iHeartMedia, Inc. Reports Results for 2014 Fourth Quarter and Full Year

iHeartMedia, Inc. Reports Results for 2014 Fourth Quarter and Full Year

Fourth quarter revenues up 1% -- Excluding impact of foreign exchange rates, revenues up 3%

Fourth quarter OIBDAN up 6% -- Excluding impact of foreign exchange rates, OIBDAN up 7.5%

Full year revenues up 1% totaling $6.3 billion -- Excluding impact of foreign exchange rates, revenues1 up 2%

Full year OIBDAN up 3% totaling $1.8 billion

 SAN ANTONIO (February 19, 2015 07:00 AM EST) - iHeartMedia, Inc. (OTCBB:IHRT) today reported financial results for the fourth quarter and full year ended December 31, 2014.

“Throughout 2014, we further strengthened iHeartMedia’s position as the leading media and entertainment company in the digital age – building on our one-of-a-kind multi-platform assets that deliver unparalleled reach, scale and impact. We continue to develop powerful marketing solutions for our advertising and brand partners while providing 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,” Chairman and Chief Executive Officer Bob Pittman said. “We once again outperformed the broadcast radio market last year, a testament to our ability to attract advertising dollars to our platform. At iHeartRadio, we recently surpassed 60 million registered users, growing faster than any other digital radio or music service, and our social media presence is stronger than ever with more than 70 million social followers. At outdoor, we saw steady improvement this year in our domestic business, while continuing our strong momentum internationally. We look forward to more progress in 2015, as we continue to run our businesses more efficiently than ever and launch innovative initiatives across our unique mix of broadcast radio, digital, mobile, social and event platforms.”

The Company also announced today that Richard Bressler, currently iHeartMedia, Inc.’s President and CFO, is adding the title of Chief Operating Officer for iHeartMedia, Inc. in order to better reflect his actual role and responsibilities since joining the Company in August 2013.

“Since joining us internally at iHeartMedia, Inc. in 2013, Rich has been an enormously valuable partner, both for me and for our entire company,” said Pittman. “In the last year we have made incredible strides, and Rich has played an important role in operations and finance, as well as strategy, for all of iHeartMedia, Inc. We’re delighted to recognize his contributions by adding this title, which better reflects the impact he has made and will continue to make.”

“Both iHeartMedia and our Outdoor business delivered revenue and OIBDAN growth in 2014, even in the face of a challenging first half of the year,” said Rich Bressler, President, Chief Financial and Operating Officer of iHeartMedia, Inc. “Our focus on improving operating efficiency resulted in virtually flat expenses year over year and OIBDAN growth of 3%. We continued to execute on our revenue and efficiency initiatives that are building a strong foundation for our long-term success, and most importantly, our capital markets activities over the past months – including refinancing approximately $1 billion of our term loans and announcing the sale of a select portfolio of tower assets for up to $400 million – have given us even more financial and operating flexibility.”

About iHeartMedia, Inc.

iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.

With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.

The iHeartMedia Digital Audio Group includes the company’s fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 250 platforms and 2,000 devices; the company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.

The company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.

Visit iHeartMedia.com for more company information.