iHeartMedia Q4 Revenue Reaches $1.127B, Exceeds Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 02 2026
0mins
Should l Buy IHRT?
Reports Q4 revenue $1.127B, consensus $1.1B. "We're pleased with our fourth quarter results, generating Adjusted EBITDA of $220 million, at the midpoint of our previously provided guidance range, and our consolidated revenue was $1.1 billion, up 0.8% compared to prior year and above our guidance; excluding the impact of political, our consolidated revenue was up 7.7%," said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. "Our podcast momentum continues, growing 24.5% compared to prior year, above our guidance of 'up in the mid-teens,' and we have the number one audience in podcasting as measured by both Podtrac and Triton. In 2026 a major goal of ours is to return the Multiplatform Group to segment Adjusted EBITDA growth and we continue to invest in our broadcast programmatic efforts and working with partners like Amazon DSP, Yahoo! DSP and other to include our broadcast radio inventory on their programmatic platforms. We also see some of our recent announcements as validation of the power of broadcast radio, with companies like Netflix and TikTok coming to partner with us and our broadcast radio assets."
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Analyst Views on IHRT
Wall Street analysts forecast IHRT stock price to rise
4 Analyst Rating
0 Buy
2 Hold
2 Sell
Moderate Sell
Current: 3.090
Low
3.50
Averages
4.25
High
5.00
Current: 3.090
Low
3.50
Averages
4.25
High
5.00
About IHRT
iHeartMedia, Inc. is an audio company in the United States. The Company's segments include Multiplatform Group, Digital Audio Group and Audio & Media Services Group. The Multiplatform Group segment includes its Markets Group, which includes its 860+ broadcast radio stations in approximately 160 markets; its Events business, which includes both live and virtual events; its SmartAudio suite of data targeting and attribution products; Premiere Networks, which includes the Premiere Networks syndication business and Total Traffic and Weather Network; Black Information Network (BIN) and its National Sales Organization. The Digital Audio Group segment includes all of the Company's digital businesses, including podcasting, the iHeartRadio digital service, its digital advertising technology companies, its websites, newsletters and digital services and programs and its audio social media footprint. The Audio & Media Services Group segment includes Katz Media Group, and RCS Sound Software.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Security Solutions: Spin.AI's offerings integrate SaaS security posture management, ransomware detection and response, and data loss prevention, providing real-time visibility and an industry-leading two-hour ransomware recovery service level agreement, significantly enhancing enterprises' ability to respond to security threats.
- Market Demand: As enterprises increasingly rely on cloud platforms, Spin.AI addresses the shortcomings of existing security tools in tackling modern threat environments, helping organizations maintain security against data leaks and configuration risks while ensuring critical data remains recoverable.
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- Strong Financial Performance: iHeartMedia reported Q4 2025 adjusted EBITDA of $220 million, aligning with guidance despite a 10.7% year-over-year decline, showcasing resilience in the advertising market during a non-political year.
- Digital Audio Growth: The Digital Audio Group achieved Q4 revenue of $387 million, up 14.1%, with podcast revenue surging 24.5% to $174 million, exceeding expectations and indicating robust momentum in emerging media sectors.
- Cost Savings Initiatives: The company is implementing $50 million in new in-year cost savings expected to take effect in Q2 2026, alongside previously announced $50 million reductions, bringing total savings to $100 million for 2026, enhancing financial flexibility.
- Optimistic Outlook: iHeartMedia anticipates approximately $100 million in adjusted EBITDA for Q1 2026, with revenue projected to grow high single digits year-over-year, reflecting ongoing growth potential in digital audio and podcasting, particularly in the upcoming midterm election year.
See More
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- Revenue Performance: iHeartMedia reported Q4 revenue of $1.12 billion, flat year-over-year, exceeding expectations by $20 million, indicating resilience in maintaining revenue despite a challenging market environment.
- Operating Income Decline: GAAP operating income fell to $86 million, down 18% from $105 million in Q4 2024, reflecting pressures on cost control and profitability, which may impact investor confidence moving forward.
- Digital Audio Growth: The Digital Audio Group generated $387 million in revenue, up 14%, with podcast revenue increasing by 24%, demonstrating significant progress in the company's digital transformation and enhancing its competitive position in the market.
- Future Outlook: The company expects approximately $800 million in adjusted EBITDA for 2026 and around $200 million in free cash flow, indicating a positive outlook on cost savings and revenue growth, which could provide long-term returns for shareholders.
See More
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- Revenue Expectations: Analysts project Q4 revenue to be $1.1 billion, down 1.8% year-over-year, highlighting the challenges the company faces in a highly competitive digital media landscape.
- Stock Price Fluctuation: Despite a nearly 100% increase in stock price over the past year, market confidence in iHeartMedia's future growth has waned, leading Goldman Sachs to downgrade its rating to
See More
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- Regulatory Approval Outlook: Analysts suggest that Paramount's acquisition is likely to face a smoother regulatory path compared to Netflix's proposal, although it still encounters a complex political and market landscape that could affect the deal's timing and conditions.
- Breakup Fee Arrangements: Paramount has committed to a $7 billion breakup fee in case of regulatory rejection, alongside covering the $2.8 billion fee Warner Bros. would owe Netflix, indicating its serious commitment to the transaction's success.
- Market Competition Impact: The merger between Paramount and Warner Bros. could lead to increased market concentration, with experts warning that this may reduce consumer choices and raise prices, particularly in the streaming and cable sectors, potentially triggering stricter regulatory scrutiny.
See More
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- Arabic Podcast Debut: iHeartMedia will unveil its first Arabic podcast slate at the 2026 Web Summit Qatar, attracting over 30,000 tech and business leaders, marking a strategic expansion into the Arabic market.
- Live Recording Facilities: The event will feature an iHeartPodcasts recording studio, allowing top podcast talent to record episodes live, enhancing iHeart's influence and competitiveness in the global podcasting arena.
- Creative Economy Boost: The Qatari government states that this partnership aims to strengthen the creative economy and support the growth of digital industries, further solidifying Qatar's position as a global hub for media and content creation.
- Industry Leaders Participation: iHeart executives and renowned podcast talents like Questlove and Steven Bartlett will participate in various events, fostering knowledge exchange and innovation to drive the future of the podcast industry.
See More
