iHeartMedia reported mixed Q4 2025 results with slight consolidated revenue growth driven by its Digital Audio Group, while the Multiplatform Group saw a decline. The company is focusing on cost savings and returning the Multiplatform Group to Adjusted EBITDA growth in 2026, supported by strong podcast momentum and programmatic advertising initiatives.
Digital Audio Group revenue increased 14.1% YoY to $387 million, driven by strong podcast growth.
positivePodcast revenue grew 24.5% YoY to $174 million, exceeding guidance.
positiveFree Cash Flow (including net proceeds from real estate sales) was $158 million, demonstrating strong conversion of Adjusted EBITDA.
positiveFull year 2025 GAAP Operating loss improved significantly to $21 million from $763 million in 2024, primarily due to lower impairment charges.
positiveConsolidated revenue increased only 0.8% YoY to $1,127 million, and down 2.8% for the Multiplatform Group.
attentionGAAP Operating income decreased 18.0% YoY to $86 million.
negativeConsolidated Adjusted EBITDA decreased 10.5% YoY to $220 million.
negativeMultiplatform Group Adjusted EBITDA decreased 14.2% YoY to $130 million, and its margin compressed to 19.4% from 21.9%.
negativeAudio & Media Services Group revenue decreased 19.3% YoY to $79 million, and its Adjusted EBITDA margin declined to 39.7% from 49.8%.
negativeFull year 2025 Consolidated Adjusted EBITDA decreased 2.8% YoY to $686 million.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Multiplatform Group | N/A | — | — | — |
Digital Audio Group | N/A | — | — | — |
Audio & Media Services Group | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Pleased with fourth quarter results, generating Adjusted EBITDA of $220 million at the midpoint of guidance.
Podcast momentum continues, growing 24.5% YoY, above guidance.
Major goal for 2026 is to return the Multiplatform Group to segment Adjusted EBITDA growth.
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