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iHeartMedia, Inc. operates as an audio media company in the United States. It operates in three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations; sponsorships and endorsements; live, in-person, and virtual events; and the SmartAudio platform, a comprehensive suite of tech-enabled advertising solutions. This segment also operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates; and Total Traffic & Weather Network, which delivers real-time traffic flow and incident information along with weather updates, sports, and news. Its Digital Audio Group segment provides podcasting, digital sites, newsletters, digital services and programs, and ad tech platforms; free ad-supported streaming offerings, subscription streaming, display advertisements, and other content disseminated over digital platforms and social media; and iHeartRadio, a mobile app and web-based service that allows users to listen to radio stations, digital-only stations, custom artist stations, and podcasts. This segment also engages in the digital advertising technology business. The Audio & Media Services Group segment is involved in the media representation business. This segment also provides RCS, a cloud and on-premises broadcast software, which offers radio and television automation, music scheduling, newsroom automation, advertising sales management, and disaster recovery solutions; real-time audio recognition technology; and media streaming and research services to radio and television stations, cable channels, record labels, advertisers, and agencies worldwide. The company was formerly known as CC Media Holdings, Inc. and changed its name to iHeartMedia, Inc. in September 2014. iHeartMedia, Inc. was incorporated in 1974 and is headquartered in San Antonio, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.9B | $289M | $-473M | $11M | 25.8% | 0.3% | -53.2% |
| 2024 | $3.9B | $-379M | $-1.0B | $-26M | 73.3% | 2.8% | -8.4% |
| 2023 | $3.8B | $-344M | $-1.1B | $110M | 279.8% | -4.1% | 316.6% |
| 2022 | $3.9B | $529M | $-265M | $259M | -39.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,912.28 | 3,751.02 | 3,854.53 | 3,864.99 |
| Operating Revenue | - | 3,912.28 | 3,751.02 | 3,854.53 | 3,864.99 |
| Cost Of Revenue | - | 1,480.33 | 1,494.23 | 1,588.93 | 1,613.43 |
| Gross Profit | - | 2,431.96 | 2,256.79 | 2,265.60 | 2,251.56 |
| Operating Expense | - | 2,063.61 | 2,085.82 | 2,106.03 | 2,058.30 |
| Selling General And Administration | - | 1,592.95 | 1,656.17 | 1,693.68 | 1,687.62 |
| Total Expenses | - | 3,543.93 | 3,580.05 | 3,694.96 | 3,671.72 |
| Operating Income | - | 368.35 | 170.98 | 159.57 | 193.27 |
| Total Operating Income As Reported | - | 56.86 | -797.31 | -763.11 | -20.64 |
| EBITDA | - | 529.39 | -344.42 | -378.88 | 288.90 |
| Normalized EBITDA | - | 811.71 | 595.27 | 565.58 | 547.41 |
| EBIT | - | 83.72 | -772.90 | -788.46 | -71.15 |
| Interest Expense | - | 341.67 | 389.78 | 379.43 | 402.54 |
| Net Interest Income | - | -341.67 | -389.78 | -379.43 | -402.54 |
| Other Non Operating Income Expenses | - | -2.30 | -0.66 | -0.93 | 1.09 |
| Other Income Expense | - | -284.63 | -943.88 | -948.04 | -264.42 |
