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 KIIS FM will celebrate Pop music's history with the virtual event, “iHeartRadio KIIS FM Wango Tango,” hosted by Ryan Seacrest on June 30 at 7 p.m. PT/10 p.m. ET. The event features new performances by Ed Sheeran and Justin Bieber and iconic past performances from stars like Ariana Grande and Taylor Swift. LiveXLive Media will exclusively stream the event nationwide. Wango Tango, since 2003, remains a significant summer celebration in Southern California and is a key part of iHeartRadio’s concert lineup.
iHeartMedia (IHRT) has entered an exclusive multiyear agreement with Bloomberg Media to co-produce and distribute over a dozen new original podcasts, building on Bloomberg’s existing portfolio of 20 podcasts. This partnership aims to combine Bloomberg's editorial expertise with iHeartMedia's extensive audience reach, enhancing the distribution of business-related content. The agreement follows a 26% increase in podcast downloads for Bloomberg in 2020, showcasing the growing demand for high-quality audio content. The new podcasts will address broad business topics and launch later this year.
iHeartMedia has announced the launch of a new podcast venture, My Cultura, aimed at amplifying Latinx voices and stories. Collaborating with top-rated personality Enrique Santos, the initiative will debut six shows this summer and expand to 30 in its first year, covering diverse genres such as pop culture, finance, and mental health. The network is backed by sponsors like State Farm and will feature well-known creators like Eva Longoria. iHeartMedia's commitment to representing the Latinx community is highlighted, emphasizing its market leadership in audio content.
Catalina has partnered with iHeartMedia to enhance podcast advertising effectiveness by measuring its impact on offline sales for CPG brands. This collaboration aims to provide insights into marketing investments, improving attribution of podcast ads to in-store sales. Brian Dunphy from Catalina highlighted that over 115 million people in the U.S. are expected to listen to podcasts this year, with advertising in this sector projected to double in the next five years. The partnership also extends to audience measurements within iHeartMedia's SmartAudio platform.
iHeartMedia has partnered with the National Women’s Soccer League (NWSL) to launch a dedicated NWSL Radio station on iHeartRadio for the 2021 season. This initiative will provide free live audio streams of two major league games weekly, with replays available throughout the week. This exclusive agreement represents the NWSL's first live audio partnership. The station will debut on May 15, featuring the NJ/NY Gotham FC vs. Houston Dash match. iHeartMedia aims to enhance the visibility of women's professional sports through this partnership.
iHeartMedia and FOX announced Usher as the host and performer for the 2021 iHeartRadio Music Awards on May 27, airing live from The Dolby Theatre in Los Angeles. The event features performances from major artists like The Weeknd, Ariana Grande, and Bruno Mars. Elton John will receive the iHeartRadio Icon Award with a special tribute. The awards celebrate the most-played artists of 2020 and allow fans to vote for various categories. Social voting runs until May 19. The show highlights the importance of fan engagement in the music industry.
iHeartMedia (Nasdaq: IHRT) reported Q1 2021 results showing a revenue decline of 9.5% YoY, totaling $707 million. Excluding political revenue, the drop was 7%. However, the results surpassed expectations, driven by a strong Digital Audio Group that saw a 70% revenue increase. The company reported a GAAP operating loss of $76 million, significantly less than last year’s $1.7 billion loss due to impairment charges. iHeart's cash balance stood at $529 million, with an expectation to return to 2019 Adjusted EBITDA levels by year's end.
iHeartMedia (NASDAQ: IHRT) has launched a pioneering Private Marketplace, enhancing programmatic advertising capabilities across its extensive podcast library. The platform, developed through the acquisition of Voxnest, enables advertisers to create customized marketplaces targeting specific audiences by content, geography, and psychographics. It provides access to a diverse array of podcast categories, including the leading shows like “Stuff You Should Know.” This initiative marks a significant advancement in podcast advertising, allowing brands to optimize their campaigns with targeted inventory across iHeartMedia’s expansive reach.
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