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REVENUE | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE The Company generates revenue from several sources: •The primary source of revenue in the Multiplatform Group segment is the sale of advertising on the Company’s radio stations. This segment also generates revenues from programming talent, network syndication, traffic and weather data, live and virtual events and other miscellaneous transactions. •The primary source of revenue in the Digital Audio Group segment is the sale of advertising on the Company’s podcast network, iHeartRadio mobile application and website, and station websites. •The Company also generates revenue through contractual commissions realized from the sale of national spot and online advertising on behalf of clients of its full-service media representation business, Katz Media, which is reported in the Company’s Audio and Media Services Group segment. Disaggregation of Revenue The following table shows revenue streams for the Company for the years ended December 31, 2022, 2021, and 2020:
(In thousands) | Multiplatform Group |  | Digital Audio Group |  | Audio and Media Services Group |  | Eliminations |  | Consolidated
Year Ended December 31, 2022
Revenue from contracts with customers: |  |  |  |  |  |  |  |  |
Broadcast Radio(1) | $ | 1,887,433 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,887,433 |
Networks(2) | 503,244 |  |  | — |  |  | — |  |  | — |  |  | 503,244 |
Sponsorship and Events(3) | 188,985 |  |  | — |  |  | — |  |  | — |  |  | 188,985 |
Digital, excluding Podcast(4) | — |  |  | 663,392 |  |  | — |  |  | (5,238) |  |  | 658,154 |
Podcast(5) | — |  |  | 358,432 |  |  | — |  |  | — |  |  | 358,432 |
Audio & Media Services(6) | — |  |  | — |  |  | 304,302 |  |  | (5,348) |  |  | 298,954 |
Other(7) | 16,140 |  |  | — |  |  | — |  |  | (447) |  |  | 15,693 |
Total | 2,595,802 |  |  | 1,021,824 |  |  | 304,302 |  |  | (11,033) |  |  | 3,910,895 |
Revenue from leases(8) | 1,388 |  |  | — |  |  | — |  |  | — |  |  | 1,388 |
Revenue, total | $ | 2,597,190 |  |  | $ | 1,021,824 |  |  | $ | 304,302 |  |  | $ | (11,033) |  |  | $ | 3,912,283 |
Year Ended December 31, 2021
Revenue from contracts with customers: |  |  |  |  |  |  |  |  |
Broadcast Radio(1) | $ | 1,812,252 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,812,252 |
Networks(2) | 503,052 |  |  | — |  |  | — |  |  | — |  |  | 503,052 |
Sponsorship and Events(3) | 160,322 |  |  | — |  |  | — |  |  | — |  |  | 160,322 |
Digital, excluding Podcast(4) | — |  |  | 581,918 |  |  | — |  |  | (5,845) |  |  | 576,073 |
Podcast(5) | — |  |  | 252,564 |  |  | — |  |  | — |  |  | 252,564 |
Audio & Media Services(6) | — |  |  | — |  |  | 247,957 |  |  | (6,602) |  |  | 241,355 |
Other(7) | 11,958 |  |  | — |  |  | — |  |  | (670) |  |  | 11,288 |
Total | 2,487,584 |  |  | 834,482 |  |  | 247,957 |  |  | (13,117) |  |  | 3,556,906 |
Revenue from leases(8) | 1,434 |  |  | — |  |  | — |  |  | — |  |  | 1,434 |
Revenue, total | $ | 2,489,018 |  |  | $ | 834,482 |  |  | $ | 247,957 |  |  | $ | (13,117) |  |  | $ | 3,558,340 |
Year Ended December 31, 2020
Revenue from contracts with customers:
Broadcast Radio(1) | $ | 1,604,880 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,604,880 |
Networks(2) | 484,950 |  |  | — |  |  | — |  |  | — |  |  | 484,950 |
Sponsorship and Events(3) | 107,654 |  |  | — |  |  | — |  |  | — |  |  | 107,654 |
Digital, excluding Podcast(4) | — |  |  | 372,687 |  |  | — |  |  | — |  |  | 372,687 |
Podcast(5) | — |  |  | 101,684 |  |  | — |  |  | — |  |  | 101,684 |
Audio & Media Services(6) | — |  |  | — |  |  | 274,749 |  |  | (7,086) |  |  | 267,663 |
Other(7) | 7,276 |  |  | — |  |  | — |  |  | (670) |  |  | 6,606 |
Total | 2,204,760 |  |  | 474,371 |  |  | 274,749 |  |  | (7,756) |  |  | 2,946,124 |
Revenue from leases(8) | 2,094 |  |  | — |  |  |  |  |  |  | 2,094 |
Revenue, total | $ | 2,206,854 |  |  | $ | 474,371 |  |  | $ | 274,749 |  |  | $ | (7,756) |  |  | $ | 2,948,218 |
(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 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 software and media streaming, along with research services for radio stations, broadcast television stations, cable channels, record labels, ad agencies 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. Trade and Barter Trade and barter transactions represent the exchange of advertising spots for merchandise, services, other advertising 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, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows:
| Year Ended December 31,
(In thousands) | 2022 |  | 2021 |  | 2020
Consolidated: |  |  |  |  |
Trade and barter revenues | $ | 229,009 |  |  | $ | 175,519 |  |  | $ | 158,383 |
Trade and barter expenses | 188,161 |  |  | 149,846 |  |  | 154,715 |
The Company recognized barter revenue of $40.7 million, $16.3 million and $10.5 million for the year ended December 31, 2022, 2021, and 2020, 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:
|  |  | Year Ended December 31,
(In thousands) |  |  |  |  | 2022 |  | 2021 |  | 2020
Deferred revenue from contracts with customers: |  |  |  |  |  |  |  |  |
Beginning balance(1) |  |  |  |  | $ | 161,114 |  |  | $ | 145,493 |  |  | $ | 162,068 |
Revenue recognized, included in beginning balance |  |  |  |  | (117,947) |  |  | (93,195) |  | (95,531)
Additions, net of revenue recognized during period, and other |  |  |  |  | 114,743 |  | 108,816 |  | 78,956
Ending balance |  |  |  |  | $ | 157,910 |  |  | $ | 161,114 |  |  | $ | 145,493 |
(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 a term of one year or less; however, as of December 31, 2022, the Company expects to recognize $320.8 million of revenue in future periods for remaining performance obligations from current contracts with customers that have an original expected duration of 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 December 31, 2022, the future lease payments to be received by the Company are as follows:
(In thousands)
2023 | $ | 959 |
2024 | 723 |
2025 | 541 |
2026 | 425 |
2027 | 372 |
Thereafter | 1,259 |
Total minimum future rentals | $ | 4,279 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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