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REVENUE
 6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregation of Revenue
The following table shows revenue streams for the Successor Company for the periods presented:
Successor Company
(In thousands)AudioAudio and Media ServicesEliminationsConsolidated
Three Months Ended June 30, 2020
Revenue from contracts with customers:
  Broadcast Radio(1)
$244,035  $—  $—  $244,035  
  Digital(2)
93,227  —  —  93,227  
  Networks(3)
96,330  —  —  96,330  
  Sponsorship and Events(4)
14,809  —  —  14,809  
  Audio and Media Services(5)
—  39,251  (1,779) 37,472  
  Other(6)
1,544  —  (168) 1,376  
     Total449,945  39,251  (1,947) 487,249  
Revenue from leases(7)
399  —  —  399  
Revenue, total$450,344  $39,251  $(1,947) $487,648  
Period from May 2, 2019 through June 30, 2019
Revenue from contracts with customers:
  Broadcast Radio(1)
$390,540  $—  $—  $390,540  
  Digital(2)
64,238  —  —  64,238  
  Networks(3)
105,426  —  —  105,426  
  Sponsorship and Events(4)
31,790  —  —  31,790  
  Audio and Media Services(5)
—  40,537  (1,009) 39,528  
  Other(6)
3,957  —  (112) 3,845  
     Total 595,951  40,537  (1,121) 635,367  
Revenue from leases(7)
279  —  —  279  
Revenue, total$596,230  $40,537  $(1,121) $635,646  
Six Months Ended June 30, 2020
Revenue from contracts with customers:
  Broadcast Radio(1)
$705,695  $—  $—  $705,695  
  Digital(2)
186,003  —  —  186,003  
  Networks(3)
230,907  —  —  230,907  
  Sponsorship and Events(4)
44,157  —  —  44,157  
  Audio and Media Services(5)
—  99,478  (3,590) 95,888  
  Other(6)
5,103  —  (335) 4,768  
     Total1,171,865  99,478  (3,925) 1,267,418  
Revenue from leases(7)
864  —  —  864  
Revenue, total$1,172,729  $99,478  $(3,925) $1,268,282  

(1)Broadcast Radio revenue is generated through the sale of advertising time on the Company’s domestic radio stations.
(2)Digital revenue is generated through the sale of streaming and display advertisements on digital platforms, subscriptions to iHeartRadio streaming services, podcasting and the dissemination of other digital content.
(3)Networks revenue is generated through the sale of advertising on the Company’s Premiere and Total Traffic & Weather network programs and through the syndication of network programming to other media companies.
(4)Sponsorship and events revenue is generated through local events and major nationally-recognized tent pole events and include sponsorship and other advertising revenue, ticket sales, and licensing, as well as endorsement and appearance fees generated by on-air talent.
(5)Audio and media services revenue is generated by services provided to broadcast industry participants through the Company’s Katz Media and RCS businesses. As a media representation firm, Katz Media generates revenue via commissions on media sold on behalf of the radio and television stations that it represents, while RCS generates revenue by providing broadcast and webcast software and technology and services to radio stations, television music channels, cable companies, satellite music networks and Internet stations worldwide.
(6)Other revenue represents fees earned for miscellaneous services, including on-site promotions, activations, and local marketing agreements.
(7)Revenue from leases is primarily generated by the lease of towers to other media companies, which are all categorized as operating leases.

