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, the largest audio media company in the U.S., has announced a partnership with Sounder, an audio intelligence platform. This collaboration aims to enhance monetization, brand safety, and content discoverability for podcasts. By utilizing Sounder’s Audio Data Cloud, iHeartMedia will provide creators with AI and Machine Learning tools for insights to boost growth. iHeartMedia has also invested in Sounder’s Series A round. The initiative is set to improve targeted advertising, ensuring a safe environment for advertisers across iHeart's extensive podcast network, which boasts over 392 million downloads monthly.
iHeartMedia, Inc. (NASDAQ: IHRT) will announce its financial results for the quarter and year ending December 31, 2021, on February 23, 2022, at 8:30 a.m. ET. A conference call will follow to discuss the results and future business outlook. Interested parties can access the call via the company's Investors homepage or by calling 833-350-1328 (domestic) or +1 236-389-2425 (international). An audio replay will be available starting at 11:30 a.m. ET on the same day for 30 days.
iHeartMedia is the leading audio media company in America, reaching over 250 million people monthly.
The 2022 iHeartRadio Music Awards, airing live on March 22 from Los Angeles, will honor the most-played artists and songs from iHeartRadio stations. Nominees include Ariana Grande, Bruno Mars, and Olivia Rodrigo, among others. The show features categories voted by fans, including Best Fan Army and Best Lyrics, with voting open until March 15. iHeartMedia emphasizes its vast reach, claiming to connect with over 90% of Americans monthly, underscoring its position as a leading audio media company in the U.S.
iHeartMedia announced the return of the iHeartCountry Festival on May 7, 2022, hosted by Bobby Bones at the new Moody Center in Austin, Texas. The ninth edition features top artists including Thomas Rhett, Carrie Underwood, and Zac Brown Band, broadcast live across iHeartMedia’s Country stations. With over 150 country stations, iHeartCountry reaches more than 110 million listeners monthly, making it the largest country radio group in the U.S. Capital One Cardholders can access exclusive pre-sale tickets starting February 1.
iHeartMedia is expanding into web3 and the metaverse, launching new events on Roblox (NYSE: RBLX) and creating tokenized communities. This initiative aims to harness its reach of over 90% of Americans monthly to raise awareness for new platforms. CEO Bob Pittman emphasized the company's unique position to drive demand for emerging technologies, aiming for a new growth layer. iHeart plans to engage 47 million daily Roblox users through immersive musical experiences and a new token that rewards creators and fans with exclusive access and NFTs.
iHeartMedia Los Angeles partners with Children's Hospital Los Angeles for the sixth consecutive year on Giving Tuesday, November 30, raising funds to support pediatric care. Notable sponsors like DaVinci Baby and CBS Studios pledged $125,000 in matching donations. Over the past five years, the event generated more than $1 million. The campaign promotes community involvement through donations and partnerships with local businesses like Porto’s Bakery.
Listeners can donate via kost1035.com/chla or call 1-800-909-CHLA.
iHeartMedia reported Q3 2021 revenue of $928 million, a 25% increase YoY. Digital Audio Group revenue surged 77% to $205.8 million, with podcast revenue up 184%. Operating income rose to $80 million, doubling from $39 million in Q3 2020. Adjusted EBITDA reached $230 million, reflecting a 42% YoY increase. Free cash flow was $45 million. Despite political ad revenue declines, the company expects Q4 revenue growth of 10% YoY. iHeart maintains strong liquidity with $369 million in cash.
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