iHeartMedia Says It Accounts for 40% of All US-Based Radio Advertising Spend

iHeartMedia now commands a 40% share of advertising revenue and markets in the United States, as measured by Miller Kaplan. That’s according to the radio conglomerate’s Q1 2025 earnings call with investors.

The milestone underscores iHeartMedia’s continued ability to outpace competitors and leverage its vast audience reach, robust ad tech investments, and the largest sales force in audio to capture the growing slice of advertising revenue.

For Q1 2025, iHeartMedia reported consolidated revenue of $807 million, reflecting a 1% increase year-over-year. Excluding political advertising, revenue growth was even stronger at 1.8%. The company’s adjusted EBITDA remained stable at $105 million, while it’s GAAP operating loss narrowed to $25 million—down from $35 million in the same period last year. iHeartMedia continues to operate with significant debt and posted negative free cash flow of $81 million for the quarter.

Digital revenues surged 16% to $277 million, with podcast revenue leading the way—up 28% year-over-year. Non-podcast digital revenue also grew by 9%. This segment’s adjusted EBITDA climbed 28%, delivering a margin of 31.4%.

“Podcasting is an adjacent business to radio, so we have a natural advantage,” CEO Bob Pittman told investors. “Not only do we have an advantage in terms of creation and having the resources to do it, but we also have this incredible promotional vehicle called broadcast radio.”

CFO Rich Bressler agreed with that assessment, adding “our biggest advertisers have only recently really started to discover podcasting.”

Meanwhile, the multi-platform group segment which includes traditional radio, networks, and events saw revenue decline 4.2% to $473 million—primarily due to an ongoing softening of broadcast advertising amid uncertain market conditions. The company’s Premiere Broadcast Networks are up 2.1% year-over-year, signaling renewed strength among national advertisers.

For its Audio & Media Services segment, revenue dropped 14.2% to $59 million, with most of the decline attributed to Katz Television and lower political advertising. The Katz Television subsidiary represents over 400 local television stations across the country, acting as a liaison between stations and national advertisers.