Financial Performance - Q3 2025 revenue was $997 million, down 1.1% year-over-year; excluding political revenue, revenue increased by 2.8%[4] - GAAP operating loss was $116 million, compared to a GAAP operating income of $77 million in Q3 2024, including non-cash impairment charges of $209 million related to FCC licenses[4] - Consolidated Adjusted EBITDA was $205 million, flat compared to Q3 2024, with a slight increase from $204.6 million[10] - Multiplatform Group revenue decreased by 5% to $591 million, with an 8% decline in Adjusted EBITDA to $119 million[4] - The company reported a net loss of $65.8 million for the three months ended September 30, 2025, compared to a net loss of $41.3 million for the same period in 2024, indicating a deterioration in performance[56] - Operating loss for the three months ended September 30, 2025, was $(116.3) million, compared to an operating income of $76.7 million in the same period of 2024[39] - For the nine months ended September 30, 2025, total revenue was $2,737.8 million, showing a slight increase of 0.1% from $2,736.3 million in 2024[39] - Operating loss for the nine months ended September 30, 2025, was $106,341,000, an improvement from an operating loss of $867,655,000 in the same period of 2024[62] - The company reported impairment charges of $208.5 million for the three months ended September 30, 2025[39] - The company reported impairment charges of $213,908,000 for the nine months ended September 30, 2025, significantly lower than $922,144,000 in 2024[62] Digital Audio Group - Digital Audio Group revenue increased by 14% to $342 million, with podcast revenue up 22% to $140 million[4] - The Digital Audio Group's Adjusted EBITDA margin improved to 38.1%, up from 33.2% year-over-year[19] - The Digital Audio Group, which includes podcasting, reported a revenue increase of 22.5% for the three months ended September 30, 2025, reaching $139.7 million[28] - The Digital Audio Group revenue increased by 13.5% year-over-year for the three months ended September 30, 2025, reaching $341.7 million[59] Cash Flow and Liquidity - Cash used for operating activities was $10 million, with free cash flow at ($33) million[4] - As of September 30, 2025, the company had a cash balance of $192 million and total available liquidity of $510 million[4] - The cash balance was $192.2 million, with total available liquidity of $509.8 million, reflecting $100.0 million of outstanding borrowings under the ABL facility[27] - Free cash flow for the three months ended September 30, 2025, was negative at $(32.8) million, compared to positive free cash flow of $73.3 million in the same period of 2024[57] Debt and Financial Health - As of September 30, 2025, total debt of $5,120.3 million and net debt of $4,673.8 million[27] - Net debt as of September 30, 2025, was $4,673.8 million, calculated as total debt of $5,120.3 million minus cash and cash equivalents of $192.2 million[60] - The company’s stockholders' deficit increased to $(1,788.7) million as of September 30, 2025, from $(1,371.8) million as of December 31, 2024, indicating worsening financial health[40] Future Outlook - Q4 2025 consolidated revenue is expected to decline in low-single digits, while revenue excluding political impact is expected to increase in mid-single digits[4] - The company aims to achieve $150 million in net savings for 2025, with an additional $50 million in annual savings expected to begin in 2026[5] - The company provided guidance for consolidated revenue and Adjusted EBITDA for the quarter ending December 31, 2025, with further details expected in the earnings call on November 10, 2025[52] Operating Expenses - The company’s total operating expenses for the three months ended September 30, 2025, were $792,256,000, down from $803,548,000 in the same period of 2024[61] - The company incurred restructuring expenses of $54,763,000 for the nine months ended September 30, 2025, compared to $67,928,000 in 2024, indicating a reduction in restructuring costs[62]

Core Insights - iHeartMedia and TikTok have formed a groundbreaking multiplatform partnership to integrate TikTok creators into iHeart's ecosystem, launching the TikTok Podcast Network with up to 25 new podcasts [1][2][3] - The partnership aims to enhance creator engagement and expand their storytelling capabilities across various platforms, combining TikTok's cultural energy with iHeartMedia's extensive reach [2][3] Partnership Details - The TikTok Podcast Network will feature podcasts hosted by TikTok creators, supported by new co-branded podcast studios in Los Angeles, New York, and Atlanta, equipped with advanced audio and video infrastructure [3] - TikTok Radio will be launched, pairing TikTok creators with experienced iHeartRadio personalities, providing a unique audio experience that mirrors the TikTok scrolling experience [3] - iHeartMedia and TikTok will collaborate on live events, offering creators access to major events like the iHeartRadio Music Festival and Jingle Ball, enhancing brand activation opportunities [3][4] Marketing and Sponsorship - The partnership will leverage both companies' marketing capabilities to drive sponsorships and create new business opportunities for creators and their shows [5] - Mass-reach marketing strategies will be implemented across both platforms to maximize audience engagement and sponsorship potential [5]

