Iheartmedia Inc Stock Price, News & Analysis

iHeartMedia (Nasdaq: IHRT) reported Q1 2021 results showing a revenue decline of 9.5% YoY, totaling $707 million. Excluding political revenue, the drop was 7%. However, the results surpassed expectations, driven by a strong Digital Audio Group that saw a 70% revenue increase. The company reported a GAAP operating loss of $76 million, significantly less than last year’s $1.7 billion loss due to impairment charges. iHeart's cash balance stood at $529 million, with an expectation to return to 2019 Adjusted EBITDA levels by year's end.

iHeartMedia (NASDAQ: IHRT) has launched a pioneering Private Marketplace, enhancing programmatic advertising capabilities across its extensive podcast library. The platform, developed through the acquisition of Voxnest, enables advertisers to create customized marketplaces targeting specific audiences by content, geography, and psychographics. It provides access to a diverse array of podcast categories, including the leading shows like “Stuff You Should Know.” This initiative marks a significant advancement in podcast advertising, allowing brands to optimize their campaigns with targeted inventory across iHeartMedia’s expansive reach.

iHeartMedia, Inc. (NASDAQ: IHRT) will announce its financial results for the quarter ending March 31, 2021, on May 6, 2021. A conference call will follow at 4:30 p.m. ET, accessible via the company's Investors homepage or by phone. The call will include a live audio webcast, with replay available later in the evening. iHeartMedia is recognized as the leading audio media company in America, reaching over 250 million people monthly. It excels in broadcast and digital radio, podcasting, and audio advertising technology.

Big Brothers Big Sisters of America (BBBSA) has partnered with iHeartMedia to enhance outreach for youth mentorship on over 850 radio stations. This initiative is part of the Communities Spotlight Media Grant Program, aiming to combat systemic racism and promote social justice. The program will feature public service announcements from current youth, focusing on the urgent need for mentors, particularly Black men. BBBSA's mission aligns with Justice, Equity, Diversity, and Inclusion (JEDI), addressing the current issue of 30,000 youth awaiting mentors.

iHeartMedia has announced an exclusive partnership with the NFL to launch the NFL Podcast Network, enhancing its position as the leading global podcast publisher. This collaboration will distribute existing NFL podcasts and produce two dozen new original shows, focusing on NFL history and fan engagement. Prominent figures from both organizations emphasized the potential to deliver compelling content to a vast audience, with new podcasts expected to debut by summer 2021. This strategic move positions iHeartMedia to reach millions of NFL fans through diverse audio experiences.

The 2021 iHeartRadio Music Awards nominees were announced by iHeartMedia and FOX, set to air live on May 27 from The Dolby Theatre, Los Angeles. Celebrating the most-played artists and songs on iHeartRadio, the show features multiple awards and live performances. Social voting begins April 7, allowing fans to influence categories including Best Fan Army and Best Lyrics. The event returns after a pandemic-related cancellation in 2020, which honored winners through radio broadcasts.

MeatEater, Inc. has partnered with iHeartMedia (NASDAQ:IHRT) to enhance outdoor content production and distribution, marking a first in the outdoor category. With over four million podcast downloads monthly in 2020, MeatEater and iHeartMedia will distribute existing and new podcasts across iHeart's extensive network. This collaboration aims to connect outdoor enthusiasts while launching a new history-focused podcast, Bear Grease. The partnership leverages MeatEater’s brand and iHeartMedia's reach to attract more listeners to outdoor and conservation topics.

The E.W. Scripps Company (NASDAQ: SSP) has finalized the sale of Triton to iHeartMedia (NASDAQ: IHRT) for $230 million, marking a significant move in its portfolio strategy. Scripps acquired Triton in 2018 for $150 million, and the divestment has allowed the company to nearly double its return on investment. The proceeds from this sale will be directed towards debt reduction. This transaction follows the earlier sale of podcast company Stitcher, signaling Scripps' exit from the podcasting and digital audio sectors and a renewed focus on growth in television.

iHeartMedia (Nasdaq:IHRT) announced FCC approval for its acquisition of certain radio stations, conditional on temporary shareholder restrictions for Global Media & Entertainment Investments Ltd (GMEI). GMEI's recent investment of 8.7% in iHeartMedia's Class A Common stock violated FCC foreign ownership rules, which limit foreign ownership to 5% without prior approval. iHeartMedia has filed a petition requesting FCC permission for GMEI to own up to 9.99%. The company emphasizes compliance with FCC regulations while maintaining strong shareholder relationships.