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iHeartMedia, Inc. (Nasdaq: IHRT) is a leading multimedia and entertainment company based in the United States, recognized for its wide-reaching influence in the audio broadcasting industry. With a substantial presence across multiple platforms, iHeartMedia boasts an impressive 245 million monthly listeners in the U.S., 87 million monthly digital uniques, and over 75 million social followers. The company has the largest reach of any radio or television outlet in America, serving over 150 markets through its 858 owned radio stations.
iHeartMedia operates through three primary segments: the Multiplatform Group, the Digital Audio Group, and the Audio & Media Services Group. The Multiplatform Group, which includes the company's broadcast radio, networks, sponsorships, and events businesses, is the company’s prime revenue driver. The Digital Audio Group encompasses iHeartMedia's digital ventures, notably including podcasting, which is a rapidly growing segment for the company. The Audio & Media Services Group includes Katz Media Group, a full-service media representation business, and RCS Sound Software, a provider of scheduling and broadcast software and services.
iHeartMedia's signature digital radio platform, iHeartRadio, is a top-ranking all-in-one digital audio service, boasting over 700 million downloads. It achieved a milestone by reaching its first 20 million registered users faster than any digital service in internet history, and it hit 70 million users quicker than any other radio or digital music service, outperforming even Facebook in terms of growth rate.
Recently, iHeartMedia has engaged in significant partnerships to expand its reach and influence. One notable collaboration is with MundoNow's Oyénos Audio Network. This partnership aims to distribute a diverse range of podcasts, enriching the podcasting landscape with multifaceted Latino experiences. Oyénos has experienced remarkable growth since its launch, averaging 1.5 million downloads per month. This partnership allows iHeartMedia to leverage its vast reach and extensive marketing assets to further grow the platform and bring diverse content to new audiences.
iHeartMedia continues to lead the audio media industry, reaching over 90% of Americans each month with its broadcast radio assets alone, which have more consumer reach in the U.S. than any other media outlet. The company is also the largest podcast publisher according to Podtrac, with more downloads than the next two podcast publishers combined. Its strong audience connection and unparalleled consumer reach enable it to build and innovate new platforms, products, and services.
iHeartMedia (IHRT) reported Q4 2024 financial results with consolidated revenue of $1,118 million, up 4.8% year-over-year. The company achieved a GAAP operating income of $105 million and Consolidated Adjusted EBITDA of $246 million, up 18.2% from Q4 2023.
Key highlights include completion of a Debt Exchange Transaction, exchanging approximately $4.8 billion of existing debt and extending maturities by three years. The company implemented a modernization cost reduction program expected to generate $200 million in annual savings for 2025 (net $150 million after anticipated cost increases).
The Digital Audio Group saw revenue growth of 7% to $339 million, with podcast revenue up 6% to $140 million. The Multiplatform Group revenue remained flat at $684 million. The company ended Q4 with $260 million cash balance and $686 million in total available liquidity, achieving its lowest Net Debt position in company history at approximately $4.52 billion.
iHeartMedia, America's leading podcast network, has partnered with Qatar's Government Communications Office in a multi-year agreement to establish a major podcasting hub in the Middle East and North Africa (MENA) region. The collaboration includes building a state-of-the-art podcast studio in Qatar and introducing popular global podcasts to Arabic-speaking audiences.
The initiative will feature specialized masterclasses for local talent development and host global industry events, including Web Summit gatherings. The partnership aims to create original shows and establish Qatar as a central meeting point for global podcasting voices. This aligns with Qatar's National Vision 2030, focusing on digital media development and knowledge-sharing.
The announcement follows iHeartMedia's earlier agreement to become the Official Podcast Partner for Web Summit Qatar 2025. The partnership was revealed at Web Summit Qatar's main stage, featuring prominent figures including Malcolm Gladwell, Jay Shetty, David Eagleman, and Jonathan Strickland.
iHeartMedia (NASDAQ: IHRT) has announced it will release its financial results for Q4 and full-year 2024 on Thursday, February 27th, 2025. The company will host a conference call at 4:30 p.m. ET to discuss the results and business outlook. Investors can access the live audio webcast through iHeartMedia's investor website, or join via phone using specific dial-in numbers. An audio replay will be available for 30 days following the call, starting at 7:30 p.m. ET on the same day.
iHeart LA and the Dream Center launched a fundraising campaign following devastating wildfires in Los Angeles, resulting in one of iHeart's largest grassroots giving efforts. The initiative has raised over $15 million in cash and in-kind donations, with continuing contributions being accepted.
Key achievements include:
- Over 8,000 volunteers participated
- More than 80,000 individuals received essential supplies
- Over 19,000 cars accessed the Dream Center supply line
The campaign, launched on January 7, provided essential items including food, water, diapers, and clothing to affected families. Paul Corvino, Division President for iHeart LA, emphasized the community's strength and generosity, while Dream Center Founder Matthew Barnett highlighted the extraordinary response to the crisis.
iHeartMedia, the global leader in podcast publishing, has announced a strategic partnership with Exactly Right Media (ERM). The deal makes iHeartMedia the exclusive sales, marketing, and distribution partner for ERM's entire podcast portfolio, including their flagship show 'My Favorite Murder' and 13 other premium podcasts.
