iHM Reports Q2 Revenue Increased 4 Percent

iHeartMedia, Inc. Thursday July 30, 2015 reported financial results for the second quarter ended June 30, 2015.

“We continue to invest in our capabilities across both iHeartMedia and outdoor to realize the full value of our multi-platform assets. With no significant debt maturities until 2018, we can continue focusing on growing the top and bottom lines across our business segments.”

“We continue to differentiate ourselves in the marketplace with our unmatched portfolio of products, media platforms, content and personalities -- all built on the power of broadcast radio and out of home -- which give us the most powerful marketing vehicles available today,” Chairman and Chief Executive Officer Bob Pittman said.

Pittman, Bressler

“We are building on the power of sound and social, the power of outdoor and the emerging power of digital to create even stronger marketing solutions for our partners, while providing the most live content and events to the industry’s most engaged audiences, wherever they are and on whatever device they want to use. We continue to find creative ways to use iHeartMedia’s cross-platform assets to redefine the future of consumer media and entertainment.”

“We’re pleased with the revenue and OIBDAN growth we achieved this quarter,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “We continue to invest in our capabilities across both iHeartMedia and outdoor to realize the full value of our multi-platform assets. With no significant debt maturities until 2018, we can continue focusing on growing the top and bottom lines across our business segments."

The Company’s key financial highlights for the second quarter 2015 include:

• Consolidated revenues increased 2% to $1.7 billion, excluding the unfavorable impact from movements in foreign exchange rates. On a reported basis, consolidated revenue decreased 2% to $1.6 billion.
• iHeartMedia revenues increased $34 million, or 4%.
• Americas outdoor revenues increased $2 million, or 1%, excluding the unfavorable impact from movements in foreign exchange rates. On a reported basis, revenues decreased 3 million, or 1%.
• International outdoor revenues increased $9 million, or 2%, excluding the unfavorable impact from movements in foreign exchange rates. On a reported basis, revenues decreased $55 million, or 13%.

The Company’s recent key non-financial highlights include:

• Surpassed 71 million iHeartRadio registered users, as of July 2015, growing 40% year-over-year. iHeartRadio’s total listening hours were up 23% over the second quarter of 2014, while downloads and upgrades increased to more than 677 million. Mobile was also higher, representing 60% of iHeartRadio’s total listening hours during the second quarter of 2015. Its social media footprint also continues to expand, reaching over 75 million users across its network.
• Extended and expanded partnership with Ryan Seacrest, the nationally-known media and entertainment entrepreneur, radio personality, television host and producer. He will continue to be a key advisor to iHeartMedia and will provide input into all of the Company’s major events and initiatives as well as developing new ways to connect advertisers closely to consumers.
• Signed a multi-year agreement to simulcast the iHeartRadio Music Awards live on Turner Broadcasting’s TBS, TNT and truTV networks.