iHeartMedia has reported an operating loss of $116 million in the third quarter of 2025 down year-to-year from a $77 million income in 2024 including a non-cash impairment charges of $209 million related to their FCC licenses values in the quarter. Total revenue for the quarter was down 1.1%, which excluding political revenue would have been up 2.8% for the quarter.
iHeart notes that its Digital Audio Group revenue was $342 million up 14% from last year, with podcast revenue was up 22% to $140 million, and digital revenue excluding podcasts was up 8% to $202 million. The company noted that growth was “driven primarily by continuing increases in demand for digital and podcast advertising, as well as increased non-cash trade revenue resulting from strategic marketing initiatives.”
The Multiplatform Group revenue, which includes its broadcast portfolio, decreased $28.3 million, or 4.6%, which they noted “primarily resulting from lower political revenues, as 2024 was a presidential election year, as well as a decrease in broadcast advertising in connection with continued uncertain market conditions, partially offset by an increase in non-cash trade revenue resulting from strategic marketing initiatives. Audio & Media Services revenue decreased $23.4 million, or 26.0%, primarily as a result of lower political revenues at Katz Media, as 2024 was a presidential election year.”
iHeartMedia Chairman/CEO Bob Pittman stated, “We’re pleased with our third quarter performance, generating Adjusted EBITDA of $205 million, slightly above the midpoint of our guidance range, and our consolidated revenue was down 1.1% compared to prior year, at the high end of our guidance, and up 2.8% excluding political revenue. And we continue to take important steps in the evolution of our company – last week we announced our new relationship with Amazon Ads, which will provide advertisers using Amazon DSP access to our vast audio portfolio, and just this morning we announced our new TikTok partnership, which will bring TikTok creators into iHeart’s ecosystem. We are committed to exploring new ways to unlock the value of our unparalleled assets, maximizing the unique position we occupy in the evolving media landscape, and creating innovative cross-platform opportunities to bring new products and services to our consumers and our advertising partners.”
President/COO/CFO Rich Bressler followed, “In the third quarter, the Digital Audio Group’s revenue was $342 million, up 13.5% year over year and above our guidance; Adjusted EBITDA was $130 million, up 30.3% year over year; and our Q3 Adjusted EBITDA margins were 38.1%. The Multiplatform Group’s revenue was $591 million, down 4.6% compared to prior year and in line with our guidance; Multiplatform Group Adjusted EBITDA was $119 million. We remain on track to generate the previously discussed $150 million net savings in 2025, and this quarter we took new actions that will generate $50 million of additional annual savings beginning in 2026. We run the company with a relentless focus on maximizing the efficiency of our operating structure using new technologies, like AI-powered tools and services, to make our teams and our operations more efficient.”
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