement trends and continued investment in broader go-to-market initiatives designed to improve scalability and customer diversification. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Saga Communications (SGA) – Digital Investments Take A Toll

Posted on by [email protected]


Friday, May 08, 2026

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q1 results. The company reported Q1 revenue of $22.9 million and adj. EBITDA loss of $1.6 million below our estimates of $24 million and a loss of $0.8 million, respectively, as illustrated in Figure #1 Q1 Results. Results were impacted by softness in traditional broadcast revenue, while digital Interactive revenue remained a bright spot, increasing 25% y-o-y.

Digital growth. The company continued to implement its blended digital-radio strategy, integrating broadcast and digital solutions to enhance advertiser engagement and retention. Total Interactive revenue reached $4.4 million, an increase of 25.2% year over year. This expansion was driven by triple-digit gains in high-margin segments, specifically search (up 105%) and targeted display (up 120%)


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

E.W. Scripps (SSP) – Transformation Gains Momentum

Posted on by [email protected]


Friday, May 08, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q1 results in line with expectations. The company reported Q1 revenue of $517 million, down 1.4% year-over-year, while reporting a loss attributable to shareholders of $(18) million, or $(0.20) per share. Figure #1 Q1 2026 Results highlights that our revenue estimate was $518.6 million. Importantly, Local Media trends remained favorable, benefiting from strong sports advertising demand, the Winter Olympics, and the Super Bowl.

Local Media remains a bright spot. Adjusted combined Local Media revenue increased 5.8% to $331 million, while core advertising revenue increased a healthy 7% to $137 million. Segment profit improved to $43.7 million from $32.3 million in the prior-year period despite modest expense growth.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Newsmax Surpasses 25 Million Social Media Followers

Posted on by [email protected]

May 6, 2026

BOCA RATON, FL / ACCESS Newswire / May 6, 2026 / Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) today announced a major milestone in its digital expansion, surpassing 25 million followers across all social media platforms.

Newsmax continuous and significant growth in social media followers – up 25% from a year ago – underscores the brand’s accelerating reach and deepening engagement with audiences nationwide.

The Company reported 25.4 million total social media followers, driven by strong growth across nearly every platform.

This milestone comes alongside record-setting audience metrics, including 104.18 million in Q1 2026 Facebook user reach-a 44% increase quarter-over-quarter and an impressive 119% increase compared to the first quarter of 2025.

The Company noted that this marks the largest Facebook reach in Newsmax history.

“This growth shows that Newsmax is truly touching a nerve with audiences,” said Christopher Ruddy, CEO of Newsmax. “We are continuing to execute on our strategy to reach all people on all platforms, and the results speak for themselves.”

Newsmax’s social media expansion reflects sustained momentum across both established and emerging platforms:

  • Facebook: 6.2 million followers (+22% since June 2025)
  • YouTube Live: 2.6 million followers (+8%)
  • Truth Social: 6.9+ million followers (+61%)
  • Twitter/X: 3.7+ million followers (+7%)
  • Instagram: 2.2 million followers (+13%)
  • Gettr: 1.5 million followers (+25%)
  • TikTok: 188,000+ followers (+52%)

This widespread growth highlights Newsmax’s ability to connect with audiences across diverse demographics and content ecosystems, from traditional social giants to emerging alternative platforms.

Beyond social media, Newsmax continues to see strong performance across its broader digital footprint.

The Newsmax App has now surpassed 13 million downloads, reflecting growing demand for direct-to-consumer streaming access to the network’s programming.

The Newsmax App allows users to easily access the free Newsmax2 streaming channel, Newsmax.com, as well as the Newsmax+ paid service offering the regular Newsmax channel.

Combined with its social reach, these figures illustrate a rapidly expanding, multi-platform media presence that allows Newsmax to engage audiences wherever they consume content.

The Company attributes its growth to a combination of timely news coverage, opinion programming and a strong connection with viewers seeking fresh perspectives in the media landscape.

“Passion for our brand remains incredibly strong,” Ruddy added. “We’re seeing audiences actively seek out Newsmax across platforms, share our content and become part of a growing community that values our reporting and viewpoint.”

About Newsmax

Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major pay TV providers. Newsmax’s media properties reach more than 50 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches over 25 million combined followers. Reuters Institute has said Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”

Investor Contacts

Newsmax Investor Relations
[email protected]

SOURCE: Newsmax Inc.

