Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 132

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 132
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,(In thousands)202420232022Consolidated:  Trade and barter revenues$261,075 $255,603 $188,357   Trade and barter expenses260,464 234,984 188,161 In addition to the trade and barter revenue in the table above, the Company recognized barter revenue of $51.9 million, $33.3 million, and $40.7 million for the years ended December 31, 2024, 2023, and 2022, respectively, in connection with investments made in companies in exchange for advertising services. Deferred RevenueThe following tables show the Company’s deferred revenue balance from contracts with customers:Year Ended December 31,(In thousands)202420232022Deferred revenue from contracts with customers:  Beginning balance(1)$181,899 $157,910 $161,114     Revenue recognized, included in beginning balance(135,442)(112,224)(117,947)    Additions, net of revenue recognized during period, and other127,309136,213114,743  Ending balance$173,766 $181,899 $157,910 (1)Deferred revenue from contracts with customers, which excludes other sources of deferred revenue that are not related to contracts with customers, is included within deferred revenue and other long-term liabilities on the Consolidated Balance Sheets, depending upon when revenue is expected to be recognized. The Company’s contracts with customers generally have a term of one year or less. However, as of December 31, 2024, the Company expects to recognize $232.9 million of revenue in future periods for remaining performance obligations from current contracts with customers that have an original expected duration of greater than one year, with substantially all of this amount to be recognized over the next five years. Commissions related to the Company’s media representation business have been excluded from this amount as they are contingent upon future sales.

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IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 3 – LEASES

In September 2023, the Company completed the sale of 122 of our broadcast tower sites and related assets for $45.3 million and entered into operating leases for the use of space on 121 of the broadcast tower sites and related assets sold. The Company realized a net loss of $3.2 million on the sale,