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, America's #1 audio company by reach, and Whalar Group, a leading global Creator Company, have announced a partnership to expand opportunities for creators and marketers across iHeart's broadcast, podcast, digital, live events, and social platforms. The collaboration aims to:
1. Provide advertisers innovative ways to pair content creators with brands
2. Deliver scale by leveraging iHeart's multiple platforms and trusted talent
3. Identify and support creators looking to expand beyond social media
4. Allow iHeart's influencers to utilize Whalar Group's creative services and technology
iHeart reaches 9 out of 10 Americans monthly through broadcast radio and is the #1 podcast publisher in America. This partnership is expected to benefit both creators and advertisers by maximizing trusted relationships and connections with audio and social followers.
iHeartMedia announces its annual iHeartRadio Jingle Ball Tour Presented by Capital One for 2024, featuring top artists like Katy Perry, SZA, Tate McRae, Jack Harlow, and more. The tour will visit major cities across the U.S., including New York, Los Angeles, Miami, Chicago, and Dallas/Fort Worth. ABC will exclusively air the iHeartRadio Jingle Ball 2024 holiday special on December 18, with next-day availability on Hulu.
Capital One cardholders will have early access to tickets and exclusive experiences through a special pre-sale. The tour will also partner with the Ryan Seacrest Foundation in nine cities and the Kidd's Kids program in Dallas, allocating a portion of ticket sales to these charitable organizations.
iHeartMedia and Pushkin Industries released a study revealing that 44% of Americans feel ignored by advertisers. The research, conducted by Morning Consult, Advertiser Perceptions, and Critical Mass Media, highlights a disconnect between marketers' perceptions and consumers' realities. Key findings include:
1. 72% of consumers don't want to buy from brands ignoring them, while 75% would pay more for brands sharing their values.
2. Consumers are increasingly uncomfortable with hyper-targeting, with 67% disliking targeted ads.
3. Consumers prioritize religion and law and order twice as much as marketers do.
4. Consumers define luxury differently, focusing on practical indulgences rather than designer labels.
The study aims to help marketers better understand and serve key audience segments, emphasizing the importance of aligning marketing strategies with consumers' real values and priorities.
Airtasker (ASX: ART), a global marketplace for local services, has announced strategic media partnerships with iHeartMedia and TelevisaUnivision to accelerate its U.S. expansion. These partnerships, valued at $9.75 million, aim to boost brand recognition and growth across the country. TelevisaUnivision will receive a minority equity stake in Airtasker USA, while iHeartMedia will leverage its extensive audio advertising network.
The collaborations build on Airtasker's successful international growth strategy, replicating its Australian success where a similar partnership led to over 60% brand awareness and 20x revenue growth. These partnerships will enable Airtasker to reach diverse audiences, including the influential Hispanic demographic, through various media channels including radio, digital platforms, and podcasts.
iHeartMedia announces the return of the House of Music at the 2024 iHeartRadio Music Festival, a mixed-reality immersive experience inspired by main stage artists. The free event, open to the public on September 20 and 21 from 4 p.m. to 1 a.m. at Toshiba Plaza outside T-Mobile Arena, features over 12 interactive rooms showcasing artists like Camila Cabello, Doja Cat, and Gwen Stefani.
Guests can explore artist-inspired spaces, engage with brand experiences, and earn digital points for prizes. The festival itself, hosted by Ryan Seacrest, will feature performances by A$AP Rocky, Dua Lipa, The Weeknd, and more. Tickets are available on AXS.com, and the event will be broadcast live on iHeartMedia radio stations and streamed exclusively on Hulu.
e.l.f. Beauty (NYSE: ELF) has announced a multi-year global partnership with the Billie Jean King Cup (BJKC), the women's world cup of tennis. As the exclusive skin and cosmetic partner, e.l.f. aims to promote equality and inclusivity in women's sports. The company will co-host the inaugural Power of Women's Sports Summit on November 20, 2024, in Málaga, Spain, alongside the BJKC finals.
Additionally, e.l.f. has become a founding partner of iHeartMedia's Women's Sports Audio Network, the first audio platform dedicated to women's sports. This partnership includes hosting a live recording of 'The Rennae Stubbs Tennis Podcast' at the summit. These initiatives align with e.l.f.'s commitment to empowering women in sports and addressing the disparity in media coverage of women's sports.
iHeartPodcasts, Universal Television, and Wolf Entertainment have partnered to create 'Law & Order: Criminal Justice System', a new investigative true crime podcast. This four-season deal marks the first venture into investigative journalism for the 'Law & Order' brand. The podcast will premiere on August 22, 2024, with each season consisting of 12 episodes.
Hosted by former Brooklyn homicide prosecutor Anna-Sigga Nicolazzi, the first season will explore the downfall of the American Mafia in New York City. It begins with the 1979 assassination of Carmine Galante, a Bonanno crime family boss, and chronicles how local police and prosecutors dismantled the Mafia's control over the city.
Executive Producer Elliot Wolf, co-creator of Amazon Prime's 'On Call' and EVP of Digital for Wolf Entertainment, will lead the project. The podcast aims to blend the dramatic storytelling of the 'Law & Order' franchise with real-life criminal justice narratives.
iHeartMedia reported Q2 2024 financial results with consolidated revenue up 1.0% to $929 million. The Digital Audio Group saw strong growth, with revenue up 10% to $286 million, including an 8% increase in podcast revenue to $105 million. However, the Multiplatform Group revenue declined 3% to $576 million. The company reported a GAAP operating loss of $910 million, including non-cash impairment charges of $920 million. Adjusted EBITDA was $150 million, down from $191 million in Q2 2023. iHeartMedia expects full-year 2024 revenue to increase in the mid-single digits and Adjusted EBITDA to be between $760-$800 million. The company remains committed to its long-term target of approximately 4x Net Debt to Adjusted EBITDA.
iHeartMedia, Inc. (NASDAQ: IHRT) has announced its plans to release financial results for the quarter ending June 30, 2024, on Thursday, August 8th, 2024. The company will host a conference call at 8:30 a.m. ET to discuss its financial performance and business outlook. Investors can access a live audio webcast of the call on iHeartMedia's Investors homepage or dial in using the provided numbers. An audio replay will be available for 30 days following the call. This announcement provides shareholders and analysts with a scheduled opportunity to review and discuss iHeartMedia's quarterly performance, potentially impacting the stock's valuation and investor sentiment.
iHeartMedia announced the return of the 2024 iHeartRadio Fiesta Latina on October 26 at Kaseya Center in Miami, Florida. The event, presented by Nissan, will feature performances by Feid, Sebastián Yatra, Wisin, Chencho Corleone, Manuel Turizo, Maria Becerra, and more. Enrique Santos will host the eleventh annual celebration of Latin music.
Feid will receive the iHeartRadio Corazón Latino Award for his impact as a singer, songwriter, and producer. Tickets go on sale on July 23 via Ticketmaster.com. The event will be broadcast live on iHeartMedia's Spanish-language radio stations and the iHeartRadio app. Partners include Nissan, Goya Foods, M&M'S®, and State Farm®.
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