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 launched a groundbreaking NFT-based media franchise called the Non-Fun Squad, integrating characters from various NFT collections into a unified audio universe. This initiative includes the creation of the Non-Fun Podcast Network, designed around these characters, enhancing audience engagement with innovative storytelling. Collaborating with Anchorage Digital, iHeart aims to leverage its extensive reach to promote Web3 products, marking a significant step in audio content innovation. The first phase will feature NFTs from renowned collections like CryptoPunk and Mutant Ape.
iHeartMedia D.C. and the Washington Commanders have entered a three-year partnership to become the exclusive radio broadcast partner for the team starting in the 2022 season. This collaboration includes live gameday broadcasts on BIG 100.3 FM and on the iHeartRadio App, significantly expanding the team's reach in the DMV area. The partnership will also provide exclusive programming and access to archived games for fans. iHeartMedia's strong market presence as a leading audio media company supports this initiative.
iHeartMedia announces the 2022 iHeartRadio KIIS FM Wango Tango summer festival, set for June 4 at Dignity Health Sports Park, Los Angeles.
Hosted by Ryan Seacrest, the event features performances from major artists including Shawn Mendes, The Chainsmokers, Camila Cabello, and more. It will be broadcast live across iHeartMedia radio stations in 94 markets.
VIP Pre-Sale begins on April 7, with general ticket sales on April 8.
iHeartMedia (NASDAQ: IHRT) announced the appointment of Sam Englebardt, General Partner of Galaxy Interactive, to its Board of Directors. Englebardt is renowned for his expertise in media, technology, and the metaverse, making him a valuable addition as iHeart expands into web3 and emerging tech platforms. His background includes significant roles at Galaxy Digital and Lambert Media Group. iHeartMedia remains the largest audio media company in the U.S., reaching over 90% of Americans monthly with leading podcast and radio assets.
iHeartMedia and FOX Entertainment announced that the 2022 iHeartRadio Music Awards will air live on March 22 from The Shrine Auditorium in Los Angeles. The show will feature performances from notable artists including Jennifer Lopez, who will receive the Icon Award, and various other top performers. The awards celebrate the most-played artists and songs on iHeartRadio stations in 2021, with fan voting for several categories ongoing until March 15. iHeartMedia continues to solidify its leading position in the audio media landscape.
iHeartMedia (Nasdaq: IHRT) announced that Chairman and CEO Bob Pittman and President Rich Bressler will participate in a Q&A session at Deutsche Bank’s 30th Annual Media, Internet & Telecom Conference. This event is scheduled for March 15th at 2:50 p.m. ET in Palm Beach, Florida. A live webcast will be accessible to the public via iHeartMedia’s Investors homepage, with a replay available afterward. iHeartMedia is a leading audio media company, reaching over 250 million people monthly, excelling in broadcast, digital streaming, and podcasting.
iHeartMedia and FOX Entertainment announced that
iHeartMedia (Nasdaq: IHRT) reported its Q4 and full-year 2021 financial results, highlighting a 14% YoY revenue increase to $1,062 million. Noteworthy growth was seen in the Digital Audio Group, with revenue soaring 59% YoY and podcast revenue up 130% YoY. Adjusted EBITDA rose 11% YoY to $294 million, while free cash flow stood at $52 million. The company reduced its term loan by $250 million in July and repurchased $60 million in preferred stock in October. iHeartMedia anticipates 18.3% revenue growth in Q1 2022, driven by robust advertising demand.
Veritone (NASDAQ: VERI) and iHeartMedia (NASDAQ: IHRT) announced a collaboration to utilize Veritone’s synthetic voice solution for podcast content. This technology enables iHeartMedia to create verified synthetic voices, transforming them into various languages and accents. Initially, popular podcasts will be translated for Spanish-speaking audiences, aiming to expand iHeartMedia's reach in the podcast market. The solution promises to lower production costs while retaining the authenticity of the original voice talent, thus unlocking new revenue streams for both companies.
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