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REVENUE
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregation of Revenue
The following tables show revenue streams for the Successor Company for the periods presented:
Successor Company
(In thousands)AudioAudio and Media ServicesEliminationsConsolidated
Three Months Ended September 30, 2020
Revenue from contracts with customers:
  Broadcast Radio(1)
$404,460 $— $— $404,460 
  Digital(2)
112,589 — — 112,589 
  Networks(3)
118,982 — — 118,982 
  Sponsorship and Events(4)
28,898 — — 28,898 
  Audio and Media Services(5)
— 75,039 (1,762)73,277 
  Other(6)
5,791 — (168)5,623 
     Total670,720 75,039 (1,930)743,829 
Revenue from leases(7)
577 — — 577 
Revenue, total$671,297 $75,039 $(1,930)$744,406 
Three Months Ended September 30, 2019
Revenue from contracts with customers:
  Broadcast Radio(1)
$573,048 $— $— $573,048 
  Digital(2)
96,656 — — 96,656 
  Networks(3)
160,133 — — 160,133 
  Sponsorship and Events(4)
55,541 — — 55,541 
  Audio and Media Services(5)
— 59,873 (1,731)58,142 
  Other(6)
4,568 — (168)4,400 
     Total 889,946 59,873 (1,899)947,920 
Revenue from leases(7)
418 — — 418 
Revenue, total$890,364 $59,873 $(1,899)$948,338 
Successor Company
(In thousands)AudioAudio and Media ServicesEliminationsConsolidated
Nine Months Ended September 30, 2020
Revenue from contracts with customers:
  Broadcast Radio(1)
$1,110,155 $— $— $1,110,155 
  Digital(2)
298,592 — — 298,592 
  Networks(3)
349,889 — — 349,889 
  Sponsorship and Events(4)
73,055 — — 73,055 
  Audio and Media Services(5)
— 174,517 (5,352)169,165 
  Other(6)
10,895 — (503)10,392 
Total1,842,586 174,517 (5,855)2,011,248 
Revenue from leases(7)
1,440 — — 1,440 
Revenue, total$1,844,026 $174,517 $(5,855)$2,012,688 
Period from May 2, 2019 through September 30, 2019
Revenue from contracts with customers:
  Broadcast Radio(1)
$963,588 $— $— $963,588 
  Digital(2)
160,894 — — 160,894 
  Networks(3)
265,559 — — 265,559 
  Sponsorship and Events(4)
87,331 — — 87,331 
  Audio and Media Services(5)
— 100,410 (2,740)97,670 
  Other(6)
8,525 — (280)8,245 
Total1,485,897 100,410 (3,020)1,583,287 
Revenue from leases(7)
697 — — 697 
Revenue, total$1,486,594 $100,410 $(3,020)$1,583,984 

(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
Audio and Media Services(1)
EliminationsConsolidated
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 

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 Company
Three Months Ended September 30,
(In thousands)20202019
  Trade and barter revenues$41,430 $59,530 
  Trade and barter expenses44,109 40,319 
Successor CompanyPredecessor Company
Nine Months Ended September 30,Period from May 2, 2019 through September 30,Period from January 1, 2019 through May 1,
(In thousands)202020192019
Trade and barter revenues$113,861 $89,229 $65,934 
Trade and barter expenses116,182 68,342 58,330 
The Successor Company recognized barter revenue of $2.3 million, $5.6 million, $7.5 million and $7.5 million in the three months ended September 30, 2020, the three months ended September 30, 2019, the period from May 2, 2019 through September 30, 2019 and the nine months ended September 30, 2020, respectively, in connection with investments made in companies in exchange for advertising services. The Predecessor Company recognized barter revenue of $5.9 million in the period from January 1, 2019 through May 1, 2019 in connection with investments made in companies in exchange for advertising services.
The following tables show the Company’s deferred revenue balance from contracts with customers, excluding discontinued operations:
Successor Company
Three Months Ended September 30,
(In thousands)20202019
Deferred revenue from contracts with customers:
  Beginning balance(1)
$178,030 $159,752 
    Revenue recognized, included in beginning balance(79,261)(74,875)
    Additions, net of revenue recognized during period, and other73,352 75,660 
  Ending balance$172,121 $160,537 

Successor CompanyPredecessor Company
Nine Months Ended September 30,Period from May 2, 2019 through September 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(86,419)(87,098)(76,473)
    Additions, net of revenue recognized during period, and other96,472 95,862 79,228 
Ending balance$172,121 $160,537 $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 September 30, 2020, the Company expects to recognize $262.3 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 September 30, 2020, the future lease payments to be received by the Successor Company are as follows:
(In thousands)
2020$398 
20211,289 
20221,045 
2023990 
2024888 
Thereafter11,094 
  Total$15,704