NEWS
iHeartMedia, Inc. Reports Results for 2024 Third Quarter
Positive
Revenue increased 5.8% to $1,008 million in Q3 2024
Digital Audio Group revenue up 13% to $301 million
Podcast revenue grew 11% to $114 million
Cost efficiency programs to generate $150 million net annual savings in 2025
Q4 2024 Adjusted EBITDA expected to increase 39% to $290 million
Negative
Multiplatform Group revenue declined 1% to $620 million
Multiplatform Group Adjusted EBITDA down 20%
Net loss of $41.3 million in Q3 2024
Total debt remains high at $5.22 billion
Positive
Revenue increased 5.8% to $1,008 million in Q3 2024
Digital Audio Group revenue up 13% to $301 million
Podcast revenue grew 11% to $114 million
Cost efficiency programs to generate $150 million net annual savings in 2025
Q4 2024 Adjusted EBITDA expected to increase 39% to $290 million
Negative
Multiplatform Group revenue declined 1% to $620 million
Multiplatform Group Adjusted EBITDA down 20%
Net loss of $41.3 million in Q3 2024
Total debt remains high at $5.22 billion
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