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.
Big Brothers Big Sisters of America (BBBSA) has partnered with iHeartMedia to enhance outreach for youth mentorship on over 850 radio stations. This initiative is part of the Communities Spotlight Media Grant Program, aiming to combat systemic racism and promote social justice. The program will feature public service announcements from current youth, focusing on the urgent need for mentors, particularly Black men. BBBSA's mission aligns with Justice, Equity, Diversity, and Inclusion (JEDI), addressing the current issue of 30,000 youth awaiting mentors.
iHeartMedia has announced an exclusive partnership with the NFL to launch the NFL Podcast Network, enhancing its position as the leading global podcast publisher. This collaboration will distribute existing NFL podcasts and produce two dozen new original shows, focusing on NFL history and fan engagement. Prominent figures from both organizations emphasized the potential to deliver compelling content to a vast audience, with new podcasts expected to debut by summer 2021. This strategic move positions iHeartMedia to reach millions of NFL fans through diverse audio experiences.
The 2021 iHeartRadio Music Awards nominees were announced by iHeartMedia and FOX, set to air live on May 27 from The Dolby Theatre, Los Angeles. Celebrating the most-played artists and songs on iHeartRadio, the show features multiple awards and live performances. Social voting begins April 7, allowing fans to influence categories including Best Fan Army and Best Lyrics. The event returns after a pandemic-related cancellation in 2020, which honored winners through radio broadcasts.
MeatEater, Inc. has partnered with iHeartMedia (NASDAQ:IHRT) to enhance outdoor content production and distribution, marking a first in the outdoor category. With over four million podcast downloads monthly in 2020, MeatEater and iHeartMedia will distribute existing and new podcasts across iHeart's extensive network. This collaboration aims to connect outdoor enthusiasts while launching a new history-focused podcast, Bear Grease. The partnership leverages MeatEater’s brand and iHeartMedia's reach to attract more listeners to outdoor and conservation topics.
The E.W. Scripps Company (NASDAQ: SSP) has finalized the sale of Triton to iHeartMedia (NASDAQ: IHRT) for $230 million, marking a significant move in its portfolio strategy. Scripps acquired Triton in 2018 for $150 million, and the divestment has allowed the company to nearly double its return on investment. The proceeds from this sale will be directed towards debt reduction. This transaction follows the earlier sale of podcast company Stitcher, signaling Scripps' exit from the podcasting and digital audio sectors and a renewed focus on growth in television.
iHeartMedia (Nasdaq:IHRT) announced FCC approval for its acquisition of certain radio stations, conditional on temporary shareholder restrictions for Global Media & Entertainment Investments Ltd (GMEI). GMEI's recent investment of 8.7% in iHeartMedia's Class A Common stock violated FCC foreign ownership rules, which limit foreign ownership to 5% without prior approval. iHeartMedia has filed a petition requesting FCC permission for GMEI to own up to 9.99%. The company emphasizes compliance with FCC regulations while maintaining strong shareholder relationships.
LiveXLive Media, Inc. announces the upcoming iHeartRadio Album Release Party with Justin Bieber on March 25, 2021, at 7 PM local time. This exclusive event celebrates the release of his new album Justice, which dropped on March 19. Hosted by Elvis Duran, the event will feature a live video stream on LiveXLive and broadcasts on iHeartMedia's Pop, Hot AC, and Rhythm stations. Justin Bieber is a global superstar with over 75 billion career streams and 70 million albums sold.
iHeartMedia (NASDAQ: IHRT) has announced that its CEO Bob Pittman and COO Rich Bressler will take part in a Q&A session at Deutsche Bank’s 29th Annual Media, Internet & Telecom Conference on March 10, 2021, at 1:00 p.m. ET. A live webcast will be accessible via the Investors homepage of iHeartMedia's website. iHeartMedia is a leading audio company in the U.S., reaching 90% of Americans monthly. It includes several groups such as the Multiplatform Group, Digital Audio Group, and Audio & Media Services, bolstered by a strong podcasting presence and innovative marketing analytics.
The Seattle Kraken and Climate Pledge Arena have announced a multi-year partnership with iHeartMedia Seattle, starting from the Kraken's inaugural 2021-2022 season. iHeartMedia's Sports Radio 950 KJR will broadcast all Kraken games, along with selected games on 96.5 JACK-FM. This collaboration enhances fan engagement, with live broadcasts and exclusive content from Climate Pledge Arena. The partnership also positions iHeartMedia as a key promotional partner for over 80 annual concerts and events at the arena, emphasizing the combined reach and influence of both brands in the Pacific Northwest.
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