An iHeartRadio recap: iHeartMedia shares updates in earnings call

iHeartMedia logo june 2015 canvas

iHeartMedia has shared its financial results for Q4 and FY 2015. Quarterly revenue rose 3% to $1.8 billion, while revenue for the full year totaled $6.5 billion, up 2% over 2014 (when including adjustments for foreign exchange rates).

The news release also included some details about the iHeartRadio. Although the parent company doesn’t break out financial details separately for its online audio brand, it did share some stats and metrics. iHeartRadio currently hosts more than 2,100 live stations and custom radio channels. The platform surpassed 80 million registered users in January 2016, a 33% increase year-over-year. Total listening hours also rose 30% from 2014, but precise figures were not disclosed. Mobile listening increased to hold two-thirds of the online platform’s total hours in the final quarter.

More recently, iHeartRadio announced several home technology and wearable integrations at the CES show. The new partners include Samsung, LG Smart ThinQ Hub, AppleTV, Firefox OX for Panasonic TVs, and DTS. It has also launched the kid-friendly iHeartRadio Family, marking the company’s first standalone streaming and storytelling app.

Chairman and CEO Bob Pittman also weighed in on the recent federal decision about webcasting royalties in discussing the company’s performance. “At iHeartMedia, the fast-blurring lines between digital and broadcast radio play to our strengths, and the CRB’s new rates will encourage the growth of digital streaming and help build a sustainable digital music marketplace to benefit artists, consumers and the rest of the music industry,” he said.

Anna Washenko