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.
iHeartMedia, Inc. (Nasdaq: IHRT) announced that its CEO Bob Pittman and CFO Rich Bressler will participate in a Q&A session at the BofA Securities 2022 Media, Communications and Entertainment Conference on Thursday, September 8th at 4:10 p.m. ET. A live webcast will be accessible to the public via iHeartMedia’s investor homepage. iHeartMedia is a leading audio media company in the U.S., reaching over 250 million people monthly, excelling in both broadcast and digital streaming radio, podcasting, and audio ad tech.
iHeartMedia has launched iHeartLand, a unique entertainment space within Fortnite, which will host 20 major events at State Farm Park over the next year. The opening event features Charlie Puth's first concert in the metaverse on September 9. This innovative venue aims to merge music, gaming, and fan interaction, offering events like album release parties and interactive performances. Additionally, iHeartLand will include minigames and immersive experiences designed to enhance fan engagement.
iHeartMedia announces the launch of a new weekday radio show, “Way Up with Angela Yee,” hosted by the award-winning media personality Angela Yee. The show is set to air across more than 30 iHeartMedia stations, including New York’s Power 105.1, starting Fall 2022. Yee, a veteran in the media landscape, will engage listeners with interactive content covering relationships, culture, and news. Angela Yee will depart from her role in “The Breakfast Club” to focus on this new venture, solidifying her influence in the audio media industry.
iHeartMedia reported Q2 2022 results with consolidated revenues of $954 million, an 11% increase year-over-year, aligning with guidance. GAAP operating income reached $83 million, significantly up from $28 million in Q2 2021. Adjusted EBITDA climbed 29% YoY to $237 million, with a margin of 24.9%. Digital Audio revenue surged 28% to $253 million, driven by podcast growth of 60%. Free Cash Flow was $106 million, reflecting strong cash generation and proactive capital management strategies.
BIC has launched the #Write4Teachers campaign in partnership with iHeartMedia New York, encouraging students and parents to nominate teachers for recognition. Nominations are open until August 14, with a chance for winning teachers to receive $1,000 and BIC back-to-school essentials. The campaign aims to honor educators' contributions, with winners celebrated on-air by Elvis Duran and the Morning Show. As part of its ongoing commitment to education, BIC seeks to enrich the lives of children and acknowledge teacher dedication.
iHeartMedia announces the return of the 2022 iHeartRadio Fiesta Latina to Miami on October 15 at FTX Arena. The event will feature performances by Enrique Iglesias, Nicky Jam, Becky G, and others. Iglesias will also be honored with the iHeartRadio Corazón Latino Award for his philanthropic efforts. Tickets go on sale on July 22.
This year's event also supports the Pepsi Stronger Together Scholarship, offering four scholarships of $25,000 to high school students pursuing music and arts.
iHeartMedia, Inc. (NASDAQ: IHRT) will announce its financial results for Q2 2022 on August 4, 2022, at 4:30 p.m. ET. A conference call will follow to discuss the earnings and business outlook. Investors can access a live audio webcast through the company's investor homepage. An audio replay will also be available starting at 7:30 p.m. ET on the same day for 30 days. iHeartMedia reaches over 250 million people monthly and leads in audio media segments, including broadcasting and digital streaming.
Curiosity Inc. has partnered with iHeartMedia to launch the Curiosity Audio Network, aiming to develop and release various podcasts throughout the year. This network will feature original content alongside existing programming from Curiosity's documentary library. The first podcast series, One Day University, is currently live, with plans for additional projects, including a co-produced original podcast on the life of Dean Reed. Curiosity has around 24 million subscribers globally across its video platforms, enhancing its position in factual media.
iHeartMedia has partnered with Happy Money to enhance consumer awareness and access to funding solutions. This collaboration targets U.S. consumers, leveraging iHeartMedia's reach to promote Happy Money's unsecured lending through credit unions. The partnership aims to assist those misrepresented by standard credit scoring methods, while increasing access to affordable loans. Happy Money, valued at over $1.1B, has facilitated $4.5 billion in loans for nearly 250,000 members as of July 1, 2022. The initiative is designed to drive growth and innovation in the fintech space.
iHeartMedia and Charlamagne Tha God announced the inaugural Black Effect Podcast Festival on
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