How are energy investors positioned?
NEW YORK - Audacy has expanded the reach of its broadcast radio portfolio through a new content distribution partnership with iHeartMedia (NASDAQ:IHRT), according to a press release issued Monday.
The agreement makes Audacy’s collection of over 240 radio brands and time-shifted podcasts available on the iHeartRadio app, iHeartMedia’s digital streaming service.
iHeartRadio users can now access Audacy’s content including 28 sports brands such as WFAN in New York, seven of America’s top eight most-listened-to all-news stations including 1010 WINS, and various music brands like KROQ in Los Angeles and 93XRT in Chicago.
Through this partnership, Audacy content will be accessible on more than 500 additional platforms and over 2,000 additional devices, including smart speakers, digital auto dashes, tablets, and gaming consoles.
"This is an exciting day for our industry as the addition of Audacy’s stations to iHeartRadio maximizes radio’s presence across the country," said Michael Biondo, President of Business Development and Strategic Partnerships at iHeartMedia.
Chris Oliviero, Chief Business Officer at Audacy, stated, "We believe in the power of being everywhere, and this partnership is a meaningful step in our strategy to ensure our iconic stations, talent and programming are available wherever and however audio is consumed."
iHeartMedia (NASDAQ:IHRT) describes itself as the leading audio media company in America, with 90% of Americans listening to iHeart broadcast radio monthly. The company generated $3.86 billion in revenue over the last twelve months, though InvestingPro analysis indicates it operates with a significant debt burden. The stock has shown resilience, rising nearly 58% over the past year despite challenging market conditions.For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 8 additional ProTips and a detailed Fair Value assessment, along with expert research reports covering what really matters for radio broadcasting stocks.
In other recent news, iHeartMedia reported its financial results for the first quarter of 2025, revealing a slight revenue increase of 1% year-over-year, reaching $807.1 million. Despite this modest growth, the company’s adjusted EBITDA remained flat at $105 million. The earnings exceeded analysts’ forecasts, which had anticipated revenue of $789.96 million, driven by strong performance in digital and podcast segments. Podcast revenue, in particular, grew by 28%, while non-podcast digital revenues increased by 8.7%. Goldman Sachs maintained a Neutral rating on iHeartMedia, raising the price target to $1.25 from $1.00, following the earnings report. However, the firm noted challenges in the advertising market, particularly among small and medium-sized businesses, and revised its 2025 revenue and Adjusted EBITDA projections slightly downward. Additionally, iHeartMedia held its 2025 Annual Meeting of Stockholders, where shareholders approved the election of eight directors and the appointment of Ernst & Young LLP as the independent auditor.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.