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 (Nasdaq: IHRT) has successfully exchanged its Warrants for shares of Class A Common Stock, enhancing its equity structure. As of December 31, 2020, the exchange has resulted in approximately 110 million Class A and 29 million Class B shares, with 7 million Warrants remaining. This move follows a Federal Communications Commission ruling permitting an increase in foreign ownership to 100%. Future conversions of Class B shares and Warrants into Class A stock are anticipated, although some shares remain unconverted due to regulatory restrictions.
iHeartMedia (Nasdaq: IHRT) has appointed Jordan Fasbender as Executive Vice President, General Counsel, and Secretary, effective January 1, 2021. She succeeds Paul McNicol, who will transition to an executive advisory role until his retirement at the end of 2021. Fasbender will oversee legal functions across the company's divisions and platforms, including over 860 live broadcast stations and the iHeart Podcast platform. Fasbender joined iHeartMedia in 2019, bringing significant experience from Twenty-First Century Fox. The leadership believes her expertise will strengthen the company's legal strategy as it continues to grow in the audio industry.
LiveXLive Media (NASDAQ: LIVX) announced an exclusive streaming event for the 2021 iHeartRadio ALTer EGO, taking place on January 28, 2021, at 9 PM ET. This event, part of LiveXLive's multi-year partnership with iHeartMedia (NASDAQ: IHRT), will feature performances by major Alternative Rock artists like Billie Eilish and the Foo Fighters. LiveXLive has gained significant traction in 2020, achieving over 110 million views globally, enhancing its presence in the live-streaming landscape.
iHeartMedia announces the lineup for the fourth annual iHeartRadio ALTer EGO, featuring major Alternative Rock acts such as Billie Eilish and Foo Fighters. The virtual event, accessible for free on January 28, 2021, will highlight new performances and past iconic shows from artists like Beck and twenty one pilots. The event is partnered with Capital One, offering cardholders a chance to engage in a trivia challenge with Weezer. iHeartMedia's reach extends to nine out of ten Americans monthly, emphasizing its position as the number one audio company in the U.S.
iHeartMedia (NASDAQ: IHRT) appointed Gabe Fleet as Executive Vice President of Business Affairs and Chief Music Licensing Counsel, effective January 11, 2021. Fleet will lead the Business Affairs team, focusing on strategic partnerships and music licensing for iHeartMedia’s digital services. With over a decade of experience, he previously worked at Greenberg Traurig, specializing in music licensing and branded entertainment. iHeartMedia, the leading audio company in the U.S., reaches 250 million listeners monthly through various platforms including live stations and podcasts.
iHeartMedia, the leading podcast publisher, has announced the return of the iHeartRadio Podcast Awards on January 21, 2021. This year, the virtual event will feature nominees across 30 categories, recognizing the best podcasts of 2020. Notable nominees for the Podcast of the Year include 'Dolly Parton’s America' and 'Reply All'. Voting for the award will take place on Twitter until December 31, 2020. Additionally, special awards will be presented, including the Social Impact Award to Baratunde Thurston. The event will be streamed online and broadcast via iHeartMedia's radio stations.
iHeartMedia has renewed its five-year partnership with cultural icon Charlamagne Tha God, co-host of the acclaimed radio show "The Breakfast Club." The show, which boasts over 4.5 million weekly listeners, will continue to feature Charlamagne's distinctive interview style. He has also been named Senior Creative Officer at iHeart, responsible for curating new talent and programming. Additionally, Charlamagne will launch Black Privilege Publishing and a new talk show on Comedy Central. The Breakfast Club is recognized for its cultural impact and charity efforts, raising over $1.7 million for various causes.
iHeartMedia, the leading audio company in the U.S., has partnered with European podcast platform Podimo to translate and adapt popular podcasts for global audiences. The partnership will launch with the true crime podcast "Forgotten: Women of Juárez" in Spanish, German, and Danish, introducing these narratives to millions. This strategic collaboration aims to enhance local storytelling and increase podcast monetization. The adapted series will be available in early 2021 in 20 countries across Latin America, Spain, and the U.S., expanding Podimo's reach in Germany and Denmark soon after.
iHeartMedia, Inc. (NASDAQ: IHRT) announced that Bob Pittman, CEO, and Rich Bressler, COO & CFO, will participate in a Q&A session at the UBS Global TMT Virtual Conference on December 9, 2020, at 9:20 a.m. ET. The session will be accessible to the public via a live webcast on iHeartMedia’s Investors homepage, with a replay available afterwards. iHeartMedia is the leading audio company in the U.S., reaching 9 out of 10 Americans monthly and boasting over 850 broadcast stations and the top commercial podcast publisher.
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