iHeartMedia Q3 Revenue Rises 3.3% as Podcasts Gain

RADIO ONLINE | Monday, November 9, 2026 | 3:12pm CT

iHeartMedia

iHeartMedia reported third-quarter revenue of $1.03 billion, up 3.3% from a year earlier, as growth in podcasting and political advertising offset declines in broadcast and network revenue. Excluding political advertising, revenue rose 0.9%.

The company posted operating income of $73 million, compared with an operating loss of $116.3 million a year earlier. Its net loss narrowed to $8.2 million from $65.8 million, while adjusted EBITDA fell to $170.5 million from $204.8 million.

Digital Audio Group revenue rose 13.8% to $388.7 million. Podcast revenue climbed 24.4% to $173.7 million, driven by stronger advertiser demand, while other digital revenue increased 6.4% to $215 million. Higher content and marketing costs contributed to a 2.3% decline in the segment's adjusted EBITDA to $127.4 million.

Multiplatform Group revenue fell 4.9% to $562.4 million and was down 7% excluding political advertising. Broadcast revenue declined 4.5% on weaker spot sales, while network revenue fell 12%. The segment's adjusted EBITDA dropped 42.9% to $68 million. Audio & Media Services Group revenue rose 22.6% to $81.6 million, helped by political and digital advertising.

Chairman and CEO Bob Pittman said the continued rollout of iHeartMedia's AudioGraph platform could improve broadcast radio performance by making inventory available the way advertisers want to buy it. The company expects about $400 million in programmatic revenue in 2027, including approximately $100 million in incremental broadcast radio programmatic revenue. It also expects to begin reporting podcasting as a separate segment in 2027.

For the fourth quarter, iHeartMedia expects revenue to increase by a mid-single-digit percentage and adjusted EBITDA to range from $135 million to $185 million. The company projects full-year adjusted EBITDA of $550 million to $600 million and free cash flow of about $50 million.