Q3 2025 iHeartMedia Inc Earnings Call Transcript
Key Points
- iHeartMedia Inc (IHRT) generated adjusted EBITDA of $205 million, slightly above the midpoint of their guidance range.
- The Digital Audio Group's revenue increased by 13.5% year-over-year, surpassing guidance expectations.
- Podcast revenue grew by 22.5% compared to the prior year, maintaining strong growth in the podcasting sector.
- A new partnership with TikTok is expected to enhance creator engagement and open new monetization opportunities.
- The company is on track to achieve $150 million in net savings for 2025, with an additional $50 million in savings expected in 2026.
- Consolidated revenue was down 1.1% compared to the prior year quarter, indicating a slight decline.
- The Multi-Platform Group's revenue decreased by 4.6% year-over-year, reflecting challenges in this segment.
- The Audio & Media Services Group's revenue dropped by 26% year-over-year, largely due to the absence of political advertising.
- The company reported a GAAP operating loss of $116 million, impacted by a $209 million impairment charge related to FCC licenses.
- Free cash flow was negative $33 million for the quarter, a significant decline from $73 million in the prior year quarter.
Good afternoon, and welcome to iHeartMedia's third-quarter 2025 earnings call. (Operator Instructions) As a reminder, this conference call is being recorded.
I would now like to turn the call over to Mike McGuinness, Head of Investor Relations. Thank you. Please go ahead.
Good afternoon, everyone, and thank you for taking the time to join us for our third quarter 2025 earnings call. Joining me for today's discussion are Bob Pittman, our Chairman and CEO and Rich Bressler, our President, COO and CFO. At the conclusion of our prepared remarks, management will take your questions. In addition to our press release, we have an earnings presentation available on our website that you can use to follow along with our remarks.
Please note that this call may include forward-looking statements regarding our financial performance and operating results. These statements are based on
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