Direct Digital Holdings (DRCT) – Strategic Progress Continues

Posted on by [email protected]


Friday, April 24, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Reverse split supports Nasdaq compliance and preserves strategic listing. The announced 4-for-1 reverse stock split (effective April 27, 2026), following the earlier 55-for-1 split, is intended to maintain Nasdaq compliance and preserve access to institutional capital, a key asset for executing the company’s long-term strategy.

Capital access remains intact, supporting operations through the transition period. Management continues to utilize equity facilities and recent capital raises to fund operations, with additional financing expected to bridge the company to anticipated cash-flow improvements in the second half of 2026.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Direct Digital Holdings (DRCT) – Early Signs of Stabilization Emerge

Posted on by [email protected]


Wednesday, April 08, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Post Q4 investor call. This report provides additional color on the recently reported fourth-quarter and full-year 2025 results and the outlook for 2026 and beyond. We are posting 2027 estimates, which anticipate mid-teen revenue growth and positive adj. EBITDA. 

New customer wins in energy and expanding vertical mix improve growth quality and reduce seasonality.
Buy-side momentum was driven by new customer additions, particularly in the energy vertical and by expansion into education. This diversification is helping stabilize revenue trends and reduce historical second-half weakness.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Newsmax (NMAX) – Structural Growth Story Intact; Tweaking Price Target

Posted on by [email protected]


Tuesday, April 07, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Q4 execution with continued top-line momentum. Newsmax delivered Q4 revenue growth of 9.6% year-over-year, driven by affiliate fee expansion and resilient advertising demand, outperforming expectations in a non-election year environment. The company continues to scale across cable, streaming (FAST), subscription, and digital platforms, expanding distribution to 100+ countries and reinforcing its position as the #4 cable news network.

Affiliate fee upside remains key long-term catalyst. Ongoing contract renewals and repricing opportunities provide meaningful upside potential, with current rates still significantly below industry peers. Based on recent contracts and a favorable 2026 outlook, we have revised our 2026 affiliate fee revenue estimate upward from $43.4 million to $49.8 million. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Direct Digital Holdings (DRCT) – Buy-Side Pivot Gains Traction

Posted on by [email protected]


Thursday, April 02, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

An in-line Q4. Direct Digital reported Q4 revenue of $8.4M (down 7% YoY), reflecting a sharp decline in sell-side activity, partially offset by strong buy-side growth (+28% YoY). Total company revenues of $8.4 million were better than our $7.7 million estimate. Q4 adj. EBITDA loss was in line with expectations, at $3.6 million versus $3.4 million.  

Buy-side momentum offsetting structural sell-side decline. The primary driver of the quarter was strength in the buy-side segment, supported by improved customer acquisition, higher conversion rates, and increased contribution from returning customers, while the sell-side business experienced significant contraction due to reduced inventory and strategic deprioritization. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Newsmax (NMAX) – Among The Few Media Growth Companies

Posted on by [email protected]


Friday, March 27, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Exceeds Q4 results. Newsmax delivered solid fourth quarter results with total revenue of $52.2 million, representing a 9.6% year-over-year increase, driven primarily by growth in broadcasting revenue, particularly affiliate fees and linear advertising demand. Importantly, profitability trends improved meaningfully, with adjusted EBITDA outperforming expectations, reflecting early signs of operating leverage despite continued investment in content and infrastructure.

Quarter Highlights: The quarter was characterized by strong execution across key operating metrics, including robust affiliate fee growth (+17.9%), continued resilience in advertising revenue, and significant audience expansion across both linear and streaming platforms. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Snail (SNAL) – Release Roadmap Shifts Focus To 2027

Posted on by [email protected]


Friday, March 20, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 results in line with expectations. Revenue of $25.1M and adj. EBITDA loss of $1.3 million was better than our expectations of $23.0 million and a loss estimate of $1.77 million, respectively. The quarter was supported by deferred revenue recognition and strong sequential revenue improvement.

ARK franchise momentum remains strong, with ASA surpassing 4M units sold and continued engagement across ASA, ASE, and ARK Mobile, reinforcing long-term durability. There appears to be a robust multi-year content pipeline which provides visibility, though updated timing shifts a portion of expected revenue and adj. EBITDA from 2026 into 2027.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.