iHeartMedia released its 2026 Q1 earnings report showing a revenue gain of 9.6% to $884 million, GAAP Operating income of $1.5 million up from a $25 million loss in Q1 2025, and Consolidated Adjusted EBITDA of $93 million down 11.4% from $105 million last year.
iHeartMedia’s Multiplatform Group which includes its radio station operations was up 4%. It’s Digital Audio Group Revenue was up 18% to 327 million, with podcasting accounting for a 27% increase to $147 million. Other digital revenue was up 12% to $180 million. Total Programmatic revenue of approximately $200 million was up approximately 50%.
Total revenue increased by 9.6% to $77.1 million. Digital Audio Group revenue increased $49.9 million from increases in demand for digital and podcast advertising, as well as increased non-cash trade revenue resulting from strategic marketing initiatives. The Multiplatform Group revenue was up 4.3% to $20.5 million from what the company says was an increase in non-cash trade revenue resulting from strategic marketing initiatives, partially offset by a decrease in broadcast advertising in connection with continued uncertain market conditions. The company’s Audio & Media Services revenue increased $7.3 million, or 12.2%, primarily as a result of strong demand for digital advertising.
The company noted it will begin a new cost savings program of $50 million in the second half of 2026 in addition to the $100 million of cost cutting already planned or to haven taken place this year.
iHeartMedia Chairman/CEO Bob Pittman said, “We generated first quarter revenues of $884 million, up 9.6% compared to the prior-year quarter, and Adjusted EBITDA of $93 million. We believe that 2026, helped by the additional revenue that comes from the mid-term election cycle, will be a significant year in terms of Adjusted EBITDA and Free Cash Flow generation for iHeart.”
President/COO Rich Bressler followed, “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.”
