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2 clusters · 4 sources · 3 days · First seen · Last updated

iHeartMedia Q2 financial performance

Overview

iHeartMedia reported second-quarter revenue of $977 million, a 4.7% increase that exceeded company guidance. Growth was attributed to rising political advertising for primary and midterm elections, as well as strength in the digital audio segment.

Digital audio revenue rose by approximately 12%, with podcast revenue specifically growing by over 20%. The company is expanding its reach through video podcast distribution via partnerships with platforms such as Netflix and Hulu. While the multiplatform group, including broadcast radio, faced revenue pressure, the Digital Audio Group’s adjusted EBITDA has surpassed that of the Multiplatform Group for six consecutive quarters.

Financial metrics showed adjusted EBITDA at $152 million and free cash flow improving to $46 million, compared to a negative $13 million in the same quarter the previous year.

Entities

iHeartMedia · Netflix · Hulu · Bob Pittman · Disney

Timeline

  1. 7 days ago

    [BUSINESS] 3 sources
    iHeartMedia reports Q2 revenue growth led by digital audio

    iHeartMedia reported Q2 revenue of $977 million, driven by a 12.4% increase in its Digital Audio Group and significant growth in podcasting revenue.

  2. 9 days ago

    [BUSINESS] 2 sources
    iHeartMedia reports Q2 revenue growth driven by political ads

    iHeartMedia reported a 4.7% increase in Q2 revenue to $977 million, driven by political advertising, while its podcast and digital audio divisions saw significant growth.

Sources

ampthemag.com · rbr.com · seekingalpha.com · stocknews.com