iHeartMedia released its earnings report for the third quarter ending on September 30.

iHeart notes that Q3 revenue of $1.03 billion was up 3.3% over the same quarter in 2025 and excluding political revenue was up 0.9%. GAAP Operating income was $73 million, compared to a GAAP Operating loss of $116 million in Q3 2025. Consolidated Adjusted EBITDA of $170 million, compared to $205 million in Q3 2025

The company’s Multiplatform Group that includes its radio station operations saw revenue of $562 million down 5% from last year. Excluding political revenue it was down 7%. The segment’s Adjusted EBITDA of $68 million was down 43%, while its Adjusted EBITDA margin was 12.1%.

The Audio & Media Services Group, which includes subsidiaries like Katz and RCS, saw revenue up 23% to $82 million, which dropped to just 3% excluding political revenue.

The Digital Audio Group, which includes the company’s podcast and streaming business was up 14% to $389 million. Podcast revenue itself was up 24% to $174 million with other digital revenue up 6% to $215 million.

The company had total Programmatic revenue of $200 million up 50% from last year with the company expecting it to double to $400 million in 2027 including $100 million of incremental broadcast radio programmatic revenue.

Chairman/CEO Bob Pittman said, “In the third quarter, our consolidated revenue was $1.03 billion, up 3.3% compared to the prior year quarter; ex political, our consolidated revenue was up 0.9%. We generated Adjusted EBITDA of $170 million. Our Digital Audio Group, led by podcasting, and our Audio and Media Services Group both continued to deliver strong results and profitability. Given the accelerating adoption of audio programmatic, we believe that the continuing rollout of our AudioGraph platform has the potential to meaningfully improve the performance of our broadcast radio business, enabling us to meet the advertising community the way they want to buy advertising.”

President/COO Rich Bressler commented, “In Q3 the Digital Audio Group’s revenue was $389 million, up 13.8% vs. prior year, and our Q3 Adjusted EBITDA margins were 32.8%. While this quarter was negatively impacted by a number of factors, we believe many of our revenue challenges are addressable – and beginning in 2027, we expect to establish podcasting as a separate reporting segment, which will provide greater insight into its financial performance and make it easier to fully value all four of our segments and our entire company.”