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.
Tracker Ventures Corp. announced a partnership with iHeartMedia to produce the 'Contakt World' podcast aimed at increasing awareness of public health solutions like contact tracing. This collaboration will leverage iHeartMedia's vast reach, potentially enhancing the adoption of Contakt World's services. The podcast features discussions on health topics and will be available on iHeartRadio and other platforms starting next month. Additionally, Tracker is in the process of acquiring a 100% interest in Contakt World, with shares currently halted on the Canadian Securities Exchange pending regulatory approval.
iHeartMedia, Inc. (NASDAQ: IHRT) announced that Chairman and CEO Bob Pittman and President Rich Bressler will participate in a Q&A session at the 2020 Wells Fargo TMT Summit on December 1, 2020, at 11:20 a.m. ET. The session will be webcast live and accessible to the public via iHeartMedia’s Investors website, where a replay will also be available afterward. iHeartMedia is the leading audio company in the U.S., reaching 90% of Americans monthly and boasting over 850 broadcast stations and a dominant digital presence.
Pepsi, in partnership with iHeartMedia, has launched the "iHeartRadio Presents The Pepsi HBCU Marching Band Experience," a virtual showcase featuring bands from Florida A&M, Hampton University, Prairie View A&M, and North Carolina A&T. This initiative celebrates HBCU homecoming traditions during the pandemic, showcasing a unique performance of Curtis Mayfield's "Move on Up" and Megan Thee Stallion's "Savage." The event supports HBCU pride and includes commitments for music program resources like scholarships and equipment.
Empire State Realty Trust (NYSE: ESRT) and iHeartMedia announce the Empire State Building's annual holiday music-to-light show featuring Carrie Underwood's new song 'Hallelujah' with John Legend. Scheduled for December 19 to December 25, the show will sync live at 8:00 p.m. with broadcasts on iHeartRadio's Z100 and LiteFM. The event highlights Underwood's debut holiday album, 'My Gift,' released on September 25, with an emphasis on bringing festive joy to viewers worldwide through YouTube and Earthcam.
iHeartMedia (Nasdaq: IHRT) reported Q3 2020 revenues of $744 million, down 22% YoY but up 53% QoQ, indicating signs of recovery post-COVID-19. Digital revenues increased 17% YoY, with a significant 74% growth in podcasting. Political advertising contributed positively, with October seeing a 2% YoY revenue increase. The company received FCC approval for foreign ownership, simplifying capital structure, and completed acquisition of Voxnest. Operating income was $39 million, with a GAAP loss of $1.85 billion year-to-date, largely due to non-cash impairment charges.
iHeartMedia, the leading podcast publisher globally, has entered into a partnership with Pushkin Industries to co-produce and distribute a wide range of premium podcasts. This agreement makes iHeartMedia Pushkin's exclusive sales partner and will result in co-producing new original shows over the next two years. Notable titles include 'Revisionist History' and 'The Happiness Lab.' Additionally, two new shows, 'Double Date' and 'Lost Hills,' are set for release in March 2021, expanding the iHeartPodcast Network's offerings, which aims to reach a larger audience.
iHeartMedia, Inc. (Nasdaq: IHRT) announced that the Federal Communications Commission (FCC) approved an increase in its authorized foreign ownership from 25% to 100%. This decision, which comes with certain conditions, allows foreign investment up to 100%, enhancing flexibility for share purchases. Holders of iHeartMedia warrants can exchange them for Class A or Class B shares of common stock. iHeartMedia continues to hold its position as the leading audio company in the U.S., boasting a monthly reach of nine out of ten Americans.
iHeartMedia is hosting the 2020 iHeartRadio Jingle Ball as a virtual event on December 10, showcasing performances from top artists like Billie Eilish, Doja Cat, and Dua Lipa. Fans will experience artists' holiday traditions and performances amid pandemic restrictions. The event airs across more than 95 iHeartMedia radio stations and is available for streaming on The CW App. Additionally, a special celebrating 25 years of Jingle Ball will premiere on December 3. Capital One continues as the national presenting partner, offering exclusive contests for cardholders.
iHeartMedia (NASDAQ:IHRT) has announced its upcoming "HBCU Homecoming Celebration on iHeartRadio," promoting Black excellence and achievement across various platforms. The lineup includes an artist panel focused on female empowerment, a tailgate party with celebrity guests, and a virtual concert featuring Khalid. Key events will stream on YouTube and iHeartMedia's Hip Hop and R&B stations on November 12, 2023. This initiative aims to uplift HBCU students and alumni affected by the pandemic, showcasing notable talents and a dedicated 24-hour HBCU station.
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