iHeartMedia, Inc. Reports Results for 2015 First Quarter
Download the complete release here.
Revenues1 up 4%, excluding FX impact (reported revenues slightly up)
OIBDAN1 up 7.5%, excluding FX impact (reported OIBDAN up 6%)
San Antonio, April 30, 2015 – iHeartMedia, Inc. (OTCBB: IHRT) today reported financial results for the first quarter ended March 31, 2015.
“We’re pleased with the growth we achieved this quarter, and continued to break new ground in enabling advertisers and partners to engage seamlessly across all of our diverse media platforms with the announcement of our creation of a new programmatic buying solution, which will bring the power of radio to advertisers through an automated, real-time ad buying platform,” said Bob Pittman, Chairman and Chief Executive Officer. “In addition, we continue to provide the most live entertainment – with more content and more events in more places on more devices – to the industry’s most engaged audiences, wherever they are. Last month, our second annual iHeartRadio Music Awards Show generated more buzz than ever with 14 billion social media impressions and was rated Number 1 for 18-49s across the Big 4 broadcast networks that night. At Outdoor, we couldn’t be more happy with our team and the strong momentum we gained in the first quarter.”
“We delivered strong year over year growth in both revenue and OIBDAN across the board in the first quarter,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “We also continue to pursue transactions that streamline our balance sheet and maximize liquidity, as well as continually review our entire portfolio of assets to ensure we operate them in the most efficient way possible.”
About iHeartMedia, Inc./iHeartCommunications, Inc.
iHeartMedia, Inc (PINK: IHRT), the parent company of iHeartCommunications, Inc., is one of the leading global media and entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company’s products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches over 35 countries across five continents, connecting people to brands using innovative new technology.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes a growing digital platform that now offers over 1,050 digital billboards across 29 U.S. markets. Clear Channel Outdoor Holdings’ International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats.