iHeart Q1 Revenue Up on Digital, Podcast Gains

RADIO ONLINE | Monday, May 11, 2026 | 3:23pm CT

iHeartMedia

iHeartMedia reported first quarter 2026 results showing revenue growth driven by its digital audio and podcasting businesses, despite declines in profitability and continued pressure on cash flow.

The company posted total revenue of $884 million for the quarter ended March 31, up 9.6% from a year earlier. Operating income improved to $1.5 million compared to a loss of $25 million in the first quarter of 2025.

Digital Audio Group revenue increased 18% to $327 million, fueled by a 27% jump in podcast revenue and a 12% gain in other digital advertising. The segment remained a key growth driver, although its adjusted EBITDA was essentially flat year-over-year.

The company's Multiplatform Group, which includes broadcast radio, reported revenue of $493 million, up 4%, but saw adjusted EBITDA decline 33% due in part to higher expenses tied to strategic marketing initiatives and softer broadcast advertising demand.

Overall adjusted EBITDA fell 11.4% to $93 million. iHeart also reported negative free cash flow of $114 million and cash used for operating activities of $93 million during the quarter.

CEO Bob Pittman said the company expects 2026 to benefit from the midterm election cycle and reaffirmed full-year guidance, including approximately $800 million in adjusted EBITDA and about $200 million in free cash flow.

As part of its outlook, iHeartMedia also announced a new cost-savings initiative targeting $50 million in annualized reductions, in addition to previously announced savings measures.

The company ended the quarter with $135 million in cash and nearly $495 million in total available liquidity, as it continues to focus on expanding digital revenue streams and managing its debt position.