The following table shows revenue streams from continuing operations for the Predecessor Company. The presentation of amounts in the Predecessor period has been revised to conform to the Successor period presentation.
Predecessor Company
(In thousands)
Audio(1)
Audio and Media Services(1)
EliminationsConsolidated
Period from April 1, 2019 through May 1, 2019
Revenue from contracts with customers:
  Broadcast Radio170,632  $—  $—  $170,632  
  Digital26,840  —  —  26,840  
  Networks50,889  —  —  50,889  
  Sponsorship and Events10,617  —  —  10,617  
  Audio and Media Services—  17,970  (701) 17,269  
  Other1,197  —  (56) 1,141  
     Total 260,175  17,970  (757) 277,388  
Revenue from leases286  —  —  286  
Revenue, total$260,461  $17,970  $(757) $277,674  
Period from January 1, 2019 through May 1, 2019
Revenue from contracts with customers:
  Broadcast Radio$657,864  $—  $—  $657,864  
  Digital102,789  —  —  102,789  
  Networks189,088  —  —  189,088  
  Sponsorship and Events50,330  —  —  50,330  
  Audio and Media Services—  69,362  (2,325) 67,037  
  Other5,910  —  (243) 5,667  
     Total1,005,981  69,362  (2,568) 1,072,775  
Revenue from leases696  —  —  696  
Revenue, total$1,006,677  $69,362  $(2,568) $1,073,471  
(1)Due to a re-evaluation of the Company’s internal segment reporting upon the effectiveness of the Plan of Reorganization, the Company’s RCS business is included in the Audio & Media Services results for all periods presented.
Trade and Barter
Trade and barter transactions represent the exchange of advertising spots for merchandise, services, advertising and promotion or other assets in the ordinary course of business. The transaction price for these contracts is measured at the estimated fair value of the non-cash consideration received unless this is not reasonably estimable, in which case the consideration is measured based on the standalone selling price of the advertising spots promised to the customer. Trade and barter revenues and expenses from continuing operations, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows:
Successor CompanyPredecessor Company
Three Months Ended June 30,Period from May 2, 2019 through June 30,Period from April 1, 2019 through May 1,
(In thousands)202020192019
  Trade and barter revenues$19,753  $29,699  $10,349  
  Trade and barter expenses17,075  28,023  8,474  
Successor CompanyPredecessor Company
Six Months Ended June 30,Period from May 2, 2019 through June 30,Period from January 1, 2019 through May 1,
(In thousands)202020192019
Trade and barter revenues$72,431  $29,699  $65,934  
Trade and barter expenses72,073  28,023  58,330  
The Successor Company recognized barter revenue of $0.2 million, $1.9 million and $5.2 million in the three months ended June 30, 2020, the period from May 2, 2019 through June 30, 2019 and the six months ended June 30, 2020, respectively, in connection with investments made in companies in exchange for advertising services. The Predecessor Company recognized barter revenue of $0.9 million and $5.9 million in the period from April 1, 2019 through May 1, 2019 and the period from January 1, 2019 through May 1, 2019, respectively, in connection with investments made in companies in exchange for advertising services.

Deferred Revenue
The following tables show the Company’s deferred revenue balance from contracts with customers, excluding discontinued operations:
Successor CompanyPredecessor Company
Three Months Ended June 30,Period from May 2, 2019 through June 30,Period from April 1, 2019 through May 1,
(In thousands)202020192019
Deferred revenue from contracts with customers:
  Beginning balance(1)
$175,321  $151,475  $155,114  
    Impact of fresh start accounting—  298  —  
    Revenue recognized, included in beginning balance(59,155) (59,018) (43,172) 
    Additions, net of revenue recognized during period, and other61,864  66,997  39,533  
  Ending balance$178,030  $159,752  $151,475  
Successor CompanyPredecessor Company
Six Months Ended June 30,Period from May 2, 2019 through June 30,Period from January 1, 2019 through May 1,
(In thousands)202020192019
Deferred revenue from contracts with customers:
  Beginning balance(1)
$162,068  $151,475  $148,720  
    Impact of fresh start accounting—  298  —  
    Revenue recognized, included in beginning balance(76,053) (59,018) (76,473) 
    Additions, net of revenue recognized during period, and other92,015  66,997  79,228  
Ending balance$178,030  $159,752  $151,475  
(1) Deferred revenue from contracts with customers, which excludes other sources of deferred revenue that are not related to contracts with customers, is included within deferred revenue and other long-term liabilities on the Consolidated Balance Sheets, depending upon when revenue is expected to be recognized.

The Company’s contracts with customers generally have terms of one year or less; however, as of June 30, 2020, the Company expects to recognize $226.6 million of revenue in future periods for remaining performance obligations from current contracts with customers that have an original expected duration greater than one year, with substantially all of this amount to be recognized over the next five years. Commissions related to the Company’s media representation business have been excluded from this amount as they are contingent upon future sales.
Revenue from Leases
As of June 30, 2020, the future lease payments to be received by the Successor Company are as follows:
(In thousands)
2020$774  
20211,259  
2022860  
2023795  
2024695  
Thereafter10,021  
  Total$14,404