The partnership coincides with 'My Favorite Murder's' 9th anniversary, a show that has achieved approximately two billion lifetime downloads and whose hosts have sold out over 100 live shows globally. The agreement includes the co-production of new shows, leveraging ERM's new audio and video studio opened in May 2024.
The deal encompasses popular shows like 'Buried Bones,' 'Ghosted! by Roz Hernandez,' and 'This Podcast Will Kill You.' 'My Favorite Murder' has received multiple industry recognitions, including the iHeartPodcast Awards' Audio Pioneer Icon Award and a Silver Spotify Creator Milestone Award.
BBC Studios and iHeartMedia have announced a multi-year partnership making iHeart the exclusive third-party advertising reseller of BBC podcasts in the U.S. market. This strategic expansion will leverage iHeartMedia's audio sales force to represent BBC's premium podcast portfolio, which includes popular shows like Global News Podcast, World of Secrets, and In Our Time.
The partnership follows BBC Studios' launch of a dedicated audio unit in early 2024 to maximize opportunities in the global audio market. Through iHeart's Triton technology, the collaboration will enable brands to incorporate BBC podcasts across BBC's digital platforms, including BBC.com, YouTube channels, FAST channels, and social media.
iHeartPodcasts, ranked as the No. 1 podcast publisher globally by Podtrac, will help extend BBC's podcast growth in the U.S. The deal builds on BBC Studios' recent partnership with Triton Digital, an iHeartMedia-owned company, for leveraging digital audio platforms and tools outside the UK.
iHeartMedia, the global leader in podcast publishing, has partnered with Qatar's Government Communications Office as the official podcast partner for Web Summit Qatar 2025. The event, scheduled for February 23-26, 2025, at the Doha Exhibition and Convention Centre, expects to attract over 20,000 technology and business leaders and 1,250 startups.
The summit will feature prominent iHeartPodcasts talent including Malcolm Gladwell, Jay Shetty, and David Eagleman, alongside Conal Byrne, CEO of iHeartMedia Digital Audio Group. A new addition to the conference, the iHeart Podcast Creator Studio, will offer live podcast recordings and an attendee lounge. The studio will host various podcast courses covering storytelling, technical setup, production basics, and marketing strategies.
iHeartMedia and FOX Entertainment announced the nominees for the 2025 iHeartRadio Music Awards, scheduled to air LIVE from Dolby Theatre in Los Angeles on Monday, March 17. The event will honor Lady Gaga with the 2025 iHeartRadio Innovator Award and Mariah Carey with the 2025 iHeartRadio Icon Award.
The 12th annual ceremony will celebrate the most-played artists and songs on iHeartRadio stations throughout 2024. This year's event will pay tribute to Los Angeles's resilience following devastating wildfires and drive donations to Fireaidla.org. Taylor Swift, Morgan Wallen, Post Malone, Sabrina Carpenter, and Kendrick Lamar lead with the most nominations, with Swift's Eras Tour being celebrated as Tour of the Century.
The awards include fan-voted categories such as Favorite Soundtrack, Broadway Debut, K-pop Dance Challenge, and Tour Style. Voting begins January 22 and closes March 10.
iHeartMedia, The Martin Luther King III Foundation and Legacy+ announced 'My Legacy', a new podcast series launching January 20, 2025. The series will feature intimate conversations with influential leaders and public figures, hosted by Martin Luther King III, Arndrea Waters King, and Legacy+ founders Craig and Marc Kielburger.
The weekly podcast will debut on MLK Day, featuring guests like Mel Robbins, Dr. Sanjay Gupta, David Oyelowo, Billy Porter, and Martin Sheen, accompanied by their close confidantes. The series aims to explore defining moments and untold struggles shaping their legacies.
As part of the initiative, iHeartMedia will award a $5 million Spotlight Media Grant to the 'Realize the Dream' Movement, supporting their goal to inspire 100 million hours of community service before Dr. King's 100th birth anniversary in 2029.
iHeartMedia has announced the twelfth annual iHeartCountry Festival Presented by Capital One, scheduled for May 3, 2025, at the Moody Center in Austin, Texas. The festival will feature performances by country music stars including Brooks & Dunn, Thomas Rhett, Rascal Flatts, Sam Hunt, Megan Moroney, Bailey Zimmerman, and Nate Smith.
The event, hosted by Bobby Bones, will be exclusively livestreamed on Hulu for subscribers at no additional cost and broadcast across iHeartCountry stations nationwide. Capital One cardholders get exclusive presale access from January 21-23, with general public tickets available from January 24. Cardholders can also purchase a Capital One Access Pass for an exclusive pre-event featuring Rascal Flatts.
St. Jude Children's Research Hospital® is the benefiting charity partner for the 2025 festival, with fans able to support through donations at musicgives.org.
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