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 and Real Times Media have formed a strategic partnership to enhance local news distribution for the Black community. Starting in January 2022, this collaboration will enable BIN to source news stories from RTM and vice versa. The Black Information Network (BIN), operational since June 2020, focuses on delivering content with a Black voice across 32 affiliate markets. This partnership is set to bolster local journalism and provide vital news coverage to Black audiences nationwide.
iHeartMedia has signed a new three-year contract with radio personality Ryan Seacrest, extending his role until December 31, 2025. This contract marks the celebration of Seacrest's 30 years in the media industry, during which he has become a key figure at iHeartMedia. Seacrest will continue hosting his popular shows, including On Air with Ryan Seacrest and American Top 40, and participate in major company events. iHeartMedia emphasizes Seacrest's impact on audiences and his business acumen.
New research by WARC and iHeartMedia reveals a striking discrepancy in audio media investment. While consumers dedicate 31% of their media time to audio, brands are only investing 8.8% of their media budgets in this area, with 25% of brands not investing at all. The study forecasts that US audio advertising spend will reach $13.9bn this year, a 10.9% recovery from 2020. Key findings indicate that audio, including radio and podcasts, is growing rapidly and offers significant opportunities for advertisers to enhance brand awareness and sales.
iHeartMedia (Nasdaq: IHRT) announced participation in the Goldman Sachs 30th Annual Communacopia Conference on September 22, 2021, at 2:05 p.m. ET. The session will feature Bob Pittman, Chairman and CEO, and Rich Bressler, President and CFO, in a question and answer format.
A live webcast will be accessible to the public via iHeartMedia’s Investors homepage, with a replay available post-event.
iHeartMedia (Nasdaq: IHRT) will participate in the BofA Securities 2021 Media, Communications and Entertainment Conference on Monday, September 13, 2021, at 2:20 p.m. ET. CEO Bob Pittman and COO/CFO Rich Bressler will engage in a Q&A session, which can be accessed via a live webcast on the iHeartMedia Investors homepage. The session will also be available for replay afterwards. iHeartMedia is a leading audio media company in the U.S., reaching over 250 million people monthly, and excels in broadcasting, digital streaming, and podcasting.
Heart of America, Anthem Blue Cross and Blue Shield, and iHeartMedia have partnered to combat food insecurity in the College Park community of Atlanta. They will transform a classroom at College Park Elementary School into a food pantry, increasing access to nutritious meals for students and families. With 1 in 5 children in Atlanta facing food insecurity, this initiative aims to provide sustainable food resources. The project will be completed this Fall and includes support from the Atlanta Community Food Bank, benefiting the school and its community significantly.
Anthem Inc. has partnered with iHeartMedia and Heart of America to address food insecurity in schools across Los Angeles, New York, Atlanta, and Indianapolis. This initiative aims to support high-need schools by creating solutions like learning gardens and food pantries, providing essential resources for nutritious meals. The collaboration seeks to raise awareness of hunger challenges faced by children, with Anthem's Dr. Shantanu Agrawal emphasizing the importance of access to healthy food for student well-being. The program targets nearly 1,000 families, transforming educational spaces to enhance food access.
iHeartMedia, the leading podcast publisher, partners with Red Table Talk to establish the Red Table Talk Audio Network. This collaboration will feature co-produced podcasts, including two existing series hosted by Jada Pinkett Smith and others. Over the next two years, five new series will launch, starting with a podcast spinoff hosted by Gloria Estefan on August 25. Red Table Talk, with a significant social media following, is produced by Westbrook Studios, which aims to create impactful content.
NEOU, a live streaming and on-demand fitness marketplace, has partnered with iHeartMedia, the leading audio company in the U.S., to enhance brand awareness and introduce its fitness content to a wider audience. The collaboration will utilize iHeartMedia's extensive audio network, reaching 90% of Americans monthly and promoting NEOU's affordable, diverse fitness offerings. NEOU aims to democratize access to high-quality workouts and has raised over $40 million to date. This partnership is expected to expand NEOU's reach significantly.
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