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iHeartMedia Inc. (NASDAQ: IHRT) is a leading diversified media and entertainment company headquartered in the United States, specializing in audio broadcasting and digital media solutions. With an extensive presence across multiple platforms, iHeartMedia operates through three primary business segments: the Multiplatform Group, the Digital Audio Group, and the Audio & Media Services Group, each contributing uniquely to its comprehensive portfolio.
Multiplatform Group
The Multiplatform Group encompasses iHeartMedia's traditional broadcasting operations, which include over 850 owned AM/FM radio stations spanning more than 150 markets. This segment also includes the company's networks, sponsorships, and live events businesses. With a reach of 245 million monthly listeners in the U.S., iHeartMedia boasts the largest audience of any radio or television outlet in the country. Its content is accessible via AM/FM radio, HD digital radio, satellite radio, and online platforms, ensuring a seamless experience for diverse audiences.
Digital Audio Group
The Digital Audio Group represents iHeartMedia's commitment to digital innovation. This segment includes the flagship iHeartRadio platform, a leading all-in-one digital audio service that offers live radio, custom stations, and on-demand content. With over 700 million downloads and rapid user adoption, iHeartRadio is a cornerstone of the company's digital strategy. Additionally, iHeartMedia is a dominant force in podcasting, leveraging its extensive library of original content to engage audiences and drive revenue through advertising and sponsorships.
Audio & Media Services Group
The Audio & Media Services Group includes Katz Media Group, a full-service media representation business, and RCS Sound Software, a provider of advanced scheduling and broadcast software solutions. These services cater to broadcasters and advertisers, enabling them to optimize their operations and maximize reach. This segment underscores iHeartMedia's role as a critical infrastructure provider within the audio and media ecosystem.
Competitive Landscape and Differentiation
iHeartMedia operates in a competitive media landscape alongside traditional broadcasters, digital streaming platforms, and podcasting networks. Its unique ability to integrate traditional radio with digital audio services positions it as a hybrid leader in the industry. By leveraging its unparalleled reach, proprietary technology, and diverse content offerings, iHeartMedia delivers value to advertisers seeking targeted and scalable campaigns.
Technological Innovation and Market Reach
iHeartMedia's technological initiatives extend beyond broadcasting. The company has embraced emerging platforms, making its content available on smartphones, tablets, gaming consoles, and enhanced auto dashboards. This multi-platform approach ensures that iHeartMedia remains accessible to consumers wherever they are. Additionally, its traffic and weather network reaches 196 million monthly consumers, further solidifying its role as a key information provider.
In summary, iHeartMedia Inc. is a multifaceted media powerhouse that bridges traditional and digital audio domains. With its expansive reach, innovative platforms, and diversified revenue streams, the company continues to play a pivotal role in shaping the future of audio entertainment and advertising.
iHeartMedia has announced the twelfth annual iHeartCountry Festival Presented by Capital One, scheduled for May 3, 2025, at the Moody Center in Austin, Texas. The festival will feature performances by country music stars including Brooks & Dunn, Thomas Rhett, Rascal Flatts, Sam Hunt, Megan Moroney, Bailey Zimmerman, and Nate Smith.
The event, hosted by Bobby Bones, will be exclusively livestreamed on Hulu for subscribers at no additional cost and broadcast across iHeartCountry stations nationwide. Capital One cardholders get exclusive presale access from January 21-23, with general public tickets available from January 24. Cardholders can also purchase a Capital One Access Pass for an exclusive pre-event featuring Rascal Flatts.
St. Jude Children's Research Hospital® is the benefiting charity partner for the 2025 festival, with fans able to support through donations at musicgives.org.
iHeartMedia and the National Football League (NFL) have extended their exclusive partnership for the NFL Podcast Network, which was initially launched in 2021. The expanded collaboration will introduce new original podcasts and NFL Club shows annually, with iHeart identifying additional existing podcasts to join the network.
The first new show for 2025, 'Lots To Say with Bobby Bones and Matt Cassel', features iHeart's Bobby Bones and former Pro Bowl NFL quarterback Matt Cassel discussing football, music, and current events. The Nashville-based show will include celebrity guests like Tim McGraw, Parker McCollum, and NFL legends.
The NFL Podcast Network currently hosts several popular shows including 'NFL Daily with Gregg Rosenthal', 'Off the Edge with Cam Jordan', and 'The Season with Peter Schrager'. All shows are distributed by iHeartPodcasts and available on the iHeartRadio app and other podcast platforms.
iHeartMedia, the global leader in podcast publishing, has announced the nominees for The iHeartPodcast Awards, scheduled for March 10, 2025, at ACL Live at The Moody Theater. The event, partnering with SXSW, will honor 2024's most innovative podcast creators across 29 categories.
The ceremony will feature the fan-voted Podcast of the Year award, with nominees including 'Normal Gossip,' 'Three,' and 'Call Her Daddy.' Three Icon Awards will be presented to notable industry contributors: Sarah Spain (Social Impact Award), Dan Taberski (Audible Audio Pioneer Award), and Daniel Alarcón (Innovator Award).
