Companies · IHRT
iHeartMedia
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Aug 10, 2026
iHeartMedia beats Q2 revenue guidance on digital audio strength; Digital Audio Group EBITDA exceeds Multiplatform for sixth consecutive quarter
iHeartMedia delivered Q2 2026 consolidated revenue of $977 million, up 4.7% year-over-year and above low-single-digit guidance, driven by Digital Audio Group revenue growth of 12.4% to $364 million and podcast revenue acceleration of 20.7% to $162 million. The company generated adjusted EBITDA of $152 million, slightly above the $140–$160 million guidance range, and converted to positive free cash flow of $46 million versus negative $13 million in the prior year. Digital Audio Group adjusted EBITDA of $123 million now exceeds Multiplatform Group adjusted EBITDA for the sixth straight quarter, signaling a structural shift in the company's profit mix as podcasting and digital assets scale while broadcast radio monetization faces headwinds despite audience strength. Management reaffirmed full-year adjusted EBITDA guidance of $800 million and free cash flow guidance of $200 million, predicated on political revenue uplift, improved macro conditions, and programmatic revenue expected to reach approximately $200 million (up 50% from $135 million in 2025).
Tone: cautiousRevenue
$3.9B
IHRT 10-K · FY 2025
Employees
9,550
Revenue FY2024
$3.9B
Founded
2007
Profile
IHRT 10-K Item 1 · Mar 2, 2026iHeartMedia is the largest audio media company in the United States by consumer reach, operating broadcast radio stations, a leading podcast network, and a suite of digital audio platforms under the iHeartRadio masterbrand. The company generates revenue primarily through advertising sold across its multiplatform portfolio, which spans approximately 860 broadcast radio stations, the number-one ranked podcast publisher by Podtrac, and proprietary ad technology serving both local and national advertisers. It organizes its business into three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group.
Read filing description ↓ Collapse description ↑
iHeartMedia is the number one audio media company in the U.S. based on consumer reach. We operate in the 'companionship' sector of audio, in which people regard radio and podcasting personalities as their trusted friends and companions on whom they rely to provide coverage on everything from entertainment, local news, storytelling, information about new music and artists, weather, traffic, sports and more. We believe we are the only major multi-platform audio media company, and each platform is complementary to the others, building on and extending our companionship relationship with the consumer. Our product strategy is to be where our listeners are with the products and services they expect from us regardless of where they are and what platforms they are using. Our radio stations, podcasts and other content can be heard across a broad range of audio platforms, including our AM/FM broadcast radio stations; HD digital radio stations; the Internet at iHeart.com, our radio stations' websites, and certain Metaverse platforms; and through our iHeartRadio mobile application on 500+ platforms and thousands of devices, including enhanced automotive dashes, on tablets, wearables and smartphones, on gaming consoles, via in-home entertainment (including smart televisions) and voice-controlled smart speaker devices. All of this is supported by the largest audio sales force in the United States, executing on the strategy of any seller, anywhere being able to sell anything, supported by our unique technology. We report our financial statements based on three reportable segments: Multiplatform Group, which includes the Company's Broadcast radio, Networks, Sponsorships and Events businesses; Digital Audio Group, which includes all of the Company's Digital businesses including podcasting, the iHeartRadio digital service, its digital advertising technology companies, its websites, newsletters and digital services and programs; and its audio industry-leading social media footprint; and Audio & Media Services Group, which provides other audio and media services, including the Company's media representation business, Katz Media Group, and RCS Sound Software.
Primary products
- AM/FM broadcast radio stations
- HD digital radio stations
- iHeartRadio mobile application
- Podcasting
- Premiere Networks
- Total Traffic & Weather Network
Business segments
End markets
Geographies
Named customers
no single advertising category makes up more than approximately 5% of our total advertising revenue
“iHeartMedia is the number one audio media company in the U.S. based on consumer reach.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue across the three segments totaled approximately $3.875 billion in 2025 versus approximately $3.865 billion in 2024, with Digital Audio Group growth partially offsetting declines in Multiplatform Group and Audio & Media Services Group.
The rest of IHRT is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.