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REVENUE (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables show revenue streams for the three months ended March 31, 2023 and 2022:

(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Eliminations						Consolidated
Three Months Ended March 31, 2023
Revenue from contracts with customers:
Broadcast Radio(1)			$	383,238					$	—					$	—					$	—					$	383,238
Networks(2)			107,954						—						—						—						107,954
Sponsorship and Events(3)			32,587						—						—						—						32,587
Digital, excluding Podcast(4)			—						146,585						—						(1,189)						145,396
Podcast(5)			—						76,811						—						—						76,811
Audio & Media Services(6)			—						—						61,351						(1,332)						60,019
Other(7)			4,924						—						—						—						4,924
Total			528,703						223,396						61,351						(2,521)						810,929
Revenue from leases(8)			310						—						—						—						310
Revenue, total			$	529,013					$	223,396					$	61,351					$	(2,521)					$	811,239
Three Months Ended March 31, 2022
Revenue from contracts with customers:
Broadcast Radio(1)			$	415,242					$	—					$	—					$	—					$	415,242
Networks(2)			117,558						—						—						—						117,558
Sponsorship and Events(3)			33,601						—						—						—						33,601
Digital, excluding Podcast(4)			—						145,675						—						(1,269)						144,406
Podcast(5)			—						68,544						—						—						68,544
Audio & Media Services(6)			—						—						60,857						(1,341)						59,516
Other(7)			4,469						—						—						(168)						4,301
Total			570,870						214,219						60,857						(2,778)						843,168
Revenue from leases(8)			290						—						—						—						290
Revenue, total			$	571,160					$	214,219					$	60,857					$	(2,778)					$	843,458

(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 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.

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 March 31,
(In thousands)			2023						2022
Trade and barter revenues			$	45,029					$	40,348
Trade and barter expenses			47,386						46,415

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 March 31,
(In thousands)			2023						2022
Deferred revenue from contracts with customers:
Beginning balance(1)			$	157,910					$	161,114
Revenue recognized, included in beginning balance			(56,133)						(60,389)
Additions, net of revenue recognized during period, and other			68,904						83,331
Ending balance			$	170,681					$	184,056

(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 March 31, 2023, the future lease payments to be received by the Company are as follows:

(In thousands)
2023			$	714
2024			693
2025			509
2026			393
2027			339
Thereafter			1,251
Total			$	3,899

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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