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iHeartMedia Inc. (NASDAQ: IHRT) is a leading diversified media and entertainment company headquartered in the United States, specializing in audio broadcasting and digital media solutions. With an extensive presence across multiple platforms, iHeartMedia operates through three primary business segments: the Multiplatform Group, the Digital Audio Group, and the Audio & Media Services Group, each contributing uniquely to its comprehensive portfolio.
Multiplatform Group
The Multiplatform Group encompasses iHeartMedia's traditional broadcasting operations, which include over 850 owned AM/FM radio stations spanning more than 150 markets. This segment also includes the company's networks, sponsorships, and live events businesses. With a reach of 245 million monthly listeners in the U.S., iHeartMedia boasts the largest audience of any radio or television outlet in the country. Its content is accessible via AM/FM radio, HD digital radio, satellite radio, and online platforms, ensuring a seamless experience for diverse audiences.
Digital Audio Group
The Digital Audio Group represents iHeartMedia's commitment to digital innovation. This segment includes the flagship iHeartRadio platform, a leading all-in-one digital audio service that offers live radio, custom stations, and on-demand content. With over 700 million downloads and rapid user adoption, iHeartRadio is a cornerstone of the company's digital strategy. Additionally, iHeartMedia is a dominant force in podcasting, leveraging its extensive library of original content to engage audiences and drive revenue through advertising and sponsorships.
Audio & Media Services Group
The Audio & Media Services Group includes Katz Media Group, a full-service media representation business, and RCS Sound Software, a provider of advanced scheduling and broadcast software solutions. These services cater to broadcasters and advertisers, enabling them to optimize their operations and maximize reach. This segment underscores iHeartMedia's role as a critical infrastructure provider within the audio and media ecosystem.
Competitive Landscape and Differentiation
iHeartMedia operates in a competitive media landscape alongside traditional broadcasters, digital streaming platforms, and podcasting networks. Its unique ability to integrate traditional radio with digital audio services positions it as a hybrid leader in the industry. By leveraging its unparalleled reach, proprietary technology, and diverse content offerings, iHeartMedia delivers value to advertisers seeking targeted and scalable campaigns.
Technological Innovation and Market Reach
iHeartMedia's technological initiatives extend beyond broadcasting. The company has embraced emerging platforms, making its content available on smartphones, tablets, gaming consoles, and enhanced auto dashboards. This multi-platform approach ensures that iHeartMedia remains accessible to consumers wherever they are. Additionally, its traffic and weather network reaches 196 million monthly consumers, further solidifying its role as a key information provider.
In summary, iHeartMedia Inc. is a multifaceted media powerhouse that bridges traditional and digital audio domains. With its expansive reach, innovative platforms, and diversified revenue streams, the company continues to play a pivotal role in shaping the future of audio entertainment and advertising.
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.
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.
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