Q4 2025 iHeartMedia Inc Earnings Call Transcript
Key Points
- iHeartMedia Inc (IHRT) reported fourth-quarter 2025 consolidated revenue of $1.1 billion, up 0.8% compared to the prior year quarter, exceeding guidance.
- The Digital Audio Group's revenue increased by 14.1% year-over-year, with podcast revenue growing 24.5%, surpassing expectations.
- The company achieved adjusted EBITDA of $220 million, within the guidance range of $200 million to $240 million.
- iHeartMedia Inc (IHRT) is implementing $100 million in cost savings for 2026, building on $150 million of net cost savings achieved in 2025.
- The company expects significant growth in programmatic revenue, projecting $200 million in 2026, a 50% increase from 2025.
- Fourth-quarter adjusted EBITDA of $220 million was down from $246 million in the prior year, impacted by the absence of political advertising revenue.
- The Multiplatform Group's revenue declined by 2.8% year-over-year, with adjusted EBITDA down 14.2% due to reduced political advertising revenue.
- Consolidated direct operating expenses increased by 2.4% in the quarter, driven by higher variable content costs.
- The company's net debt remains high at approximately $4.5 billion, with a net debt-to-adjusted-EBITDA ratio of 6.6 times.
- The Audio & Media Services Group's revenue fell by 19.3% year-over-year, primarily due to the absence of political advertising revenue.
Good afternoon, and welcome to iHeartMedia's fourth-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 Andrey Hart, Senior Vice President of Investor Relations. Thank you. Please go ahead.
Good afternoon, everyone, and thank you for taking the time to join us for our fourth-quarter 2025 earnings call. Joining me for today's discussion are Bob Pittman, our Chairman and CEO; and Rich Bressler, our President and COO; and Mike McGuinness, our 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 management's current expectations, and
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