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Dec 31, 2023
iHeartMedia Q4 2023 Earnings Report
iHeartMedia's Q4 2023 financial performance was reported, showing a revenue decrease but with digital audio group achieving record EBITDA and margin.
Key Takeaways
iHeartMedia reported a Q4 revenue of $1,067 million, a 5.2% decrease compared to the previous year. Excluding political revenue, the revenue was flat. The Digital Audio Group saw a 6% increase in revenue, while the Multiplatform Group experienced a 7% decrease. The company's consolidated Adjusted EBITDA was $208 million.
Q4 Revenue was $1,067 million, down 5.2% year-over-year, but flat excluding political revenue.
GAAP Operating income was $80 million, compared to $173 million in Q4 2022.
Consolidated Adjusted EBITDA was $208 million, within the previously disclosed guidance range.
Digital Audio Group Revenue increased by 6%, with Podcast Revenue up 17%.
Revenue by Segment
Forward Guidance
iHeartMedia expects Q1 Consolidated Revenue to be flat to down 2% and Consolidated Adjusted EBITDA to be between $100 million and $110 million.
Positive Outlook
- Q1 Consolidated Revenue expected to be flat to down 2%.
- Q1 Consolidated Adjusted EBITDA expected to be $100 million to $110 million, up from $93 million in prior year.
- Remain committed to long term target of approximately 4x Net Debt to Adjusted EBITDA
- Company returns to growth mode
- Multiplatform Group performance improve quarter by quarter throughout the year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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