Iheartmedia Inc Stock Price, News & Analysis

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 Atlanta, GA. This event aims to uplift Black voices in the podcast industry with live tapings from popular shows like The 85 South Show and WHOREible Decisions. Tickets go on sale March 1 at 12 p.m. EST. The festival will also include panels on podcasting, engaging activities, and sponsorships from major brands, making it a significant event for aspiring podcasters and the Black community.

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.