The event will be broadcast on select iHeartMedia radio stations, the iHeartRadio app, and iHeartRadio's YouTube Channel. For the first time, select SXSW badge holders will have access to the ceremony, marking the largest production and venue in the event's history.
iHeartMedia (NASDAQ: IHRT) has successfully completed comprehensive exchange transactions for approximately $4.8 billion (92.2%) of its existing debt. The exchange includes various secured and unsecured notes due 2026-2028 for new secured notes due 2029-2031. Key outcomes include:
- Extension of debt maturities by three years
- Reduction in total debt by over $440 million
- Expected flat consolidated annual net cash interest payments
- Strengthened capital structure with increased flexibility
The exchange saw high participation rates, including 94.4% of 2026 Secured Notes, 99.1% of 2027 Secured Notes, 44.6% of 2028 Secured Notes, 92.1% of Unsecured Notes, and 99.7% of Existing Term Loans.
iHeartMedia has launched its most significant update to the iHeartRadio app since 2011, introducing industry-first features that bridge traditional car radio experience with mobile streaming. The redesigned app includes innovative features like custom presets for up to 15 favorites, a scan button for discovering nationwide stations, a live radio dial, trending content rankers, and lyrics display functionality - making it the only digital radio app offering lyrics for live radio songs.
The update, available to all Android and iOS users by December 17, also incorporates exclusive editorial content from iHeartMedia stations and creates an ultimate artist fan hub with news, interviews, and contests. The redesign was based on extensive user research and feedback, aiming to deliver a seamless and simplified radio listening experience that combines familiar car radio features with modern streaming capabilities.
iHeartMedia, the leading US audio company, has announced its adoption of Unified ID 2.0 (UID2), a privacy-focused identity framework developed by The Trade Desk. The integration aims to enhance audio advertising through improved targeting, measurement, and attribution across iHeartMedia's platforms.
With 860 broadcast and streaming radio stations, the iHeartRadio platform, and its position as the #1 podcast publisher globally, iHeartMedia reaches a quarter of a billion monthly listeners across the US. The UID2 integration will enable advertisers to connect with addressable, privacy-compliant audiences more effectively across iHeartMedia's channels.
This implementation supports the company's goal to make broadcast listening, which represents nearly 70% of all ad-enabled audio consumption, fully programmatic and addressable.
iHeartMedia announced significant participation in its exchange offers and consent solicitations for existing notes and term loans. As of November 29, 2024, the company received:
- 93.8% ($750.6M) of 6.375% Senior Secured Notes due 2026
- 99.1% ($743M) of 5.25% Senior Secured Notes due 2027
- 44.3% ($221.6M) of 4.75% Senior Secured Notes due 2028
- 92.1% ($843.7M) of 8.375% Senior Notes due 2027
- 99.5% ($2.25B) of outstanding term loans
The total participation reached 92.0% ($4.81B) of existing debt. The company modified terms, including extending the expiration time to December 18, 2024, removing the 95% participation requirement, and increasing base consideration by $10 per $1,000 principal amount.
iHeartMedia (NASDAQ: IHRT) has announced exchange offers and consent solicitations for its existing notes and term loans, commencing November 15, 2024. The company has secured support from holders representing approximately 85.4% of the aggregate principal amount of existing debt. The exchange offers include Communications' outstanding secured notes (6.375% due 2026, 5.250% due 2027, 4.750% due 2028) and 8.375% unsecured notes due 2027. Supporting holders have agreed to tender and provide consents, including 84.1% of 2026 notes, 89.5% of 2027 secured notes, 40.9% of 2028 notes, 82.8% of unsecured notes, and 95.3% of existing term loans.
iHeartMedia launches its annual holiday music transformation across more than 85 stations nationwide, offering 24/7 festive music from contemporary artists and Christmas classics. The iHeartRadio Holiday Special, hosted by Mario Lopez, will air on November 27 at 7 p.m. local time, featuring interviews with celebrities like Dan + Shay, Jennifer Hudson, Jimmy Fallon, and Kelly Clarkson discussing their holiday traditions.
Listeners can access holiday content through the iHeartRadio app across 500+ platforms, including specialized stations like 'iHeart Christmas,' 'North Pole Radio,' and genre-specific channels such as iHeartCountry Christmas and iHeart Christmas Rock. The company's holiday programming makes iHeartMedia the leading destination for holiday music through Christmas Day.
iHeartMedia (IHRT) reported Q3 2024 financial results with revenue of $1,008 million, up 5.8%. The company announced debt exchange transactions affecting $4.1 billion of existing debt and cost efficiency programs expected to generate $150 million of net annual savings in 2025. Digital Audio Group revenue grew 13% to $301 million, with Podcast revenue up 11% to $114 million. Multiplatform Group revenue decreased 1% to $620 million. The company expects Q4 consolidated revenue to increase in high-single digits and full-year 2024 Adjusted EBITDA to reach approximately $750 million, up 8%.
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