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REVENUE (Tables) | 9 Months Ended
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Sep. 30, 2025
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, 2025 and 2024:
(In thousands) | Multiplatform Group |  | Digital Audio Group |  | Audio & Media Services Group |  | Eliminations |  | Consolidated
Three Months Ended September 30, 2025
Revenue from contracts with customers: |  |  |  |  |  |  |  |  |
Broadcast Radio(1) | $ | 427,024 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 427,024 |
Networks(2) | 114,273 |  |  | — |  |  | — |  |  | — |  |  | 114,273 |
Sponsorship and Events(3) | 45,504 |  |  | — |  |  | — |  |  | — |  |  | 45,504 |
Digital, excluding Podcast(4) | — |  |  | 202,018 |  |  | — |  |  | (1,128) |  |  | 200,890 |
Podcast(5) | — |  |  | 139,673 |  |  | — |  |  | — |  |  | 139,673 |
Audio & Media Services(6) | — |  |  | — |  |  | 66,605 |  |  | (1,365) |  |  | 65,240 |
Other(7) | 4,140 |  |  | — |  |  | — |  |  | — |  |  | 4,140 |
Total | 590,941 |  |  | 341,691 |  |  | 66,605 |  |  | (2,493) |  |  | 996,744 |
Revenue from leases(8) | 266 |  |  | — |  |  | — |  |  | — |  |  | 266 |
Revenue, total | $ | 591,207 |  |  | $ | 341,691 |  |  | $ | 66,605 |  |  | $ | (2,493) |  |  | $ | 997,010 |
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 |
Total | 619,425 |  |  | 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 |
(In thousands) | Multiplatform Group |  | Digital Audio Group |  | Audio & Media Services Group |  | Eliminations |  | Consolidated
Nine Months Ended September 30, 2025
Revenue from contracts with customers: |  |  |  |  |  |  |  |  |
Broadcast Radio(1) | $ | 1,163,549 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,163,549 |
Networks(2) | 321,549 |  |  | — |  |  | — |  |  | — |  |  | 321,549 |
Sponsorship and Events(3) | 110,610 |  |  | — |  |  | — |  |  | — |  |  | 110,610 |
Digital, excluding Podcast(4) | — |  |  | 552,829 |  |  | — |  |  | (3,412) |  |  | 549,417 |
Podcast(5) | — |  |  | 390,005 |  |  | — |  |  | — |  |  | 390,005 |
Audio & Media Services(6) | — |  |  | — |  |  | 193,664 |  |  | (4,105) |  |  | 189,559 |
Other(7) | 12,627 |  |  | — |  |  | — |  |  | — |  |  | 12,627 |
Total | 1,608,335 |  |  | 942,834 |  |  | 193,664 |  |  | (7,517) |  |  | 2,737,316 |
Revenue from leases(8) | 448 |  |  | — |  |  | — |  |  | — |  |  | 448 |
Revenue, total | $ | 1,608,783 |  |  | $ | 942,834 |  |  | $ | 193,664 |  |  | $ | (7,517) |  |  | $ | 2,737,764 |
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 |
Total | 1,688,370 |  |  | 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 |
(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) | 2025 |  | 2024 |  | 2025 |  | 2024
Trade and barter revenues | $ | 131,528 |  |  | $ | 87,768 |  |  | $ | 256,888 |  |  | $ | 198,350 |
Trade and barter expenses | 68,215 |  |  | 67,243 |  |  | 166,778 |  |  | 159,210 |
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) | 2025 |  | 2024 |  | 2025 |  | 2024
Deferred revenue from contracts with customers: |  |  |  |  |  |  |
Beginning balance(1) | $ | 195,763 |  |  | $ | 181,883 |  |  | $ | 173,766 |  |  | $ | 181,899 |
Revenue recognized, included in beginning balance | (70,328) |  |  | (63,013) |  |  | (117,940) |  |  | (115,463) |
Additions, net of revenue recognized during period, and other | 44,172 |  |  | 64,627 |  |  | 113,781 |  |  | 117,061 |
Ending balance | $ | 169,607 |  |  | $ | 183,497 |  |  | $ | 169,607 |  |  | $ | 183,497 |
(1)Deferred revenue from 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.

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