Pittman and Bressler Outline iHeartMedia’s Vision for 2025

Following a quarter of headline-making layoffs and an attention-grabbing Q3 earnings call, iHeartMedia is orienting itself for 2025. In a holiday message to employees, CEO Bob Pittman and President/COO/CFO Rich Bressler say the company is poised for a pivotal year.

“We are committed to being leaders and innovators,” Pittman and Bressler wrote in the end-of-year greeting obtained by Radio Ink. “Today, we have more radio listeners than we did 20 years ago, and we are also the number one podcast publisher in what has become the fastest-growing new media in the past 20 years.”

iHeart’s leaders are standing by their use of technology to “break down silos” and “allow our managers to broaden their span of responsibilities.” According to Pittman and Bressler, this approach will make it easier to do business with iHeartMedia and enhance the company’s operational capabilities.

The broadcaster faced criticism starting in November after the implementation of layoffs, affecting numerous on-air personalities, programmers, and regional and market leaders. These reductions are part of cost-cutting measures projected to save the company $150 million.

In their message, Pittman and Bressler underscored the importance of adaptability in maintaining leadership in the audio industry. “We know that for us to continue to lead the audio industry, we must embrace — not shy away from — change. Even though we are a well-established company, we need to be as nimble, flexible, and innovative as a startup.  One of our company values is urgency, and that means we need to be committed to acting faster than our competitors. Nimbleness plus scale is our secret sauce.”

The recent launch of a new version of the iHeartRadio app – designed after the in-car radio experience – is labeled as part of these efforts, alongside a refinancing initiative aimed at reducing overall debt and extending payment windows to 2029 and beyond. The company also announced that starting January 1, it will reinstate its 401(k) matching program for eligible employees.

In closing, Pittman and Bressler ultimately expressed optimism for the year ahead: “2025 will be an exciting year for iHeart as we continue to build on our strong leadership position in audio. Thanks for all your contributions and your dedication – it is the key to our success.”