| Interest Expense Non Operating | - | 341.67 | 389.78 | 379.43 | 402.54 |
| Net Non Operating Interest Income Expense | - | -341.67 | -389.78 | -379.43 | -402.54 |
| Pretax Income | - | -257.95 | -1,162.68 | -1,167.90 | -473.68 |
| Tax Provision | - | 4.72 | -62.34 | -158.40 | -1.80 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -59.29 | -50.74 | -128.45 | -1.03 |
| Net Income Continuous Operations | - | -262.67 | -1,100.34 | -1,009.49 | -471.89 |
| Net Income From Continuing And Discontinued Operation | - | -264.66 | -1,102.66 | -1,009.94 | -472.87 |
| Net Income From Continuing Operation Net Minority Interest | - | -264.66 | -1,102.66 | -1,009.94 | -472.87 |
| Net Income | - | -264.66 | -1,102.66 | -1,009.94 | -472.87 |
| Net Income Common Stockholders | - | -264.66 | -1,102.66 | -1,009.94 | -472.87 |
| Net Income Including Noncontrolling Interests | - | -262.67 | -1,100.34 | -1,009.49 | -471.89 |
| Normalized Income | - | -41.63 | -213.71 | -193.92 | -215.39 |
| Diluted NI Availto Com Stockholders | - | -264.66 | -1,102.66 | -1,009.94 | -472.87 |
| Basic Average Shares | - | 143.25 | 149.26 | 147.17 | 150.16 |
| Diluted Average Shares | - | 143.25 | 149.26 | 147.17 | 150.16 |
| Reconciled Depreciation | - | 445.66 | 428.48 | 409.58 | 360.05 |
| Reconciled Cost Of Revenue | - | 1,480.33 | 1,494.23 | 1,588.93 | 1,613.43 |
| Total Unusual Items | - | -282.32 | -939.69 | -944.46 | -258.51 |
| Total Unusual Items Excluding Goodwill | - | -282.32 | -939.69 | -944.46 | -258.51 |
| Minority Interests | - | -1.99 | -2.32 | -0.45 | -0.98 |
| Net Income Discontinuous Operations | 0 | - | - | - | - |
| Special Income Charges | - | -281.27 | -911.56 | -1,019.99 | -215.48 |
| Other Special Charges | - | -30.21 | -56.72 | 97.30 | 1.58 |
| Impairment Of Capital Assets | - | 311.49 | 965.09 | 922.68 | 213.91 |
| Restructuring And Mergern Acquisition | 0 | - | - | - | - |
| Gain On Sale Of Security | - | -1.04 | -28.13 | 75.52 | -43.02 |
| Depreciation Amortization Depletion Income Statement | - | 445.66 | 428.48 | 409.58 | 360.05 |
| Depreciation And Amortization In Income Statement | - | 445.66 | 428.48 | 409.58 | 360.05 |
| General And Administrative Expense | 1,520.74 | 1,592.95 | - | - | - |
| Other Gand A | 1,520.74 | 1,592.95 | - | - | - |
| Gain On Sale Of Ppe | - | - | -3.20 | - | - |
| Total Other Finance Cost | 332.38 | 341.67 | 389.78 | - | - |
| Other Operating Expenses | - | 25 | 1.16 | 2.77 | 10.63 |
| Earnings From Equity Interest | - | -0.01 | -3.53 | -2.65 | -7 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| iHeartMedia, Inc.this co. | IHRT | $636M | -1.35 | -0.35 | 25.8% | 21.30 |
| Groupon, Inc. | GRPN | $704M | -8.43 | -16.54 | 196.2% | -60.11 |
| QuinStreet, Inc. | QNST | $681M | 144.74 | 2.79 | 1.9% | 19.33 |
| EverQuote, Inc. | EVER | $680M | 6.85 | 2.86 | 41.7% | 7.26 |
| Reservoir Media, Inc. | RSVR | $672M | 80.90 |
| - |
| - |
| - |
| - |
| - |
| 1.78 |
| 2.2% |
| 16.22 |
| The Marcus Corporation | MCS | $618M | 48.69 | 1.35 | 2.8% | 10.29 |
| Gogo Inc. | GOGO | $557M | 43.12 | 5.51 | 12.8% | 8.31 |
| NerdWallet, Inc. | NRDS | $536M | 11.00 | 1.43 | 13.0% | 3.93 |
| Cars.com Inc. | CARS | $522M | 26.04 | 1.10 | 4.2% | 5.86 |
| Peer Median | - | 34.58 | 1.60 | 8.5% | 7.78 | |