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iHeartMedia Managed a 1% Revenue Gain in Q2 Thanks to Digital and Podcasts
iHeartMedia’s earnings in Q2 2024 show that revenue was up 1% thanks to digital and podcasts, rising to $929 million.
A spike in expenses — namely operating and selling, general and administrative — contributed to a 21% decline in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). “While the marketplace continues to be dynamic — with a changing outlook on interest rates, inflation trends, global uncertainty and rapidly evolving domestic political landscape — we continue to see strong momentum in our podcast business, our digital ex-podcast business and the sequential improvement of our multi-platform groups’ year over year revenue performance.” While iHeartMedia eked out a small improvement in the second quarter, two other radio companies that reported earnings in the last week continued their slides.
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