Boosted By Digital, iHeartRadio Q2 Revenues Hit $913 Million

Helped by its digital revenue business, iHeartRadio, the radio station and programming company, posted 2.4% higher overall revenues to $913.2 million for its second-quarter period.

The company says digital revenue grew 32.8% to $91.1 million, increased by $22.5 million from podcasting, primarily from its acquisition of Stuff Media in October 2018 -- as well as other digital revenue.

Following similar trends with TV stations, iHeartRadio’s broadcast radio — its still-dominant revenue business — slipped 1.4% to $561.2 million. That was due to an $8.1 million decrease in political revenue versus higher political ad results in the second-quarter 2018 period.

The company’s audio/media services revenue sank 4.7% to $58.5 million — also due to lower political advertising.

Taking out political advertising, overall company-wide revenue grew 3.9% to $908.4 million.

Network revenue business was up 6.4% to $156.3 million. Sponsorship and event business was 2.8% higher to $42.4 million.

iHeartMedia has more than 850 radio broadcast stations. Its content is available across more than 250 platforms and 2,000 devices.



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