The company announced its Q4 2017 and full-year revenue Monday with iHeartMedia (radio) gaining 0.3%, or $2.7 million, in Q4 and 1.2%, or $39.9 million, for the year. The increase in Q4 is iHeart’s 19th consecutive quarter of revenue growth in its radio division. With over $20 billion in debt, iHeart filed Chapter 11 in March, and is now working through that process.
There were no executive comments about Q4 revenue and there is no earnings call due to the bankruptcy proceedings. However, the filing stated that the $2.7 million Q4 increase was due to “growth in national and other revenue being partially offset by lower local revenue. National revenue grew due to an increase in national trade and barter, largely from the iHeartMedia Music Festival, as well as increased programmatic buying.” The increases were partially offset by a decrease in national traffic and weather revenue. Local revenue decreased as a result of lower spot and political revenue, partially offset by an increase in local trade and barter. Those same explanations were used as reasons for the overall increase in revenue for all of 2017.
How about their online streaming division? Do they break out numbers for that?