Company: IHETW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001400891-25-000046
Chunk: 108

Company: iHeartMedia, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 108
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-year. Revenue from Sponsorship and Events decreased $1.8 million, or 2.8%, year-over-year. 

Operating expenses decreased $36.7 million, driven primarily by a decrease in employee compensation cost due to our modernization initiatives, as well as lower sales commissions related to the decline in broadcast revenue, partially offset by an increase in non-cash trade and barter expense. 

Digital Audio Group Results

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,%20252024Change20252024ChangeRevenue$323,856$285,61413.4 %$601,143$524,58214.6 %Operating expenses(1)216,246193,74411.6 %406,450364,58511.5 %Segment Adjusted EBITDA$107,610$91,87017.1 %$194,693$159,99721.7 %Segment Adjusted EBITDA margin33.2 %32.2 %32.4 %30.5 %

(1)Operating expenses consist of Direct operating expenses and Selling, general and administrative expenses, excluding Restructuring expenses. 

Three months

Revenue from our Digital Audio Group increased $38.2 million compared to the prior year, driven by Podcast revenue which increased by $29.8 million, or 28.5% year-over-year, primarily due to a continued increase in demand for podcasting from advertisers, and Digital, excluding Podcast revenue, which increased $8.5 million, or 4.7% year-over-year, primarily due to an increase in demand for digital advertising. 

Operating expenses increased $22.5 million, primarily driven by higher variable content costs, including higher podcast profit share and third-party digital costs related to the increase in revenues.

Six months

Revenue from our Digital Audio Group increased $76.6 million compared to the prior year, driven by Podcast revenue which increased by $55.2 million, or 28.3% year-over-year, primarily due to a continued increase in demand for podcasting from advertisers, and Digital, excluding Podcast revenue, which increased $21.4 million, or 6.5% year-over-year, primarily due to an increase in demand for digital advertising. 

Operating expenses increased $41.9 million, primarily driven by higher variable content costs, including higher podcast profit share and third-party digital costs related to the increase in revenues.

Audio & Media Services Group