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REVENUE (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following tables show revenue streams for the three months ended March 31, 2024 and 2023:

(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Eliminations						Consolidated
Three Months Ended March 31, 2024
Revenue from contracts with customers:
Broadcast Radio(1)			$	359,338					$	—					$	—					$	—					$	359,338
Networks(2)			102,051						—						—						—						102,051
Sponsorship and Events(3)			27,829						—						—						—						27,829
Digital, excluding Podcast(4)			—						148,344						—						(1,185)						147,159
Podcast(5)			—						90,624						—						—						90,624
Audio & Media Services(6)			—						—						69,168						(1,376)						67,792
Other(7)			4,095						—						—						—						4,095
Total			493,313						238,968						69,168						(2,561)						798,888
Revenue from leases(8)			150						—						—						—						150
Revenue, total			$	493,463					$	238,968					$	69,168					$	(2,561)					$	799,038
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

(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.

Schedule of 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)															2024						2023
Trade and barter revenues															$	41,305					$	45,029
Trade and barter expenses															34,181						47,386

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)															2024						2023
Deferred revenue from contracts with customers:
Beginning balance(1)															$	181,899					$	157,910
Revenue recognized, included in beginning balance															(73,928)						(56,133)
Additions, net of revenue recognized during period, and other															77,864						68,904
Ending balance															$	185,835					$	170,681

(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, 2024, the future lease payments to be received by the Company are as follows:

(In thousands)
2024			$	185
2025			132
2026			72
2027			30
2028			15
Thereafter			—
Total			$	434

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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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