Welcome to our dedicated page for iHeartMedia news (Ticker: IHRT), a resource for investors and traders seeking the latest updates and insights on iHeartMedia stock.
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.
UNest, a fintech firm, has partnered with iHeartMedia to launch a nationwide campaign aimed at educating parents on saving and investing for their children's futures. This initiative leverages iHeartMedia's extensive audio network to reach millions of households. With over 500,000 parents utilizing its app, UNest offers tools for creating tax-advantaged custodial accounts, enabling investments in diverse funds, including ETFs and cryptocurrencies. The partnership responds to the financial awareness gap for the 70% of Americans unaware of saving tools for significant life events.
The Empire State Building (ESB), in partnership with iHeartMedia (IHRT), is launching its annual holiday music-to-light show featuring songs from the Backstreet Boys' new album, "A Very Backstreet Christmas." The light show will premiere on Dec. 19 and continue nightly through Dec. 25, synchronized with a broadcast at 7 p.m. EST on select iHeartRadio stations. The event aims to unite fans worldwide and continues the ESB's tradition of spreading joy during the holiday season.
NYX Professional Makeup has launched its Spring 2023 collection in the metaverse, specifically within iHeartLand on Roblox. This immersive experience allows users to explore the 'House of NYX Professional Makeup' and engage with limited-edition makeup looks inspired by the new collection. Available from December 19, the virtual space will attract Roblox's 58.8 million daily active users. This initiative aims to enhance consumer interaction and celebrate self-expression while strengthening the brand's digital presence through strategic partnerships.
The 2023 iHeartPodcast Awards will celebrate excellence in podcasting across 29 categories. The event, hosted by iHeartMedia, will stream live on March 14 at 9 p.m. ET. Nominees for Podcast of the Year include popular shows like 'Crime Junkie' and 'SmartLess.' Icon Awards will honor industry leaders including Kara Swisher and Ashley Flowers. Podcast fans can vote for their favorites on Twitter until year-end. iHeartMedia, recognized as the top podcast publisher, emphasizes growth within the industry and its commitment to supporting innovative creators.
iHeartMedia (Nasdaq: IHRT) announced that Chairman and CEO Bob Pittman and President, COO & CFO Rich Bressler will participate in a Q&A session at the Wells Fargo TMT Summit on November 30th at 4:10 p.m. ET. A live webcast will be available to the public on iHeartMedia's Investors homepage, with a replay accessible later in the Events & Presentation section. iHeartMedia is a leading audio media company in America, reaching over 250 million people monthly and excelling in broadcast, digital streaming radio, podcasting, and audio ad tech.
The American Advertising Federation (AAF), alongside iHeartMedia and Known, has launched a new podcast series titled "Future Legends of Advertising". Coinciding with the 30th anniversary of the AAF Advertising Hall of Achievement, this eight-part series will connect seasoned advertising professionals with this year's inductees. Topics include branded content, data science, DEI, and the future of marketing. The first episode features Wenda Harris Millard and Crystal Zerrenner discussing the power of taking risks. The podcast aims to inspire creativity and innovation in the industry.
iHeartMedia invites listeners to celebrate Elton John's career with an hour-long special titled 'iHeartRadio Presents Elton John’s Thank You to America: The Final Song.' This event will broadcast on over 320 stations on November 20, 2022, featuring highlights from John’s career and a live simulcast of his final performance in America at Dodger Stadium.
Special guests include Dua Lipa, Brandi Carlile, and Kiki Dee. The broadcast will also showcase exclusive interviews and performances, marking a historic conclusion to John's five-decade touring career in North America.
iHeartMedia reported Q3 2022 financial results, showcasing revenues of $989 million, up 7% year-over-year. However, GAAP operating loss reached $211 million, attributed to a $302 million non-cash impairment charge due to rising interest rates. Adjusted EBITDA increased 10% to $252 million, with a margin of 25.5%. The Digital Audio Group experienced significant growth, with revenues up 23%, while the Multiplatform Group remained stable at $660 million. Guidance for Q4 projects revenue growth of 2%-6% year-over-year.
iHeartMedia, Inc. (NASDAQ: IHRT) will release its financial results for Q3 2022 on November 3, 2022, at 4:30 p.m. (ET). A conference call will follow to discuss the results and business outlook. Investors can access a live webcast on iHeartMedia’s website. The audio replay will be available starting at 7:30 p.m. (ET) on the same day for 30 days. iHeartMedia is a leading audio media company, reaching over 250 million people monthly and excelling in broadcast, digital streaming, and podcasting.
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