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 reported Q2 2021 results with revenue of $862 million, a 77% increase YoY, and GAAP operating income of $28 million, reversing a $159 million loss in Q2 2020. Adjusted EBITDA reached $185 million, up from a $(29) million loss last year. Digital Audio Group showed strong growth, with revenue up 112% YoY, led by podcast revenue surging 152%. The company anticipates a 20% revenue increase in Q3 and aims to return to 2019 adjusted EBITDA levels by year-end. Cash balance stood at $583 million as of June 30, 2021.
iHeartMedia, the leading audio company in America, has formed a strategic partnership with French multimedia group NRJ to develop and monetize a selection of iHeartRadio Original podcasts for French listeners. The collaboration will see the first translated podcasts available in the last quarter of 2021, including popular shows like “Stuff You Should Know” and various true-crime podcasts. NRJ will lead monetization efforts in France and distribute select English-language podcasts. This partnership aims to expand podcast offerings while leveraging Triton's technology to enhance revenue streams.
LiveXLive Media (NASDAQ: LIVX) announced its ongoing partnership with iHeartMedia to exclusively stream the 2021 iHeartRadio Fiesta Latina on October 16, 2021, from the Amway Center in Orlando, Florida. This year’s concert features renowned Latin artists like Wisin & Yandel, Prince Royce, and J Balvin. Additionally, Luis Fonsi will receive the iHeartRadio Corazón Latino Award for his contributions to the Latin community. Tickets will be available starting August 5, 2021.
iHeartMedia (IHRT) has partnered with TuneIn to distribute over 850 digital radio stations across TuneIn's platforms. This collaboration will leverage iHeart's extensive advertising resources and Triton Digital's technology for enhanced monetization. iHeartMedia aims to broaden its audience reach by sharing prominent stations like New York’s Z100 and Los Angeles’ KISS FM on TuneIn. The partnership is expected to enable direct and programmatic ad sales, providing advertisers greater targetability and access to a wider listener base.
iHeartMedia, the top global podcast publisher, has partnered with the NBA to launch over 20 new co-produced podcasts. This multi-year collaboration will utilize NBA archives to explore iconic sports moments and provide player insights, debuting this Fall on the iHeartPodcast Network. The partnership aims to expand the NBA's audio offerings, enhancing fan engagement through a variety of platforms. With iHeartMedia's broad reach, both organizations look forward to delivering captivating content to sports enthusiasts.
iHeartMedia has entered a multi-year agreement to co-produce eight original podcasts with Sports Illustrated, enhancing its podcast portfolio. The iHeartPodcast Network will distribute these new titles alongside existing Sports Illustrated podcasts. Notable upcoming projects include 'Sports Illustrated Weekly' and 'Lateral Damage', focusing on in-depth sports journalism and true crime respectively. This partnership aims to leverage Sports Illustrated's strong brand presence, offering credible sports content and storytelling to a broader audience, tapping into over 250 million monthly listeners.
iHeartMedia, Inc. (NASDAQ: IHRT) will release its financial results for the quarter ending June 30, 2021, on August 5, 2021. The announcement will be followed by a conference call at 4:30 p.m. (ET) to discuss the results and future business outlook. Investors can access a live audio webcast on iHeartMedia’s website. An audio replay will be available after the call for thirty days. iHeartMedia is recognized as the leading audio media company in the U.S., reaching over 250 million people monthly.
LiveXLive Media (NASDAQ: LIVX) announces its continued partnership with iHeartMedia for the 2021 iHeartCountry Festival, taking place on October 30, 2021. The festival features major Country artists like Toby Keith and Blake Shelton, hosted by Bobby Bones at the Frank Erwin Center in Austin, Texas. LiveXLive will stream the event globally, marking the third consecutive year of collaboration. With iHeartCountry reaching over 110 million listeners monthly, this event enhances brand visibility. General ticket sales begin on July 30, 2021, after an exclusive pre-sale for Capital One cardholders starting July 27, 2021.
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