Company: IHETW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001400891-25-000046
Chunk: 39

Company: iHeartMedia, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 39
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.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 Results

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,%20252024Change20252024ChangeRevenue$67,736$70,082(3.3)%$127,059$139,250(8.8)%Operating expenses(1)44,01546,233(4.8)%87,54091,706(4.5)%Segment Adjusted EBITDA$23,721$23,849(0.5)%$39,519$47,544(16.9)%Segment Adjusted EBITDA margin35.0 %34.0 %31.1 %34.1 %

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

26

Three months

Revenue from our Audio & Media Services Group decreased $2.3 million compared to the prior year period primarily due to a decrease in broadcast advertising in connection with uncertain market conditions, as well as lower political revenues as 2024 was a presidential election year, partially offset by increased demand for digital advertising.

Operating expenses decreased $2.2 million primarily due to a decrease in employee compensation cost due to our modernization initiatives.

Six months

Revenue from our Audio & Media Services Group decreased $12.2 million compared to the prior year period primarily due to contract termination fees earned by Katz Media in the first quarter of 2024, a decrease in broadcast advertising in connection with uncertain market conditions, as well as lower political revenues as 2024 was a presidential election year, partially offset by increased demand for digital advertising.

Operating expenses decreased $4.2 million primarily due to a decrease in employee compensation cost due to our modernization initiatives.

Reconciliation of Operating income (loss) to EBITDA and Adjusted EBITDA

(In thousands)Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Operating income (loss)$35,370