Home Login RADIO ONLINE RSS Facebook
Advertisement

iHeartMedia Q1 Revenue Rises 19.4% to $843 Million


iHeartMedia
iHeartMedia

iHeartMedia reported first quarter consolidated revenue rose 19.4% to $843 million from $706.6 million in 2021. Broadcast radio grew 16.2%, while Network was up 2.1%, Digital excluding Podcast increased 22% and Podcast climbed 78.7%. Operating income was $12 million versus an Operating loss of $76 million. Consolidated Adjusted EBITDA climbed 42% to $145 million and Free Cash Flow was $(75) million.

"We're pleased to report another quarter of strong results, and believe our performance is further evidence of the successful execution of our digital transformation and multiplatform strategy, and the power of our position as the #1 audio company in America across broadcast radio, digital radio, and podcasting" said Chairman/CEO Bob Pittman. "We remain committed to building on iHeart's transformation into a data-led, digitally-focused business; to investing in areas with high growth potential; and to continuing our focus on innovation and being at the forefront of new technologies and digital platforms which create incremental growth opportunities for Audio."

"Bob and I are pleased that the company performed well this quarter, with Adjusted EBITDA of $145 million, and consolidated revenues up 19.4% year-over year -- slightly exceeding the high end of the revenue guidance range we provided -- despite external factors that have been impacting the economy," added President/COO and CFO Rich Bressler. "We remain focused on continuing Adjusted EBITDA margin expansion, the generation of Free Cash Flow and making progress toward reducing our net leverage to 4x."

Advertisement

Latest Radio Stories

Mark Hamilton Appointed Brand Manager for Audacy Duo
Audacy
Audacy
Audacy appoints Mark Hamilton as Brand Manager of KITS-FM (105.3 Dave FM) in San Francisco and KNRK-FM (94.7 Alternative) in Portland, OR, effective immediately. He'll continue to serve as Operations Manager of Audacy Portland. Hamilton joined the More

WNCB (B93.9)/Raleigh Names Nick Jordan APD/Afternoons
Nick Jordan
Nick Jordan
Nick Jordan is named Assistant Program Director and afternoon host for Country WNCB-FM (B93.9)/Raleigh, effective immediately. He'll air weekdays from 3-7pm. Jordan brings over six years of experience to his new role. He most recently served as More

Report: Podcast Ad Frequency Doubles in Past Year
Cumulus Media
Cumulus Media
The number of times podcast listeners hear an ad campaign is soaring. According to Podsights, a podcast attribution measurement firm, average podcast ad frequency has doubled in the past year, reducing podcast conversions. This week's Cumulus Media More
Advertisement

Danny Marang Joins KFXX/Portland as Midday Co-Host
Danny Marang
Danny Marang
Danny Marang is named midday co-host for Sports KFXX-AM (1080 The Fan) in Portland, OR. He joins longtime station host Dusty Harrah on "Danny and Dusty," weekdays from 12-3pm PT, effective immediately. Marang is a 10-year Portland media veteran who More

HRN Media Brings MLB Player Carlos Baerga to Radio
Carlos Baerga
Carlos Baerga
HRN Media Networks is launching a new daily show hosted by former major league baseball player Carlos Baerga. The 90-second feature, "Are You Ready to Play Ball with Carlos Baerga and Legends from Yesterday and Today," includes baseball analytics More

Podtrac Releases Weekly Podcast Data Through July 3
Podtrac
Podtrac
Podtrac has released its weekly tracking data of podcasts for the week of June 27 to July 3 showing downloads were down 1% over the previous week and up 71% over the corresponding period last year for Podtrac measured shows. The Science category More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Quick Snaps
KILT-FM/Houston: KILT-FM (100.3 The Bull) Houston's

Advertisement

Advertisement