UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ TO __________ Commission File Number 001-38987 IHEARTMEDIA, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

hapabapa Though iHeartMedia, Inc. (NASDAQ:IHRT, OTCPK:IHRTB) faces a big advertising boost from the U.S. Presidential election cycle this year, the stock now trades back at the lows due to economic fears. In addition, the media company should ride the Podcast market growth over the next few years, as the revenue generated by this medium is still relatively small. My investment thesis remains ultra-bullish on the stock, with solid cash flows helping reduce the debt fears. Source: Finviz Big 2024 Ahead iHeart ...

The first two episodes are available now Listen Here NEW YORK, March 19, 2024 (GLOBE NEWSWIRE) -- Today, Orbit Media, the podcast company co-founded by Oscar winner Fisher Stevens, and iHeartPodcasts, the no.1 podcast publisher according to Podtrac, announced "The Burden." A companion to "Empire on Blood," the #1 podcast produced by Orbit's creators, "The Burden" will invite listeners into a crazy world of murder where voiceless, convicted murderers must take down a legendary cop and disrupt the entire syst ...

NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--Tonight, the 2024 iHeartPodcast Awards Presented by The Hartford Live at SXSW brought together the most influential names in podcasting to honor the most entertaining and innovative podcasts of 2023, celebrating the incredible talent and wide variety of leaders across the podcasting industry live and in-person in Austin, Texas at the Fairmont Hotel. The event was also exclusively video streamed on iHeartRadio’s YouTube Channel and broadcast across iHeartMedia radio ...

NEW YORK--(BUSINESS WIRE)--In celebration of International Women’s Day, Hello Sunshine, a part of Candle Media, and iHeartPodcasts, the No. 1 podcast publisher according to Podtrac, announced today they have teamed up to launch “The Bright Side” – an innovative, new, female-led audio project that will inspire listeners and add joy to their morning routines. Debuting March 25, “The Bright Side” is co-hosted by journalist, TV host and podcaster, Danielle Robay and Emmy-nominated journalist, host, and producer ...

Bob Pittman, iHeartMedia's CEO and Host of the Math & Magic Marketing Podcast, will interview International Icon Pitbull on Creating Culture, Building Brands and Harnessing the Power of Fandom on April 16 at the Fontainebleau Miami Beach NEW YORK, March 7, 2024 /PRNewswire/ -- Beyond Ordinary Events, Inc. and POSSIBLE, the premier marquee marketing event, today announced that Armando Christian Pérez, better known as Pitbull, will take the stage on April 16 for a candid interview with Bob Pittman, Chairman a ...

NEW YORK--(BUSINESS WIRE)--iHeartMedia and FOX Entertainment today announced the 2024 iHeartRadio Music Awards will feature performances by Justin Timberlake, Green Day, TLC, Jelly Roll, Lainey Wilson, Tate McRae and more plus a special musical tribute to the 2024 iHeartRadio Icon Award Recipient Cher. The event will air LIVE from Dolby Theatre in Los Angeles, Monday, April 1 (8:00-10:00 p.m. ET live / PT tape-delayed) on FOX. The event also will be heard on iHeartMedia radio stations nationwide and on the ...

NEW YORK--(BUSINESS WIRE)--In honor of International Women's Day on March 8, iHeartMedia today announced the fourth annual celebration of women who make music, influence change, and create a culture with “Women Take the Mic” on March 8, 2024. This year’s celebration includes: Women Taking the Mics On-Air: Women will lead the conversation all day across every iHeartRadio music station nationwide on March 8, 2024. Women Take the Mic Music Hour: On March 8 from 5-6 p.m. local time iHeartMedia broadcast ra ...

Financial Data and Key Metrics Changes - In Q4 2023, consolidated revenues decreased by 5.2% year-over-year, slightly better than the guidance of down high-single-digits, while adjusted EBITDA was $208 million, within the guidance range of $205 million to $215 million [12][47][51] - The company generated $142 million of free cash flow in Q4 2023, compared to $93 million in the prior year quarter [25][47] - The net debt to adjusted EBITDA ratio at quarter end was 7 times, with a long-term goal of approximately 4 times [24][35] Business Line Data and Key Metrics Changes - The Digital Audio Group's revenues were $318 million, up 5.5% year-over-year, and adjusted EBITDA was $117 million, up 17.3% year-over-year, with margins at 36.7% [2][18] - The Multiplatform Group's revenues were $684 million, down 6.7% year-over-year, and adjusted EBITDA was $142 million, down 38.5% year-over-year, with margins at 20.7% [4][13] - The Audio and Media Services Group's revenues were $68 million, down approximately 28.6% year-over-year, and adjusted EBITDA was $21 million, down from $45 million in the prior year [53] Market Data and Key Metrics Changes - The company expects Q1 2024 revenues to be flat to down 2% year-over-year, with January revenue down 8% but showing improvement in February and March [25][56] - Political advertising is anticipated to significantly benefit the company in the second half of 2024, as it is a presidential election year [11][40] Company Strategy and Development Direction - The company is focusing on enhancing its advertising business through proprietary technology and AI, aiming to unlock programmatic and automated trading revenue [17][9] - The strategy includes reallocating capital from lower growth segments to higher growth areas, particularly the Digital Audio Group, which has shown significant growth [52][23] Management's Comments on Operating Environment and Future Outlook - Management views 2024 as a recovery year, expecting a return to growth mode, particularly benefiting the Multiplatform Group and broadcast radio assets due to higher operating leverage [11][56] - The advertising marketplace is showing signs of strengthening, with expectations for continued improvement throughout the year [34][39] Other Important Information - The company has no material maintenance covenants and no debt maturities until May 2026, allowing for opportunistic responses to market developments [5] - The Digital Audio Group generated over $1 billion in revenue for the full year 2023, with a 33% adjusted EBITDA margin [18][52] Q&A Session Summary Question: Can you discuss the growth in podcasting and your market share? - Management highlighted that podcasting is the biggest growth vector in media, with an estimated market share of around 20% [29][30] Question: What is the outlook for advertising strength in 2024? - Management expressed optimism about advertising strengthening, particularly in the second half of the year due to political advertising [34][39] Question: How are you addressing expense trends and margin growth? - Management indicated that they expect margin expansion due to political advertising and ongoing cost efficiency measures [91][95] Question: What is the potential for podcasting in non-English markets? - Management noted that AI is being utilized to enhance translation capabilities for non-English podcasting, which is expected to contribute to revenue growth [102][108]

IHeartMedia (IHRT) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 80%. A quarter ago, it was expected that this radio company would post a loss of $0.05 per share when it actually produced a loss of $0.06, delivering a surprise of -20%.Over the last four quarters, the company has sur ...