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.
News about iHeartMedia, Inc. (IHRT) reflects its role as a large audio media company active across broadcast radio, digital audio, podcasts and live events. Company announcements frequently highlight programming, partnerships and events that involve both its radio networks and its broader audio platforms.
Recent press releases describe the iHeartPodcast Awards, which honor podcasters across multiple categories and are presented in partnership with South by Southwest (SXSW). The event is staged at ACL Live at the Moody Theater in Austin, Texas and is broadcast on select iHeartMedia radio stations and through the iHeartRadio app. iHeartMedia also reports on its iHeartCountry Festival, a live country music event in Austin that is presented with brand partners and carried across iHeartCountry stations and digital channels.
iHeartMedia news also covers the iHeartRadio Music Awards, an annual show produced with FOX Entertainment that recognizes the most‑played artists and songs on iHeartRadio stations and the iHeartRadio app. These announcements include details on nominees, fan‑voted categories and broadcast plans from venues such as the Dolby Theatre in Los Angeles.
Beyond events, the company issues news about partnerships and platform developments. Examples include an expanded relationship with Amazon Ads to make iHeart’s streaming audio inventory available through Amazon DSP, a multiplatform collaboration with TikTok to launch the TikTok Podcast Network and TikTok Radio, and an exclusive video podcast partnership with Netflix for selected iHeartPodcasts. Additional releases highlight creator‑focused initiatives, such as a new video podcast distribution capability within iHeartRadio and new podcast launches with high‑profile hosts.
Investors and followers of IHRT can use this news feed to review company communications on awards shows, festivals, creator partnerships, advertising relationships and financial results, all of which provide insight into how iHeartMedia presents its activities and priorities.
New research by WARC and iHeartMedia reveals a striking discrepancy in audio media investment. While consumers dedicate 31% of their media time to audio, brands are only investing 8.8% of their media budgets in this area, with 25% of brands not investing at all. The study forecasts that US audio advertising spend will reach $13.9bn this year, a 10.9% recovery from 2020. Key findings indicate that audio, including radio and podcasts, is growing rapidly and offers significant opportunities for advertisers to enhance brand awareness and sales.
iHeartMedia (Nasdaq: IHRT) announced participation in the Goldman Sachs 30th Annual Communacopia Conference on September 22, 2021, at 2:05 p.m. ET. The session will feature Bob Pittman, Chairman and CEO, and Rich Bressler, President and CFO, in a question and answer format.
A live webcast will be accessible to the public via iHeartMedia’s Investors homepage, with a replay available post-event.
iHeartMedia (Nasdaq: IHRT) will participate in the BofA Securities 2021 Media, Communications and Entertainment Conference on Monday, September 13, 2021, at 2:20 p.m. ET. CEO Bob Pittman and COO/CFO Rich Bressler will engage in a Q&A session, which can be accessed via a live webcast on the iHeartMedia Investors homepage. The session will also be available for replay afterwards. iHeartMedia is a leading audio media company in the U.S., reaching over 250 million people monthly, and excels in broadcasting, digital streaming, and podcasting.
Heart of America, Anthem Blue Cross and Blue Shield, and iHeartMedia have partnered to combat food insecurity in the College Park community of Atlanta. They will transform a classroom at College Park Elementary School into a food pantry, increasing access to nutritious meals for students and families. With 1 in 5 children in Atlanta facing food insecurity, this initiative aims to provide sustainable food resources. The project will be completed this Fall and includes support from the Atlanta Community Food Bank, benefiting the school and its community significantly.
Anthem Inc. has partnered with iHeartMedia and Heart of America to address food insecurity in schools across Los Angeles, New York, Atlanta, and Indianapolis. This initiative aims to support high-need schools by creating solutions like learning gardens and food pantries, providing essential resources for nutritious meals. The collaboration seeks to raise awareness of hunger challenges faced by children, with Anthem's Dr. Shantanu Agrawal emphasizing the importance of access to healthy food for student well-being. The program targets nearly 1,000 families, transforming educational spaces to enhance food access.
iHeartMedia, the leading podcast publisher, partners with Red Table Talk to establish the Red Table Talk Audio Network. This collaboration will feature co-produced podcasts, including two existing series hosted by Jada Pinkett Smith and others. Over the next two years, five new series will launch, starting with a podcast spinoff hosted by Gloria Estefan on August 25. Red Table Talk, with a significant social media following, is produced by Westbrook Studios, which aims to create impactful content.
NEOU, a live streaming and on-demand fitness marketplace, has partnered with iHeartMedia, the leading audio company in the U.S., to enhance brand awareness and introduce its fitness content to a wider audience. The collaboration will utilize iHeartMedia's extensive audio network, reaching 90% of Americans monthly and promoting NEOU's affordable, diverse fitness offerings. NEOU aims to democratize access to high-quality workouts and has raised over $40 million to date. This partnership is expected to expand NEOU's reach significantly.
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iHeartMedia reported Q2 2021 results with revenue of $862 million, a 77% increase YoY, and GAAP operating income of $28 million, reversing a $159 million loss in Q2 2020. Adjusted EBITDA reached $185 million, up from a $(29) million loss last year. Digital Audio Group showed strong growth, with revenue up 112% YoY, led by podcast revenue surging 152%. The company anticipates a 20% revenue increase in Q3 and aims to return to 2019 adjusted EBITDA levels by year-end. Cash balance stood at $583 million as of June 30, 2021.