iHeartMedia, Bloomberg Media partner for slate of originial podcasts » 10:0105/1705/17/21
Bloomberg Media and…
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ViacomCBS announces 'new and expanded' podcast partnership with iHeartMedia » 14:3005/1305/13/21
ViacomCBS (VIAC) announced an expanded podcast footprint, "featuring brand-new and returning hit series that build on beloved franchises and iconic IP from Awesomeness, BET, CBS News, CBS Studios, CBS Sports, Comedy Central, Nickelodeon, Noggin, MTV Entertainment Group, Paramount Network and SHOWTIME Sports." The company said: "This robust slate will super serve consumers across comedy, news, true crime, sports, kids, entertainment, and music, reinforcing the company's strategy to create premium content and experiences for audiences worldwide. Since unveiling the company's unified podcast slate at the IAB's Podcast Upfront in September 2020, ViacomCBS has seen a nearly 14% increase in downloads year-over-year and is on track to produce over 120 shows, including more than 20 podcast premieres, this year alone." ViacomCBS also introduced a new and expanded partnership with iHeartMedia, where Nickelodeon will exclusively create podcasts from two of the brand's franchises: Avatar: The Last Airbender and The Legend of Korra and SpongeBob SquarePants. "Additionally, ViacomCBS announced BET's podcasting initiatives, emphasizing the massive demand for content from leading Black creators and reflecting the tremendous relevance, influence, and popularity of Black culture across the general entertainment ecosystem," the company said.
iHeartMedia and Catalina partner for podcast measurement and sales attribution » 08:0705/1305/13/21
iHeartMedia has formed a…
iHeartMedia has formed a partnership with Catalina, provider of shopper intelligence and omni-channel media solutions, to measure and attribute the impact of podcast advertising on offline sales in physical stores, which continue to represent the majority of CPG purchases. In addition, as part of this data partnership Catalina will provide iHeartMedia with audiences and measurement services within iHeartMedia's SmartAudio platform, for CPG ad campaigns that air on the latter's linear and streaming radio programming.
iHeartMedia price target raised to $29 from $25 at Barrington » 10:3105/1205/12/21
Barrington analyst James…
Barrington analyst James Goss raised the firm's price target on iHeartMedia to $29 from $25 and keeps an Outperform rating on the shares post the Q1 results. Podcasting adds a "growth element" to the company, Goss tells investors in a research note.
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JPMorgan upgrades iHeartMedia to Overweight on digital growth » 06:1205/1005/10/21
JPMorgan analyst Sebastiano Petti upgraded iHeartMedia to Overweight from Neutral with a price target of $29, up from $17. The company reported "strong" Q1 results driven by digital revenue growth of 70% with total company revenue just 9.5% below the prior year period despite lingering headwinds from the pandemic, Petti tells investors in a research note. The analyst says "strong" podcasting growth and digital audio advertising demand position iHeart's digital audio segment well for continued growth in 2021 and beyond.
iHeartMedia upgraded to Overweight from Neutral at JPMorgan » 04:3905/1005/10/21
JPMorgan analyst Sebastiano Petti upgraded iHeartMedia to Overweight from Neutral with a $29 price target.
iHeartMedia 'confident' will be back to 2019 adjusted EBITDA levels by end 2021 » 16:3405/0605/06/21
"Our ability to…
"Our ability to adapt and innovate, as well as our strategic allocation of capital, during the COVID-19 pandemic have set the stage for strong growth in 2021. Our cost management, investments in key areas of growth, and focus on our core-competencies helped us to achieve Adjusted EBITDA of $102 million in the first quarter, and we remain confident that we will be back to 2019 Adjusted EBITDA levels by the end of 2021," said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer of iHeartMedia.
iHeartMedia reports Q1 revenue $707M, consensus $689.29M » 16:3305/0605/06/21
Reports Q1 GAAP operating…
Reports Q1 GAAP operating loss of $76M, compared to $1.7B in prior-year, which included $1.7B of impairment charges. "The first quarter outperformed our expectations on all financial metrics as the Company continues its steady recovery from the COVID-19 downturn, which is not just a continuation of the positive trends we've seen across the business - we believe it's a validation of our long-term multiplatform product and revenue strategy and the investments we have made in growth areas like podcasting, ad tech and the continued expansion of broadcast radio on digital devices. As a company we continue to prioritize identifying new opportunities across the audio, advertising, and data analytics sectors to expand our Total Addressable Market from just the $15B of Radio TAM to include the $160B of Digital TAM, providing us with new revenue opportunities for meaningful and sustainable growth for all our operating segments," said Bob Pittman, Chairman and CEO of iHeartMedia.
iHeartMedia launches private podcast marketplace for brands » 09:2105/0505/05/21
iHeartMedia announced the launch of a new, first-of-its-kind Private Marketplace. The new Private Marketplace will provide advertisers with programmatic buying access to distribute their marketing to audiences across the most diverse and comprehensive library of shows in the world from the iHeartPodcast Network - the No. 1 podcast publisher globally - which has more than 30 million US monthly uniques and 257 million global downloads and streams.This new technology allows brand advertisers to create their own unique, tailored marketplaces -- composed of their specific audience targets and pricing, to dial up and down across each year as their marketing needs require -- across iHeart's mass reach podcast network,
iHeartMedia resumed with a Buy at B. Riley » 12:3504/2004/20/21
B. Riley analyst Daniel…
B. Riley analyst Daniel Day resumed coverage of iHeartMedia with a Buy rating and $28 price target. The "impressive growth in digital audio listening is a bigger opportunity than it is a threat for radio broadcasters," Day tells investors in a research note. For iHeartMedia, the analyst had a "relatively positive" outlook on the company's ability to evolve its businesses over time to the future of audio media consumption. He's confident that the company will continue its "years-long run of outperformance relative to peers" on advertising revenue growth and EBITDA margin.