Core Insights - StackAdapt and iHeartMedia have formed a partnership to integrate iHeartMedia's audio inventory into the StackAdapt platform, allowing marketers to access broadcast radio alongside digital audio, podcasts, and streaming inventory in real-time [1][2] Group 1: Partnership Overview - The integration simplifies audio planning and activation, enabling advertisers to plan, forecast, buy, measure, and report on all audio channels within StackAdapt, thus eliminating manual processes [2] - This partnership allows advertisers to target iHeartMedia's broadcast inventory using first-party audience segments and behavioral data, creating a unified audio strategy [4][6] Group 2: Market Reach and Impact - iHeartMedia's broadcast radio stations reach 278 million ad-supported listeners monthly, providing brands access to diverse audiences across the country [4] - The collaboration is particularly beneficial for political advertisers seeking to reach voters effectively during the 2026 election cycle by combining the reach of AM/FM broadcast with programmatic precision [5] Group 3: Industry Trends - The partnership reflects a resurgence in local and community-driven content, with AM/FM radio holding 64% of all daily ad-supported audio listening, driven by strong local programming [6] - The integration positions StackAdapt as a leader in audio advertising, having been ranked the 1 Audio Advertising Platform on G2 in 2025, indicating a growing demand for unified, data-driven audio solutions [3]

Core Insights - iHeartMedia is set to announce its earnings results, with analysts expecting a revenue decline of 2.9% year on year to $978.7 million, contrasting with a 5.8% increase in the same quarter last year [2][3] Revenue Performance - In the previous quarter, iHeartMedia reported revenues of $933.7 million, which was flat year on year and beat analysts' revenue expectations by 2.4% [1] - Analysts have generally reconfirmed their estimates over the last 30 days, indicating expectations for the company to maintain its performance heading into earnings [3] Peer Comparison - In the broadcasting segment, FOX reported a year-on-year revenue growth of 4.9%, exceeding analysts' expectations by 4.6%, while AMC Networks experienced a revenue decline of 6.3%, surpassing estimates by 2.7% [4] Market Sentiment - Investors in the broadcasting segment have shown stability, with share prices remaining flat over the last month; however, iHeartMedia's stock has increased by 75.7% during the same period [5] - The average analyst price target for iHeartMedia is $2.13, compared to its current share price of $4.55 [5]

Core Insights - T.D. Jakes is launching a new podcast titled "NXT Chapter with T.D. Jakes," premiering on November 14, featuring influential guests like Oprah Winfrey and Denzel Washington, aimed at fostering intimate conversations about personal and societal evolution [1][2][3] Group 1: Podcast Overview - "NXT Chapter" will provide a platform for distinguished voices to discuss pivotal life experiences and societal narratives, inviting listeners to reflect on their own journeys [2][3] - The podcast aims to serve as a guide for personal and national purpose evolution, encouraging clarity and compassion in conversations [4][6] Group 2: T.D. Jakes' Background - T.D. Jakes is a globally recognized thought leader, entrepreneur, and founder of The Potter's House Church, with a history of reshaping the intersection of faith, culture, and commerce [5][11] - His influence spans various sectors, including media, real estate, and philanthropy, with a notable partnership with Wells Fargo to mobilize up to $1 billion for inclusive development [11] Group 3: Strategic Partnership - The podcast is a collaboration with iHeartMedia, the leading podcast publisher, which will leverage its extensive audience reach to connect Jakes with a diverse listener base [9][12] - iHeartMedia's capabilities will enhance the podcast's visibility, building on Jakes's existing digital footprint, which generates over 2 billion annual impressions [9]

