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iHeartMedia Inc. (NASDAQ: IHRT) is a leading diversified media and entertainment company headquartered in the United States, specializing in audio broadcasting and digital media solutions. With an extensive presence across multiple platforms, iHeartMedia operates through three primary business segments: the Multiplatform Group, the Digital Audio Group, and the Audio & Media Services Group, each contributing uniquely to its comprehensive portfolio.
Multiplatform Group
The Multiplatform Group encompasses iHeartMedia's traditional broadcasting operations, which include over 850 owned AM/FM radio stations spanning more than 150 markets. This segment also includes the company's networks, sponsorships, and live events businesses. With a reach of 245 million monthly listeners in the U.S., iHeartMedia boasts the largest audience of any radio or television outlet in the country. Its content is accessible via AM/FM radio, HD digital radio, satellite radio, and online platforms, ensuring a seamless experience for diverse audiences.
Digital Audio Group
The Digital Audio Group represents iHeartMedia's commitment to digital innovation. This segment includes the flagship iHeartRadio platform, a leading all-in-one digital audio service that offers live radio, custom stations, and on-demand content. With over 700 million downloads and rapid user adoption, iHeartRadio is a cornerstone of the company's digital strategy. Additionally, iHeartMedia is a dominant force in podcasting, leveraging its extensive library of original content to engage audiences and drive revenue through advertising and sponsorships.
Audio & Media Services Group
The Audio & Media Services Group includes Katz Media Group, a full-service media representation business, and RCS Sound Software, a provider of advanced scheduling and broadcast software solutions. These services cater to broadcasters and advertisers, enabling them to optimize their operations and maximize reach. This segment underscores iHeartMedia's role as a critical infrastructure provider within the audio and media ecosystem.
Competitive Landscape and Differentiation
iHeartMedia operates in a competitive media landscape alongside traditional broadcasters, digital streaming platforms, and podcasting networks. Its unique ability to integrate traditional radio with digital audio services positions it as a hybrid leader in the industry. By leveraging its unparalleled reach, proprietary technology, and diverse content offerings, iHeartMedia delivers value to advertisers seeking targeted and scalable campaigns.
Technological Innovation and Market Reach
iHeartMedia's technological initiatives extend beyond broadcasting. The company has embraced emerging platforms, making its content available on smartphones, tablets, gaming consoles, and enhanced auto dashboards. This multi-platform approach ensures that iHeartMedia remains accessible to consumers wherever they are. Additionally, its traffic and weather network reaches 196 million monthly consumers, further solidifying its role as a key information provider.
In summary, iHeartMedia Inc. is a multifaceted media powerhouse that bridges traditional and digital audio domains. With its expansive reach, innovative platforms, and diversified revenue streams, the company continues to play a pivotal role in shaping the future of audio entertainment and advertising.
iHeartMedia and FOX Entertainment announced the 2023 iHeartRadio Music Awards, honoring artists like P!NK and Taylor Swift. Swift will receive the Innovator Award for her profound impact on music and culture, highlighted by record-breaking tours and album sales, including her Grammy-winning Folklore and blockbuster Midnights. Meanwhile, P!NK will receive the Icon Award for her musical achievements and philanthropic efforts. The awards ceremony will air live from Los Angeles on March 27, featuring performances from major artists and fan-voting for various categories.
iHeartMedia (Nasdaq: IHRT) announced that its Chairman and CEO, Bob Pittman, along with President, COO, and CFO, Rich Bressler, will engage in a Q&A session at the Morgan Stanley Technology, Media & Telecom Conference. This event is scheduled for Wednesday, March 8th, at 3:15 p.m. ET. A live webcast will be accessible to the public on iHeartMedia's Investors homepage, and a replay will later be available in the Events & Presentation section.
iHeartMedia is the largest audio media company in America, reaching over 250 million people monthly, excelling in broadcast, digital streaming, podcasting, and audio ad technology.
iHeartMedia reported Q4 2022 revenue of $1,126 million, up 6% year-over-year, exceeding guidance. Excluding political revenue, growth was 1%. GAAP operating income surged 41% to $173 million, with an operating margin of 15.4%. Adjusted EBITDA rose 7% to $316 million. The Digital Audio Group saw a 10% increase in revenue, driven by a 17% rise in podcast sales. However, Q1 2023 revenue is projected to dip mid-single digits. For the full year, revenue reached $3,912 million, a 10% growth, albeit a decline in GAAP operating income due to a significant impairment charge. Cash flows and free cash flow showed strong performance, totaling $420 million and $259 million, respectively.
The 2023 Black Effect Podcast Festival will be hosted by Charlamagne Tha God and Jess Hilarious on April 22 from noon to 8 p.m. ET in
iHeartMedia has partnered with Jackpocket, the leading app for ordering official state lottery tickets, designating it as the Official Digital Lottery Courier for the Z100 Morning Show. This collaboration will provide listeners with updates on lottery drawings and jackpots, especially when Powerball and Mega Millions exceed $300 million. The partnership includes exclusive promotions and events throughout 2023, enhancing Jackpocket's visibility across iHeartMedia's platforms. Jackpocket has facilitated over $250 million in lottery winnings, making lottery play accessible and secure in fifteen states.
On February 17, the Empire State Building (ESB) and iHeartMedia will host the "iHeartRadio Album Release Party with P!NK" to celebrate her new album, TRUSTFALL. The event includes a special lighting ceremony with P!NK flipping the switch at the Observatory, followed by an exclusive interview and performance on the 80th floor. Fans can win tickets through iHeartRadio stations from February 9 to 16. The lighting show, set to her new single "Never Gonna Not Dance Again," will air on New York's Z100 and 103.5 KTU. ESB has recently undergone a $165 million renovation and is the number one attraction in the U.S., welcoming over 4 million visitors annually.
iHeartMedia, Inc. (NASDAQ: IHRT) will release its financial results for the quarter and year ending December 31, 2022 on February 28, 2023, at 4:30 p.m. (ET). A conference call will follow to discuss the financial results and business outlook. Access is available via live audio webcast on the company's investor homepage and by phone. An audio replay will be available from 7:30 p.m. (ET) on the same day for thirty days. iHeartMedia is the leading audio media company in the U.S., reaching over 250 million people monthly.
iHeartMedia has announced the return of the iHeartCountry Festival on May 13, 2023, marking its tenth year. The festival will be held at Moody Center in Austin, Texas, featuring top country artists like Luke Bryan, Kane Brown, and more. The event will be broadcast across iHeartMedia's country music radio stations.
Capital One cardholders can access exclusive pre-sale tickets starting January 24 for 48 hours. General ticket sales begin on January 27. iHeartMedia's country stations reach over 100 million listeners monthly, affirming their leading position in the industry.
The 2023 iHeartRadio Music Awards will air live from the Dolby Theatre in Los Angeles on March 27, 2023. This year's nominees include notable artists such as Doja Cat, Glass Animals, Taylor Swift, and Harry Styles competing for Song of the Year. The event celebrates the most-played songs and artists on iHeartRadio, featuring live performances and fan voting in various categories. Tickets go on sale on February 15, 2023. iHeartMedia emphasizes its significant reach, making it a prominent player in the audio media industry.
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