Google Search


Search This Blog

Saturday, August 1, 2015

iHeartMedia Q2 Revenue Increases 4%

iHeartMedia Q2 Revenue Increases 4%
Jul 30th 2015, 10:38
On his second anniversary with the company, CFO Richard Bressler told investors automotive, medical and healthcare and financial services were the strongest categories for the company as revenue grew from $806 Million in the second quarter of 2014 to $841 this year. Expenses for the quarter were up 5% due to event production costs and higher sales compensation expenses on the national side. iHeartRadio went over the 71 million register user mark and total listening hours on the app were up 23% in Q2. 60% of iHeartRadio's listening in Q2 was done on a mobile device. The company continues to have $20 billion in debt with $196 million in maturities coming due in 2016 and $934 million in 2018.