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Dec 31, 2020
iHeartMedia Q4 2020 Earnings Report
Reported strong sequential improvement with digital growth and political advertising benefiting Q4 revenue.
Key Takeaways
iHeartMedia, Inc. reported a 9% YoY decrease in Q4 revenue to $936 million, but showed strong digital growth of 53% YoY, including a 100% increase in podcast revenue. The company's GAAP operating income was $113 million, and adjusted EBITDA was $265 million. iHeartMedia generated cash flows from operating activities of $80 million and free cash flow of $53 million in Q4.
Q4 Revenue was $936 million, down 9% YoY, but improved from previous quarters.
Digital revenue grew strongly by 53% YoY, with podcast revenue up 100% YoY.
GAAP Operating income was $113 million, compared to $165 million in the prior-year.
Adjusted EBITDA was $265 million, compared to $306 million in the prior year.
iHeartMedia
iHeartMedia
Forward Guidance
The company expects continued recovery into 2021 and expects that the Digital Audio segment will continue to grow at a higher rate than our other segments and will therefore become a larger part of our business.