XML 32 R20.htm IDEA: XBRL DOCUMENT v3.24.3
REVENUE (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables show revenue streams for the three and nine months ended September 30, 2024 and 2023:
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupEliminationsConsolidated
Three Months Ended September 30, 2024
Revenue from contracts with customers:
  Broadcast Radio(1)
$448,808 $— $— $— $448,808 
  Networks(2)
115,310 — — — 115,310 
  Sponsorship and Events(3)
50,329 — — — 50,329 
  Digital, excluding Podcast(4)
— 186,996 — (1,189)185,807 
  Podcast(5)
— 114,045 — — 114,045 
  Audio & Media Services(6)
— — 90,050 (1,313)88,737 
  Other(7)
4,978 — — — 4,978 
     Total619,425 301,041 90,050 (2,502)1,008,014 
Revenue from leases(8)
119 — — — 119 
Revenue, total$619,544 $301,041 $90,050 $(2,502)$1,008,133 
Three Months Ended September 30, 2023
Revenue from contracts with customers:
  Broadcast Radio(1)
$455,103 $— $— $— $455,103 
  Networks(2)
116,334 — — — 116,334 
  Sponsorship and Events(3)
49,500 — — — 49,500 
  Digital, excluding Podcast(4)
— 164,559 — (1,222)163,337 
  Podcast(5)
— 102,663 — — 102,663 
  Audio & Media Services(6)
— — 61,979 (1,373)60,606 
  Other(7)
5,210 — — — 5,210 
Total626,147 267,222 61,979 (2,595)952,753 
Revenue from leases(8)
236 — — — 236 
Revenue, total$626,383 $267,222 $61,979 $(2,595)$952,989 
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupEliminationsConsolidated
Nine Months Ended September 30, 2024
Revenue from contracts with customers:
  Broadcast Radio(1)
$1,233,636 $— $— $— $1,233,636 
  Networks(2)
323,952 — — — 323,952 
  Sponsorship and Events(3)
117,279 — — — 117,279 
  Digital, excluding Podcast(4)
— 516,433 — (3,549)512,884 
  Podcast(5)
— 309,190 — — 309,190 
  Audio & Media Services(6)
— — 229,300 (4,025)225,275 
  Other(7)
13,503 — — — 13,503 
Total1,688,370 825,623 229,300 (7,574)2,735,719 
Revenue from leases(8)
544 — — — 544 
Revenue, total$1,688,914 $825,623 $229,300 $(7,574)$2,736,263 
Nine Months Ended September 30, 2023
Revenue from contracts with customers:
  Broadcast Radio(1)
$1,267,493 $— $— $— $1,267,493 
  Networks(2)
346,456 — — — 346,456 
  Sponsorship and Events(3)
120,297 — — — 120,297 
  Digital, excluding Podcast(4)
— 475,291 — (3,627)471,664 
  Podcast(5)
— 276,181 — — 276,181 
  Audio & Media Services(6)
— — 189,134 (4,077)185,057 
  Other(7)
15,719 — — — 15,719 
Total1,749,965 751,472 189,134 (7,704)2,682,867 
Revenue from leases(8)
1,375 — — — 1,375 
Revenue, total$1,751,340 $751,472 $189,134 $(7,704)$2,684,242 

(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
September 30,		Nine Months Ended
September 30,
(In thousands)2024202320242023
  Trade and barter revenues$87,768 $77,228 $198,350 $175,492 
  Trade and barter expenses67,243 49,995 159,210 128,902 
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)2024202320242023
Deferred revenue from contracts with customers:
  Beginning balance(1)
$181,883 $184,827 $181,899 $157,910 
    Revenue recognized, included in beginning balance(63,013)(73,407)(115,463)(102,588)
    Additions, net of revenue recognized during period, and other64,627 84,600 117,061 140,698 
  Ending balance$183,497 $196,020 $183,497 $196,020 
(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, 2024, the future lease payments to be received by the Company are as follows:
(In thousands)
2024$100 
2025149 
202682 
202741 
202825 
Thereafter5 
  Total$402