iHeartMedia Revenue Dips Amid Continued Weakness in Broadcast Advertising Market ...Middle East

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iHeartMedia Revenue Dips Amid Continued Weakness in Broadcast Advertising Market
Podcasting revenue at iHeartMedia jumped 13 percent in the three months ended June 30, 2023, reaching $97 million, while the rest of the company’s revenues continued to be impacted by softness in the advertising market. iHeartMedia reported total revenue of $920 million in the second quarter, down 3.6 percent from a year ago but better than the company’s guidance range of “down mid-single digits.” Multiplatform revenue was down 5.9 percent, or $37.4 million, due to decreases in broadcast advertising “due to a challenging macroeconomic environment” as well as a decline in political advertising. R

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