iHeartMedia Q2 Revenue Rises 4.7% to $977 Million

RADIO ONLINE | Monday, August 10, 2026 | 3:06pm CT

iHeartMedia

iHeartMedia reported second-quarter 2026 revenue of $977.2 million, an increase of 4.7% from $933.7 million a year earlier, as continued growth in its digital and podcast businesses offset weakness in its Multiplatform Group.

Excluding political advertising, consolidated revenue increased 3.5%. GAAP operating income was $35.5 million, essentially flat with $35.4 million in the second quarter of 2025, while Adjusted EBITDA declined 2.9% to $151.5 million from $156.1 million.

The company reported a net loss of $82.5 million, compared with a loss of $84.0 million a year ago. Cash provided by operating activities increased to $64.9 million from $6.8 million, while Free Cash Flow improved to $46.0 million from negative $13.2 million.

Digital Audio Group revenue climbed 12.4% to $364.1 million, led by a 20.7% increase in podcast revenue to $162.1 million. Digital revenue excluding podcasts increased 6.6% to $202.0 million. Digital Audio Adjusted EBITDA rose 14.5% to $123.2 million, with a margin of 33.8%.

"Our podcast revenue momentum continues, up 20.7% compared to prior year," said iHeartMedia Chairman and CEO Bob Pittman. He noted that the company's broadcast radio assets are also helping it develop the emerging video podcast market, including opportunities with streaming services such as Netflix and Hulu.

Pittman said the quarter marked the sixth consecutive period in which Digital Audio Group Adjusted EBITDA exceeded that of the company's Multiplatform Group.

Multiplatform Group revenue declined 1.6% to $535.7 million, reflecting decreases in network, sponsorship and event revenue. Broadcast radio revenue increased 0.5% to $397.6 million, while network revenue fell 3.8% and sponsorship and events declined 16.3%.

Multiplatform Group Adjusted EBITDA fell 39.2% to $58.6 million from $96.4 million a year earlier, with its margin declining to 10.9% from 17.7%.

The Audio & Media Services Group posted an 18.8% revenue increase to $80.5 million, driven primarily by higher digital and political advertising revenue. Segment Adjusted EBITDA increased 54.6% to $36.7 million.

President and COO Rich Bressler said the company's second-quarter performance gives iHeartMedia "additional confidence in the second half of the year." The company also extended the maturity of its $450 million asset-based revolving credit facility from May 2027 to January 30, 2029.

For the third quarter, iHeartMedia expects consolidated revenue to increase in the mid-single digits and Adjusted EBITDA of approximately $180 million to $220 million.

For full-year 2026, the company continues to project Adjusted EBITDA of approximately $800 million and Free Cash Flow of approximately $200 million. It also expects $125 million in 2026 cost savings and approximately $200 million in programmatic revenue, up about 50%.

As of June 30, iHeartMedia had $174.4 million in cash, $457.2 million in total available liquidity and approximately $5.04 billion in total debt.