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REVENUE (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables show revenue streams for the three and nine months ended September 30, 2021 and 2020:

(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Eliminations						Consolidated
Three Months Ended September 30, 2021
Revenue from contracts with customers:
Broadcast Radio(1)			$	483,456					$	—					$	—					$	—					$	483,456
Networks(2)			127,920						—						—						—						127,920
Sponsorship and Events(3)			42,663						—						—						—						42,663
Digital, excluding Podcast(4)			—						141,573						—						(1,475)						140,098
Podcast(5)			—						64,196						—						—						64,196
Audio & Media Services(6)			—						—						66,078						(1,188)						64,890
Other(7)			4,636						—						—						(112)						4,524
Total			658,675						205,769						66,078						(2,775)						927,747
Revenue from leases(8)			304						—						—						—						304
Revenue, total			$	658,979					$	205,769					$	66,078					$	(2,775)					$	928,051
Three Months Ended September 30, 2020
Revenue from contracts with customers:
Broadcast Radio(1)			$	404,460					$	—					$	—					$	—					$	404,460
Networks(2)			118,982						—						—						—						118,982
Sponsorship and Events(3)			28,898						—						—						—						28,898
Digital, excluding Podcast(4)			—						93,574						—						—						93,574
Podcast(5)			—						22,626						—						—						22,626
Audio & Media Services(6)			—						—						75,039						(1,762)						73,277
Other(7)			2,180						—						—						(168)						2,012
Total			554,520						116,200						75,039						(1,930)						743,829
Revenue from leases(8)			577						—						—						—						577
Revenue, total			$	555,097					$	116,200					$	75,039					$	(1,930)					$	744,406

(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Eliminations						Consolidated
Nine Months Ended September 30, 2021
Revenue from contracts with customers:
Broadcast Radio(1)			$	1,293,134					$	—					$	—					$	—					$	1,293,134
Networks(2)			366,592						—						—						—						366,592
Sponsorship and Events(3)			93,641						—						—						—						93,641
Digital, excluding Podcast(4)			—						405,276						—						(4,547)						400,729
Podcast(5)			—						155,976						—						—						155,976
Audio & Media Services(6)			—						—						182,390						(5,053)						177,337
Other(7)			8,226						—						—						(447)						7,779
Total			1,761,593						561,252						182,390						(10,047)						2,495,188
Revenue from leases(8)			1,133						—						—						—						1,133
Revenue, total			$	1,762,726					$	561,252					$	182,390					$	(10,047)					$	2,496,321
Nine Months Ended September 30, 2020
Revenue from contracts with customers:
Broadcast Radio(1)			$	1,110,155					$	—					$	—					$	—					$	1,110,155
Networks(2)			349,889						—						—						—						349,889
Sponsorship and Events(3)			73,055						—						—						—						73,055
Digital, excluding Podcast(4)			—						242,479						—						—						242,479
Podcast(5)			—						59,724						—						—						59,724
Audio & Media Services(6)			—						—						174,517						(5,352)						169,165
Other(7)			7,284						—						—						(503)						6,781
Total			1,540,383						302,203						174,517						(5,855)						2,011,248
Revenue from leases(8)			1,440						—						—						—						1,440
Revenue, total			$	1,541,823					$	302,203					$	174,517					$	(5,855)					$	2,012,688

(1)Broadcast Radio revenue is generated through the sale of advertising time on the Company’s domestic radio stations.

(2)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.

(3)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.

(4)Digital, excluding Podcast revenue is generated through the sale of streaming and display advertisements on digital platforms and through subscriptions to iHeartRadio streaming services.

(5)Podcast revenue is generated through the sale of advertising on the Company's podcast network.

(6)Audio & 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.

(7)Other revenue represents fees earned for miscellaneous services, including on-site promotions, activations, and local marketing agreements.

(8)Revenue from leases is primarily generated by the lease of towers to other media companies, which are all categorized as operating leases.

Barter and Trade Revenues and Expenses

Trade and barter revenues and expenses, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands)			2021						2020						2021						2020
Trade and barter revenues			$	49,200					$	41,430					$	127,654					$	113,861
Trade and barter expenses			33,955						44,109						101,998						116,182

Schedule of Contract with Customer, Asset and Liability

The following tables show the Company’s deferred revenue balance from contracts with customers:

			Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands)			2021						2020						2021						2020
Deferred revenue from contracts with customers:
Beginning balance(1)			$	149,731					$	178,030					$	145,493					$	162,068
Revenue recognized, included in beginning balance			(52,406)						(79,261)						(84,375)						(86,419)
Additions, net of revenue recognized during period, and other			56,799						73,352						93,006						96,472
Ending balance			$	154,124					$	172,121					$	154,124					$	172,121

(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.

Schedule of Future Lease Payments to be Received

As of September 30, 2021, the future lease payments to be received by the Company are as follows:

(In thousands)
2021			$	277
2022			910
2023			759
2024			579
2025			394
Thereafter			1,828
Total			$	4,747

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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
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