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. reports developments across its U.S. audio media business, including broadcast radio, podcasting, digital audio advertising, live events and audio technology. The company operates through the Multiplatform Group, Digital Audio Group, and Audio & Media Services Group, with recurring updates tied to advertising products, audience research, partnerships, music events and financial results.
Company news commonly covers iHeartRadio programming and awards shows, podcast and digital audio monetization, broadcast-radio attribution tools, consumer and advertiser studies, and quarterly earnings releases that discuss segment revenue, Adjusted EBITDA, liquidity and business outlook.
Can't Cancel Pride, now in its fifth year, will air on June 12 at 8 p.m. ET / 5 p.m. PT. The event includes performances by Billy Porter, Allison Russell, Ben Platt, Meghan Trainor, and others. Hosted by Billy Porter, who will also receive the Elton John Impact Award, the event aims to raise funds and visibility for LGBTQ+ organizations like GLAAD and The Trevor Project. The benefit has raised over $14 million since its inception and reached 23 million viewers in 2023 alone. Streaming platforms include iHeartRadio’s YouTube and Facebook pages, Hulu, Revry, and The Advocate Channel.
iHeartMedia awarded Every Mother Counts with its Spotlight Media Grant to raise awareness about the maternal health crisis in the United States. The campaign aims to address the rising maternal mortality rate, particularly among Black women, through a series of PSAs airing on 840 iHeart radio stations and digital campaigns. The partnership underscores the importance of safe and equitable pregnancy and childbirth for all.
iHeartMedia, Inc. reported Q1 2024 revenue of $799 million, down 1.5%. Adjusted EBITDA was $105 million, within guidance. Digital Audio Group revenue rose 7%, Podcast revenue up 18%. Multiplatform Group revenue down 7%. Cash balance of $361 million with $788 million liquidity. Q2 revenue expected flat, Adjusted EBITDA $140-160 million. Positive EBITDA growth, confident in 2024 recovery.
NBCUniversal has chosen iHeartMedia as its exclusive audio partner for the Olympic Games Paris 2024. iHeartRadio will provide 24/7 play-by-play audio channels of select NBCU linear coverage, create an original Olympic iHeartPodcast, produce Olympic-specific episodes from top podcasts, and promote tune-in for NBCU’s coverage. The partnership aims to engage Olympic fans through various audio platforms and podcasts.
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