iHeartMedia’s 2023 Third Quarter Revenue Falls 3.6%
iHeartMedia released its operating results for the third quarter of 2023 and reports revenue of $953 million, a decrease of 3.6% over the same period in 2022. The company reports operating income of $69 million compared to the operating loss of $211 million it reported in Q3 of 2022. iHeartMedia reports a net loss of $9 million during Q3 2023, down significantly from the net loss of $310 million it reported in Q3 2022. The company breaks down revenue into three segments – the Multiplatform Group (broadcast radio, networks, and sponsorship & events), the Digital Audio Group (digital excluding podcast, and
podcast), and Audio & Media Services Group. In the Multiplatform Group, broadcast radio revenue was $455 million, down 6.1% year-over-year, and networks revenue was $116 million, a decline of 8.6%. In the Digital Audio Group, digital excluding podcast revenue was $165 million, an increase of 1.1%, while podcast revenue was $103 million, an increase of 12.5%, year-over-year. iHeartMedia chairman and CEO Bob Pittman says, “We’re pleased to report that our third quarter results were at the high end of our Adjusted EBITDA and Revenue guidance ranges. Our Digital Audio Group’s performance reflects the strong flow-through characteristics of the business and Podcasting continues to be a strong growth engine for the Company; additionally, while the Multiplatform Group does continue to be impacted by advertising industry uncertainty, we’ve seen sequential gradual quarter to quarter improvement throughout the year and we remain confident that the Multiplatform Group will be an additional growth engine for the company as the advertising marketplace recovers.”
Detroit’s News/Talk Radio Station.” The station features local host Justin Barclay in morning drive with Premiere Networks syndicated shows including “The Glenn Beck Program,” “The Clay Travis & Buck Sexton Show,” “The Sean Hannity Show,” “The Jesse Kelly Show,” Key Networks’ “The Bill O’Reilly Show” and Red Apple Media’s “The Other Side of Midnight with Frank Morano.” The station is promoting itself with a heavy media schedule on iHeartMedia’s adult contemporary WNIC-FM, Detroit voiced by Sean Hannity. Adell Media CEO Kevin Adell says, “910 AM Superstation is living up to its name. The audience growth we’ve seen since launching our conservative news/talk lineup in September has been exponential, and we’re looking forward to reaching even more listeners on 104.3 HD2.” 
The third of four rounds of ratings data from Nielsen Audio’s October 2023 PPM survey has been released for 12 markets including Portland, Charlotte, San Antonio, Sacramento, Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, and Columbus. The survey period covered September 14 through October 11. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Portland, Alpha Media’s news/talk KXL-FM rises two-tenths to finish with a 6.9 share (weekly, 6+ AHQ share) that keeps it locked in the #3 rank, while iHeartMedia’s news/talk KEX-AM, adds three-tenths for a 1.7 share good for the #21 rank. In San Antonio, iHeartMedia’s news/talk WOAI-AM tacks on two-tenths for a 2.8 share finish that lifts it to the #13 rank, while Alpha Media’s news/talk KTSA-AM rises four-tenths to a 2.6 share and climbs to the #15 rank. In Salt Lake City, Bonneville’s news/talk KSL-AM/FM rockets up 1.7 shares for a 6.9 share that puts it in the #2 rank, while iHeartMedia’s news/talk KNRS-AM/FM plunges 1.1 shares to a 2.9 share that puts it in the #15 rank. It should be noted that Nielsen released updated information for the Nassau-Suffolk (Long Island) and Riverside markets and that is now reflected in the first-round report. 
programming includes Premiere Networks’ “The Clay Travis & Buck Sexton Show” and “The Jesse Kelly Show,” as well as programming from Westwood One. iHeartMedia SVP of programming Jason Carr says, “We’re excited to bring ‘The Patriot’ to Vero Beach with local talk and news from ‘The Brian Mudd Show’ and some of the biggest names in national talk radio. ‘The Patriot’ will super-serve the growing Vero Beach community, with the most up-to-date news, weather and sports updates, including sources like FOX News and the Florida News Network.”
to 8:00 am show will be simulcast on the company’s KTOK-AM, Oklahoma City and KAKC-AM, Tulsa. iHeartMedia Nashville market president Dan Endom says, “We are thrilled to welcome Michael, a true broadcasting legend, to iHeartMedia Nashville. Michael’s extensive knowledge of the airwaves coupled with his innate ability to connect with audiences will elevate our programming to new heights.” DelGiorno served with Cumulus Media’s crosstown WWTN-FM, Nashville from 2007 through March of this year. He also previously hosted shows on KFAQ and KRMG in Tulsa.
West Virginia. Roten posted the following to social media: “For 22 years, my morning talk radio show was the #1 show in the Huntington, WV market. The most recent ratings period showed the station overall at #5 in the market, #1 for AM stations (highest ever ranking). Unfortunately, iHeart is going in a different direction and I was dismissed. While my future is uncertain, you can still access my podcasts from Spotify and other streaming services.”
The fourth and final round of ratings information from Nielsen Audio’s September 2023 PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. Nielsen’s September 2023 sweep covered August 17 – September 13. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Milwaukee, 
programming schedule from 9:00 am on. The local “X’s and Bro’s” morning drive show continues to air from 6:00 am to 9:00 am. iHeartMedia Grand Rapids SVP of programming Dave Taft says, “We’re thrilled to now have the FOX Sports Radio lineup on ‘96.1 The Game.’ This addition, along with local sports coverage, play-by-play and the Michigan Sports Network, will continue our position as the broadcast sports leader in West Michigan.”
health, news, comedy and more.” iHeartMedia says, “Three years into its mission, The Black Effect has cemented itself as the premiere destination for Black talent and Black listeners, launching over 30 exceptional shows – including ‘Carefully Reckless,’ ‘All The Smoke,’ and ‘Reasonably Shady’ – that cover a wide range of topics and amplify diverse voices and perspectives. Charlamagne Tha God adds, “As we celebrate three years of The Black Effect Podcast Network, we honor the power of representation, the resilience of our community, and the unwavering commitment to truth and excellence. Together, we’ve amplified voices and paved the way for a future where our narratives flourish.”