iHM To Remaining Staffers: We're Committed To Innovation

In a holiday message this week to staffers, CEO Bob Pittman and President/COO/CFO Rich Bressler expressed optimism for the upcoming year, emphasizing iHeartMedia's commitment to leadership and innovation. 

They highlighted that the company now has more radio listeners than 20 years ago and is the number one podcast publisher in the rapidly growing new media sector.

Pittman and Bressler reiterated their strategy of using technology to "break down silos" and broaden managers' responsibilities, aiming to enhance operational capabilities and ease of doing business with iHeartMedia. Despite facing criticism for recent layoffs, which are part of cost-cutting measures projected to save $150 million, they stressed the importance of adaptability and acting faster than competitors to maintain leadership in the audio industry.

The message also mentioned the recent launch of a new version of the iHeartRadio app, designed after the in-car radio experience, and a refinancing initiative aimed at reducing overall debt and extending payment windows to 2029 and beyond. Additionally, starting January 1, iHeartMedia will reinstate its 401(k) matching program for eligible employees.

Pittman and Bressler concluded by expressing gratitude for remaining employees' contributions and dedication, which they see as key to the company's success in 2025.