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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 announced 'Coldplay's Moon Music Album Experience: A Gamified Tycoon Adventure,' launching October 24 in State Farm Park in iHeartLand in Fortnite. This first-ever concert tycoon experience combines gaming with music, featuring content from Coldplay's new album Moon Music. Players progress through three phases, building a rocket, lunar base, and concert stage while listening to the album and exclusive band commentary. The experience takes place in State Farm Park, which has hosted over 50 music and podcast events since 2022 and has been rebuilt in Unreal Editor for Fortnite for enhanced visual quality.
iHeartMedia has announced the lineup for the eighth annual 'iHeartRadio ALTer EGO Presented by Capital One' event, set to take place on January 11, 2025 at the Kia Forum in Los Angeles. The star-studded roster includes Cage The Elephant, Fontaines D.C., Glass Animals, Incubus, St. Vincent, The Head And The Heart, The Lumineers, The Offspring, and a special performance by Damiano David.
The event will be hosted by Woody of iHeartRadio ALT 98.7's nationally syndicated 'The Woody Show' and will broadcast live on iHeartRadio Alternative and Rock stations nationwide. Capital One returns as the national presenting partner, offering cardholders early access to tickets and exclusive perks. The general public ticket sale begins on October 25, 2024, at 12 p.m. PT via Ticketmaster.com.
iHeartMedia, America's #1 audio company by reach, and Whalar Group, a leading global Creator Company, have announced a partnership to expand opportunities for creators and marketers across iHeart's broadcast, podcast, digital, live events, and social platforms. The collaboration aims to:
1. Provide advertisers innovative ways to pair content creators with brands
2. Deliver scale by leveraging iHeart's multiple platforms and trusted talent
3. Identify and support creators looking to expand beyond social media
4. Allow iHeart's influencers to utilize Whalar Group's creative services and technology
iHeart reaches 9 out of 10 Americans monthly through broadcast radio and is the #1 podcast publisher in America. This partnership is expected to benefit both creators and advertisers by maximizing trusted relationships and connections with audio and social followers.
iHeartMedia announces its annual iHeartRadio Jingle Ball Tour Presented by Capital One for 2024, featuring top artists like Katy Perry, SZA, Tate McRae, Jack Harlow, and more. The tour will visit major cities across the U.S., including New York, Los Angeles, Miami, Chicago, and Dallas/Fort Worth. ABC will exclusively air the iHeartRadio Jingle Ball 2024 holiday special on December 18, with next-day availability on Hulu.
Capital One cardholders will have early access to tickets and exclusive experiences through a special pre-sale. The tour will also partner with the Ryan Seacrest Foundation in nine cities and the Kidd's Kids program in Dallas, allocating a portion of ticket sales to these charitable organizations.
iHeartMedia and Pushkin Industries released a study revealing that 44% of Americans feel ignored by advertisers. The research, conducted by Morning Consult, Advertiser Perceptions, and Critical Mass Media, highlights a disconnect between marketers' perceptions and consumers' realities. Key findings include:
1. 72% of consumers don't want to buy from brands ignoring them, while 75% would pay more for brands sharing their values.
2. Consumers are increasingly uncomfortable with hyper-targeting, with 67% disliking targeted ads.
3. Consumers prioritize religion and law and order twice as much as marketers do.
4. Consumers define luxury differently, focusing on practical indulgences rather than designer labels.
The study aims to help marketers better understand and serve key audience segments, emphasizing the importance of aligning marketing strategies with consumers' real values and priorities.
Airtasker (ASX: ART), a global marketplace for local services, has announced strategic media partnerships with iHeartMedia and TelevisaUnivision to accelerate its U.S. expansion. These partnerships, valued at $9.75 million, aim to boost brand recognition and growth across the country. TelevisaUnivision will receive a minority equity stake in Airtasker USA, while iHeartMedia will leverage its extensive audio advertising network.
The collaborations build on Airtasker's successful international growth strategy, replicating its Australian success where a similar partnership led to over 60% brand awareness and 20x revenue growth. These partnerships will enable Airtasker to reach diverse audiences, including the influential Hispanic demographic, through various media channels including radio, digital platforms, and podcasts.
iHeartMedia announces the return of the House of Music at the 2024 iHeartRadio Music Festival, a mixed-reality immersive experience inspired by main stage artists. The free event, open to the public on September 20 and 21 from 4 p.m. to 1 a.m. at Toshiba Plaza outside T-Mobile Arena, features over 12 interactive rooms showcasing artists like Camila Cabello, Doja Cat, and Gwen Stefani.
Guests can explore artist-inspired spaces, engage with brand experiences, and earn digital points for prizes. The festival itself, hosted by Ryan Seacrest, will feature performances by A$AP Rocky, Dua Lipa, The Weeknd, and more. Tickets are available on AXS.com, and the event will be broadcast live on iHeartMedia radio stations and streamed exclusively on Hulu.
e.l.f. Beauty (NYSE: ELF) has announced a multi-year global partnership with the Billie Jean King Cup (BJKC), the women's world cup of tennis. As the exclusive skin and cosmetic partner, e.l.f. aims to promote equality and inclusivity in women's sports. The company will co-host the inaugural Power of Women's Sports Summit on November 20, 2024, in Málaga, Spain, alongside the BJKC finals.
Additionally, e.l.f. has become a founding partner of iHeartMedia's Women's Sports Audio Network, the first audio platform dedicated to women's sports. This partnership includes hosting a live recording of 'The Rennae Stubbs Tennis Podcast' at the summit. These initiatives align with e.l.f.'s commitment to empowering women in sports and addressing the disparity in media coverage of women's sports.
iHeartPodcasts, Universal Television, and Wolf Entertainment have partnered to create 'Law & Order: Criminal Justice System', a new investigative true crime podcast. This four-season deal marks the first venture into investigative journalism for the 'Law & Order' brand. The podcast will premiere on August 22, 2024, with each season consisting of 12 episodes.
Hosted by former Brooklyn homicide prosecutor Anna-Sigga Nicolazzi, the first season will explore the downfall of the American Mafia in New York City. It begins with the 1979 assassination of Carmine Galante, a Bonanno crime family boss, and chronicles how local police and prosecutors dismantled the Mafia's control over the city.
Executive Producer Elliot Wolf, co-creator of Amazon Prime's 'On Call' and EVP of Digital for Wolf Entertainment, will lead the project. The podcast aims to blend the dramatic storytelling of the 'Law & Order' franchise with real-life criminal justice narratives.
iHeartMedia reported Q2 2024 financial results with consolidated revenue up 1.0% to $929 million. The Digital Audio Group saw strong growth, with revenue up 10% to $286 million, including an 8% increase in podcast revenue to $105 million. However, the Multiplatform Group revenue declined 3% to $576 million. The company reported a GAAP operating loss of $910 million, including non-cash impairment charges of $920 million. Adjusted EBITDA was $150 million, down from $191 million in Q2 2023. iHeartMedia expects full-year 2024 revenue to increase in the mid-single digits and Adjusted EBITDA to be between $760-$800 million. The company remains committed to its long-term target of approximately 4x Net Debt to Adjusted EBITDA.
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