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.
iHeartMedia reported Q4 2022 revenue of $1,126 million, up 6% year-over-year, exceeding guidance. Excluding political revenue, growth was 1%. GAAP operating income surged 41% to $173 million, with an operating margin of 15.4%. Adjusted EBITDA rose 7% to $316 million. The Digital Audio Group saw a 10% increase in revenue, driven by a 17% rise in podcast sales. However, Q1 2023 revenue is projected to dip mid-single digits. For the full year, revenue reached $3,912 million, a 10% growth, albeit a decline in GAAP operating income due to a significant impairment charge. Cash flows and free cash flow showed strong performance, totaling $420 million and $259 million, respectively.
The 2023 Black Effect Podcast Festival will be hosted by Charlamagne Tha God and Jess Hilarious on April 22 from noon to 8 p.m. ET in location value="LU/us.ga.atlnta"Atlanta, GA. This event aims to uplift Black voices in the podcast industry with live tapings from popular shows like The 85 South Show and WHOREible Decisions. Tickets go on sale March 1 at 12 p.m. EST. The festival will also include panels on podcasting, engaging activities, and sponsorships from major brands, making it a significant event for aspiring podcasters and the Black community.
iHeartMedia has partnered with Jackpocket, the leading app for ordering official state lottery tickets, designating it as the Official Digital Lottery Courier for the Z100 Morning Show. This collaboration will provide listeners with updates on lottery drawings and jackpots, especially when Powerball and Mega Millions exceed $300 million. The partnership includes exclusive promotions and events throughout 2023, enhancing Jackpocket's visibility across iHeartMedia's platforms. Jackpocket has facilitated over $250 million in lottery winnings, making lottery play accessible and secure in fifteen states.
On February 17, the Empire State Building (ESB) and iHeartMedia will host the "iHeartRadio Album Release Party with P!NK" to celebrate her new album, TRUSTFALL. The event includes a special lighting ceremony with P!NK flipping the switch at the Observatory, followed by an exclusive interview and performance on the 80th floor. Fans can win tickets through iHeartRadio stations from February 9 to 16. The lighting show, set to her new single "Never Gonna Not Dance Again," will air on New York's Z100 and 103.5 KTU. ESB has recently undergone a $165 million renovation and is the number one attraction in the U.S., welcoming over 4 million visitors annually.
iHeartMedia, Inc. (NASDAQ: IHRT) will release its financial results for the quarter and year ending December 31, 2022 on February 28, 2023, at 4:30 p.m. (ET). A conference call will follow to discuss the financial results and business outlook. Access is available via live audio webcast on the company's investor homepage and by phone. An audio replay will be available from 7:30 p.m. (ET) on the same day for thirty days. iHeartMedia is the leading audio media company in the U.S., reaching over 250 million people monthly.
iHeartMedia has announced the return of the iHeartCountry Festival on May 13, 2023, marking its tenth year. The festival will be held at Moody Center in Austin, Texas, featuring top country artists like Luke Bryan, Kane Brown, and more. The event will be broadcast across iHeartMedia's country music radio stations.
Capital One cardholders can access exclusive pre-sale tickets starting January 24 for 48 hours. General ticket sales begin on January 27. iHeartMedia's country stations reach over 100 million listeners monthly, affirming their leading position in the industry.
The 2023 iHeartRadio Music Awards will air live from the Dolby Theatre in Los Angeles on March 27, 2023. This year's nominees include notable artists such as Doja Cat, Glass Animals, Taylor Swift, and Harry Styles competing for Song of the Year. The event celebrates the most-played songs and artists on iHeartRadio, featuring live performances and fan voting in various categories. Tickets go on sale on February 15, 2023. iHeartMedia emphasizes its significant reach, making it a prominent player in the audio media industry.
UNest, a fintech firm, has partnered with iHeartMedia to launch a nationwide campaign aimed at educating parents on saving and investing for their children's futures. This initiative leverages iHeartMedia's extensive audio network to reach millions of households. With over 500,000 parents utilizing its app, UNest offers tools for creating tax-advantaged custodial accounts, enabling investments in diverse funds, including ETFs and cryptocurrencies. The partnership responds to the financial awareness gap for the 70% of Americans unaware of saving tools for significant life events.
The Empire State Building (ESB), in partnership with iHeartMedia (IHRT), is launching its annual holiday music-to-light show featuring songs from the Backstreet Boys' new album, "A Very Backstreet Christmas." The light show will premiere on Dec. 19 and continue nightly through Dec. 25, synchronized with a broadcast at 7 p.m. EST on select iHeartRadio stations. The event aims to unite fans worldwide and continues the ESB's tradition of spreading joy during the holiday season.
NYX Professional Makeup has launched its Spring 2023 collection in the metaverse, specifically within iHeartLand on Roblox. This immersive experience allows users to explore the 'House of NYX Professional Makeup' and engage with limited-edition makeup looks inspired by the new collection. Available from December 19, the virtual space will attract Roblox's 58.8 million daily active users. This initiative aims to enhance consumer interaction and celebrate self-expression while strengthening the brand's digital presence through strategic partnerships.