Tag: staffers

iHeartMedia bucks the recent trend and posts a net income increase of 9.6% on $884 million during the first quarter of 2026. For the quarter it reports operating income of $1.5 million, compared to the operating loss it took in Q1 of 2025. The company posted a net loss of $95.6 million, down from the net loss of $280.8 million in posted a year ago. That’s the good news. Unfortunately for some staffers another round of cuts is coming as the company seeks to make its radio station operations profitable. President and COO Rich Bressler states, “In the first quarter, the Digital Audio Group continued its strong momentum, with revenues up 18% year over year, slightly ahead of our guidance, while our Podcasting revenues grew 26.9% compared to prior year, above our guidance. We are announcing a new savings initiative that will generate an additional $50 million of annualized savings, in addition to our previously announced $100 million of in-year 2026 savings, as well as now paying minimal cash taxes in 2026, which we expect will have a $150 to $200 million impact over the next 3 years. And today we are reaffirming our Full Year Adjusted EBITDA guide of $800 million and our Free Cash Flow guide of $200 million.” The company is also expecting the increase in programmatic revenue to be some $200 million (+50%) during 2026.