Group 1 - Netflix is in discussions to license video podcasts from iHeartMedia, aiming for exclusivity which would prevent these podcasts from being uploaded to YouTube [1] - iHeartMedia's podcast portfolio includes popular shows such as "The Breakfast Club," "Las Culturistas," "Jay Shetty Podcast," and "Stuff You Should Know" [1] - This news follows a recent agreement between Netflix and Spotify to provide a selection of curated podcasts, which will also be removed from YouTube but remain available on Spotify [2] Group 2 - The video podcast deals are part of Netflix's strategy to enhance its competitive position against YouTube, which has over 1 billion monthly active podcast viewers [3]

Core Viewpoint - iHeartMedia's shares reached their highest level in over two years following reports of Netflix negotiating to license video podcasts from the company [1] Group 1 - iHeartMedia's stock performance indicates a positive market reaction to potential partnerships with major streaming platforms like Netflix [1] - The licensing of video podcasts could enhance iHeartMedia's revenue streams and expand its content distribution [1]

Core Viewpoint - iHeartMedia's stock surged over 34%, reaching a two-year high of $3.90, following reports of negotiations with Netflix for exclusive rights to its video podcast content [1] Group 1: Company Developments - iHeartMedia is in talks with Netflix to secure exclusive licensing for its video podcast content [1] - The company owns popular podcast shows such as "The Breakfast Club" and "Las Culturistas" [1] - If the agreement is finalized, the complete video versions of these shows will be removed from YouTube [1]

Core Points - NBCUniversal has renewed its exclusive audio partnership with iHeartMedia for the Milan Cortina 2026 Olympic Winter Games, scheduled from February 6 to February 22, 2026 [1][6] - iHeartRadio will provide 24/7 audio coverage of NBCUniversal's linear programming, including play-by-play channels and original podcasts [1][2] - The partnership aims to enhance audience engagement by delivering Olympic content through various iHeart platforms, including popular podcasts [2][4] NBCUniversal and iHeartMedia Collaboration - The collaboration includes the return of the original iHeartPodcast "Two Guys, Five Rings," hosted by Bowen Yang and Matt Rogers, with weekly episodes launching in early January 2026 [3][4] - iHeartMedia will produce Olympic-themed episodes for its popular podcasts, expanding the reach of Olympic content beyond traditional media [4] Coverage and Content Focus - NBCUniversal's audio coverage will focus on key events such as U.S. team ice hockey, figure skating, speed skating, skiing, and snowboarding, emphasizing Team USA's participation [2][3] - The partnership is expected to deepen the connection between audiences and athletes, showcasing inspiring stories from the Winter Games [3] Historical Context of the Games - The 2026 Olympic Winter Games will take place across multiple venues in northern Italy, marking the second time Cortina has hosted the Olympics and the fourth time Italy has hosted overall [5][6] - NBCUniversal holds the U.S. media rights to the Olympic Games through 2036, covering multiple upcoming Olympic events [7]

Core Viewpoint - NBCUniversal has renewed its exclusive audio partnership with iHeartMedia for the Milan Cortina 2026 Olympic Winter Games, enhancing audio coverage and promoting engagement through various platforms [1][2]. Partnership Details - iHeartMedia will provide 24/7 play-by-play audio channels of NBCUniversal's linear coverage of the Games, including a new season of the iHeartPodcast "Two Guys, Five Rings" hosted by Bowen Yang and Matt Rogers [1][3]. - The partnership aims to deliver premium audio content, allowing fans to access Olympic coverage away from traditional screens [2][3]. Content and Coverage - iHeartPodcasts will produce Olympic-themed episodes for popular podcasts such as "Stuff You Missed in History Class" and "Revisionist History" [4]. - NBCUniversal's coverage will focus on various sports, including U.S. team ice hockey, figure skating, speed skating, skiing, and snowboarding [2][3]. Event Information - The Milan Cortina 2026 Olympic Winter Games will take place from February 6 to February 22, 2026, marking the second time Cortina has hosted the Olympics [5][6]. - NBCUniversal holds the U.S. media rights to the Olympic Games through 2036, covering multiple upcoming events in various locations [7]. Company Background - NBCUniversal is a leading media and entertainment company, operating a diverse portfolio that includes film, television, and streaming services [8]. - iHeartMedia is the largest audio media company in America, with a significant audience reach across broadcast radio and podcasts [9].