Group 1 - The media industry, particularly traditional broadcast radio companies, has faced significant challenges in recent years, exacerbated by the Covid-19 pandemic [1] - Prior to the pandemic, some companies in this sector appeared to be recovering from previous financial difficulties and were managing their debt loads effectively [1] Group 2 - The article does not provide specific financial data or performance metrics related to the companies discussed [2][3]

IHeartMedia (IHRT) came out with a quarterly loss of $0.63 per share versus the Zacks Consensus Estimate of a loss of $0.47. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -34.04%. A quarter ago, it was expected that this radio company would post earnings of $0.39 per share when it actually produced earnings of $0.76, delivering a surprise of 94.87%.Over the last four quarters, the company has s ...

iHeartMedia (IHRT) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Good afternoon. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the iHeartMedia First Quarter twenty twenty five Earnings Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. There At this time, I would like to turn the conference over to ...

Safe Harbor Statement First Quarter 2025 Investor Presentation May 12, 2025 NASDAQ: IHRT Forward Looking Language Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries (the "Company"), to be materially diffe ...

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, 2025 ☐ 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 ...

Financial Data and Key Metrics Changes - In Q4 2024, the company generated adjusted EBITDA of $246 million, an increase of 18.2% compared to the prior year [9][26] - Consolidated revenues for the quarter were up 4.8% year-over-year, but down 1.8% when excluding political impacts [10][24] - The company reported a GAAP operating income of $104.5 million, compared to $79.8 million in the prior year [26] - The net debt position at quarter end was approximately $4.52 billion, the lowest in the company's history, with total liquidity of $686 million [30][31] Business Line Data and Key Metrics Changes - The Digital Audio Group generated revenues of $339 million, up 6.7% year-over-year, contributing approximately 30% of total revenue [10][27] - The Multiplatform Group's revenues were $684 million, flat compared to the prior year, with adjusted EBITDA of $150 million, up 5.9% [15][29] - The Audio and Media Services Group saw revenues of $98 million, up 44.7% year-over-year, with adjusted EBITDA increasing 136% from $21 million in the prior year [19][29] Market Data and Key Metrics Changes - The company noted that broadcast radio has more listeners today than it did 20 years ago, maintaining strong audience reach compared to other media [17] - The Digital Audio Group's podcast revenues grew 5.7% year-over-year, with expectations for high teens growth in Q1 2025 [11][12] Company Strategy and Development Direction - The company completed a comprehensive exchange transaction that extended debt maturities by three years and reduced overall debt levels, enhancing financial flexibility [7][31] - The company is focused on modernizing operations, flattening the organization, and implementing cost-saving initiatives expected to generate $150 million in net savings [8][24] - The company aims to integrate broadcast radio inventory into programmatic platforms to align with digital buying behavior [21][22] Management Comments on Operating Environment and Future Outlook - Management expressed optimism for the year ahead despite economic uncertainties, including tariffs, inflation, and consumer confidence declines [33][34] - The company expects Q1 2025 adjusted EBITDA in the range of $100 million to $110 million, with revenues anticipated to be down low single digits compared to the prior year [36][38] - Full year 2025 guidance includes flat revenues compared to 2024 and adjusted EBITDA of approximately $770 million [38][39] Other Important Information - The company recorded $33.5 million in restructuring expenses in Q4, impacting free cash flow [32] - The company launched a redesigned iHeartRadio app, receiving positive feedback from listeners [14] Q&A Session Summary Question: How is the company thinking about monetizing broadcast listening going forward? - Management emphasized the importance of programmatic and automated buying to fit broadcast radio inventory into digital-centric buying systems [44][45][46] Question: Can you address the video podcasting opportunity? - Management noted that while there is interest in video podcasting, the majority of podcast users prefer audio, and the focus remains on delivering what consumers want [54][56][57] Question: What are the expected drivers of growth in the podcasting business this year? - Growth drivers include expanding product offerings, audience, value, and pricing, with continued demand for podcasting [82][83] Question: Why was political advertising revenue lower than expected? - Management indicated that political campaigns are becoming more data-driven, and the company is preparing to enhance its offerings for future political cycles [85][86]

Fourth Quarter 2024 Investor Presentation February 27, 2025 NASDAQ: IHRT Safe Harbor Statement Forward Looking Language Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries (the "Company"), to be materially ...

