Reve-News: iHeart
Reve-News: iHeartMedia reported Q3 revenue of $1.03 billion, up 3.3% from the prior year's $997m. Adjusted EBITDA was down from $205m to $170m. Broadcast radio revenue was $407.8m (-4.5%), digital revenue (excluding podcasting) was $215m (+6.4%) and podcast revenue was $173.7m (+24.4%). "While this quarter was negatively impacted by a number of factors, we believe many of our revenue challenges are addressable – and beginning in 2027, we expect to establish podcasting as a separate reporting segment, which will provide greater insight into its financial performance and make it easier to fully value all four of our segments and our entire company,” says Pres./COO Rich Bressler. See full release here.