iHeartMedia names Lisa Coffey as Chief Business Officer

NEW YORK - iHeartMedia (NASDAQ:IHRT) has appointed Lisa Coffey to the newly created position of Chief Business Officer, the company announced Monday. The appointment comes at a crucial time for the media giant, which generated $3.86 billion in revenue over the last twelve months. According to InvestingPro data, the company currently operates with a significant debt burden and faces profitability challenges.

In her new role, Coffey will oversee the development and implementation of iHeartMedia’s advanced advertising products and platforms, including programmatic solutions for broadcast radio. She will also lead efforts to digitize and scale an addressable audio ecosystem, reporting directly to Chairman and CEO Bob Pittman and President, COO and CFO Rich Bressler. This digital transformation initiative is particularly important given the company’s current market capitalization of $225.4 million and overall weak financial health score, as revealed in the comprehensive InvestingPro Research Report.

Coffey joins iHeartMedia from LoopMe, where she served as Global Chief Revenue Officer. Her previous experience includes leadership positions at Amazon, where she headed Business Development for Amazon Hub and founded the agency team that introduced Amazon Advertising to the U.S. marketplace.

"We’ve been working to transform our broadcast advertising media to a more digital-like product, including strong data, attribution and targeting capabilities," said Pittman in the press release statement. "Lisa’s unique skills and experience will enable us to take the critical next step in bringing this to market."

Coffey expressed enthusiasm about the opportunity to modernize audio advertising at iHeartMedia. "Because broadcast radio has 3 to 4 times the reach of any streaming audio service, and is over two thirds of the total daily audio usage by consumers, I look forward to launching a platform that makes those audiences addressable and scalable for the advertising and marketing community," she stated.

According to the company, iHeartMedia reaches 90% of Americans through its broadcast radio assets each month. The company describes itself as the largest podcast publisher according to Podtrac metrics. Despite this impressive reach, InvestingPro analysis indicates the company faces significant financial challenges, with a total debt of $5.8 billion and volatile stock performance. InvestingPro subscribers have access to over 10 additional key insights about iHeartMedia’s financial position and growth prospects.

In other recent news, iHeartMedia reported its financial results for the first quarter of 2025, noting a slight 1% year-over-year increase in consolidated revenue and stable adjusted EBITDA. Despite this modest rise, Goldman Sachs maintained a Neutral rating on the stock, raising the price target to $1.25 due to strong podcasting revenues. BofA Securities also maintained a Neutral rating but increased the price target to $1.90, citing a stable advertising market. However, Goldman Sachs highlighted challenges such as a 2% decline in advertising trends in April, including political ads, and expressed concerns about meeting financial guidance without improvements in the macroeconomic environment.

In other developments, iHeartMedia shareholders approved the election of eight directors and ratified Ernst & Young LLP as the independent auditor for the fiscal year ending December 31, 2025. Additionally, iHeartMedia expanded its digital reach by partnering with Audacy, allowing over 240 Audacy radio brands and podcasts to be available on the iHeartRadio app. These recent developments reflect iHeartMedia’s strategic moves to enhance its digital content distribution and navigate the current advertising landscape.

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