Core Insights - iHeartMedia reported quarterly earnings of $0.76 per share, significantly exceeding the Zacks Consensus Estimate of $0.39 per share, and showing a substantial increase from $0.09 per share a year ago, resulting in an earnings surprise of 94.87% [1] - The company generated revenues of $1.12 billion for the quarter ended December 2024, which was 4.15% below the Zacks Consensus Estimate, but an increase from $1.07 billion year-over-year [2] - iHeartMedia's stock has increased by approximately 14.7% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] Earnings Outlook - The future performance of iHeartMedia's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook, including current consensus earnings expectations for upcoming quarters [4][6] - The current consensus EPS estimate for the next quarter is -$0.37 on revenues of $804.35 million, and for the current fiscal year, it is -$0.11 on revenues of $3.83 billion [7] Industry Context - The Broadcast Radio and Television industry, to which iHeartMedia belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Regulation and Compliance - The company is subject to extensive regulation by the FCC under the Communications Act, which includes licensing and compliance requirements[64]. - The FCC grants broadcast licenses for a term of up to eight years, with historical renewals typically granted for the full term[68]. - The maximum allowable number of radio stations that may be commonly owned in a market varies based on the number of stations, with up to eight stations permitted in markets with 45 or more stations[71]. - The FCC has the authority to impose fines exceeding $400,000 per violation for broadcasting obscene or indecent material, with a cap exceeding $4 million for continuing violations[77]. - The FCC's local radio ownership rules are reviewed every four years, with the latest review retaining existing numerical limits on ownership[73]. - The company is required to engage in equal employment opportunity recruitment efforts and report data to the FCC[78]. Licensing and Royalties - The company must pay license fees to copyright owners for broadcasting and streaming music, with ongoing negotiations that could impact licensing costs[80]. - The outcome of pending rate-setting proceedings for music royalties could result in increased licensing costs for the company[81]. Privacy and Data Protection - The company collects personal information from users through various platforms, which is subject to evolving privacy and data protection regulations[85]. - Comprehensive state privacy laws are now in effect in multiple states, establishing data privacy rights for consumers and imposing new assessment requirements for higher risk data processing[87]. - The California Consumer Privacy Act (CCPA) allows for private right of action with potential damages of $100 to $750 per consumer per incident for data breaches[88]. - The EU GDPR and UK GDPR impose fines up to €20 million or £17.5 million, or 4% of worldwide annual turnover for inadequate breach notifications[88]. - Compliance with new privacy laws entails substantial expenses and could limit the services the company is able to offer[87]. Antitrust and Market Concentration - The company faces potential scrutiny under federal antitrust laws for acquisitions that may increase market concentration[84]. Legal Liabilities - The Telephone Consumer Protection Act (TCPA) allows for damages up to $500 per violation, with significant settlements possible depending on the class size[90].

Revenue Performance - Q4 2024 revenue reached $1,118 million, an increase of 4.8% year-over-year, while excluding political revenue, it decreased by 1.8%[4] - Full Year 2024 revenue totaled $3,855 million, a 3% increase year-over-year, remaining flat when excluding political revenue[5] - Revenue for Q4 2024 was $1,118,269,000, representing a 4.8% increase from $1,066,783,000 in Q4 2023[32] - Total revenue for the year ended December 31, 2024, was $3,854,532, an increase from $3,751,025 in 2023, representing a growth of approximately 2.8%[67] - The Multiplatform segment generated revenue of $1,164,515 in 2024, while the Digital Audio segment contributed $2,372,909, showing a significant revenue contribution from Digital Audio[67] Adjusted EBITDA and Profitability - Consolidated Adjusted EBITDA for Q4 2024 was $246 million, up 18.2% from $208 million in Q4 2023, marking the highest percentage increase in nearly three years[7] - Adjusted EBITDA for Q4 2024 was $246,208,000, an 18.2% increase compared to $208,210,000 in Q4 2023[43] - Adjusted EBITDA for the year ended December 31, 2024, was $705,617, compared to $696,598 in 2023, indicating stable operational performance[60] - The Adjusted EBITDA margin for the consolidated results was 22.0% in Q4 2024, compared to 19.5% in Q4 2023, indicating improved profitability[65] - The Adjusted EBITDA margin for the Digital Audio segment was 43.0% in 2024, compared to 32.6% in 2023, highlighting improved efficiency in this segment[67] Debt and Cash Flow - The company completed a debt exchange transaction, reducing net debt to approximately $4.52 billion, the lowest in its history, and extended maturities by three years[7] - Free Cash Flow for Q4 2024 was $(24) million, impacted by $89 million in debt exchange fees and $46 million in accrued interest payments[13] - Cash provided by operating activities for the year ended December 31, 2024, was $71,429,000, down from $213,062,000 in 2023[28] - The company had a cash balance of $259,600,000 and total available liquidity of $685,900,000 as of December 31, 2024[31] - Total debt as of December 31, 2024, was $5,071,500,000, with net debt at $4,517,900,000[30] Operational Efficiency and Future Guidance - The company expects to drive shareholder value and improve operational efficiency through new technologies and strategic initiatives[40] - Q1 2025 consolidated revenue is expected to decline in the low-single digits, with Adjusted EBITDA projected to be between $100 million and $110 million[4] - The company anticipates approximately flat consolidated revenue for the full year 2025 in a non-political year, with Adjusted EBITDA expected to be around $770 million[4] - The Company plans to provide guidance for Consolidated Revenue and Adjusted EBITDA for the quarter ending March 31, 2025, during the earnings call on February 27, 2025[59] Income and Expenses - Net income for the year ended December 31, 2024, was a loss of $1,009,494,000, improving from a loss of $1,100,339,000 in 2023[30] - Operating income for Q4 2024 was $104,547,000, compared to $79,780,000 in Q4 2023[43] - Operating loss for 2024 was $763,108, which is an improvement from the operating loss of $797,311 in 2023, reflecting a reduction in losses[67] - Operating expenses for 2024 totaled $3,148,915, compared to $3,054,427 in 2023, indicating an increase in operational costs[67] - Restructuring expenses for Q4 2024 were $33,456, compared to $13,882 in Q4 2023, reflecting ongoing efforts to streamline operations[65]