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 has partnered with Martha Stewart to launch a new original podcast titled ‘The Martha Stewart Podcast,’ premiering on June 22. The podcast will feature in-depth interviews with influential personalities, including Snoop Dogg and Kris Jenner, exploring their journeys and insights. Martha will also share personal audio diary segments, offering listeners a glimpse into her life. This partnership highlights iHeartMedia's position as the leading podcast publisher with unmatched reach, aiming to provide valuable brand-building and leadership advice for its audience.
iHeartMedia and State Farm have partnered to redefine entertainment in the metaverse, launching iHeartLand to celebrate State Farm's 100th anniversary. This innovative platform will merge major album releases, hit podcasts, and interactive gaming. CEO Conal Byrne stated that iHeartLand aims to connect artists, brands, and fans in unprecedented ways. Rand Harbert from State Farm emphasized their commitment to creating unique, engaging experiences for consumers. The launch will feature performances, music drops, and interactive podcasts, making it a dynamic entertainment destination.
iHeartMedia announced the 2022 iHeartRadio Music Festival, taking place on September 23-24 at T-Mobile Arena in Las Vegas. The festival features performances from a star-studded lineup including Avril Lavigne, Black Eyed Peas, Halsey, and more. The event will be hosted by Ryan Seacrest and will also include a Daytime Stage on September 24 at AREA15 featuring various artists. The festival will be broadcast on The CW Network and livestreamed through its app. General tickets go on sale from June 17.
iHeartMedia, Inc. (Nasdaq: IHRT) will participate in J.P. Morgan’s 50th Annual Global Technology, Media and Communications Conference in Boston on May 24 at 3:30 p.m. ET. The session will feature CEO Bob Pittman and President Rich Bressler. A live webcast will be accessible through iHeartMedia’s investors homepage. iHeartMedia is a leading audio media company, reaching over 250 million people monthly, excelling in broadcast and digital streaming radio, podcasting, and audio ad tech.
The "Can’t Cancel Pride - Proud AND Together" event, hosted by Procter & Gamble and iHeartMedia, will honor Elton John with the inaugural Impact Award for his humanitarian efforts through the Elton John AIDS Foundation, which celebrates its 30th anniversary. This year's event, live-streamed on June 14, features performances by top artists such as Katy Perry and Lizzo, aiming to raise visibility and funds for LGBTQ+ organizations. In previous years, the event raised over $8.3 million and reached 6.3 million viewers in 2021 alone.
iHeartMedia reported Q1 2022 financial results, with revenues of $843 million, marking a 19.4% increase year-over-year. The company achieved a GAAP operating income of $12 million, a turnaround from a $76 million loss in Q1 2021. Adjusted EBITDA rose 42% to $145 million, with a margin of 17.2%. Digital Audio Group revenues increased 36%, and podcast revenues surged 79%. Despite cash flows from operating activities at $(52 million) and free cash flow at $(75 million), the outlook remains positive with Q2 revenue expected to rise by 10%-14%.
iHeartMedia (NASDAQ:IHRT) and P&G are collaborating for the third annual "Can’t Cancel Pride 2022 – Proud AND Together" event this June. Set for June 14 at 8 p.m. ET, the fundraiser celebrates LGBTQ+ visibility and activism. The previous events have raised over $8.3 million for organizations like GLAAD and The Trevor Project, with 2021 attracting 6.3 million viewers. The event will stream on iHeartRadio platforms and emphasizes themes of community and strength amidst challenges faced by the LGBTQ+ community.
iHeartMedia has appointed Sarah van Mosel as Executive Vice President of the iHeart Audience Network (iAN). This new service aims to simplify audio advertising by utilizing iHeartRadio's extensive database and premium publishers, enhancing brand targeting across channels. Van Mosel, formerly Chief Revenue Officer at Stitcher, will oversee sales operations and partnerships, reporting to CEO Conal Byrne. The iAN is poised to unify audio advertising and leverage innovative technology for brand safety, positioning iHeart as a leader in the evolving audio landscape.
iHeartMedia, the leading podcast publisher globally, collaborates with Seneca Women to launch the inaugural Seneca Women Podcast Academy. This six-week program, starting in May, aims to empower ten female podcasters selected from their initiative, “Seneca Women to Hear”. Participants will receive mentorship from industry veterans, stipends, and audio equipment. iHeartMedia's recent report indicates that 50% of their new shows are hosted by women, highlighting their commitment to diversifying podcast content. The winners will produce shows for the Seneca Women Podcast Network.
iHeartMedia, Inc. (NASDAQ: IHRT) will release its financial results for Q1 2022 on
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