It’s been a tough time for iHeartMedia, which filed for Chapter 11 Bankruptcy in March this year. Business goes on for the company and its iHeartRadio streaming subsidiary though: it filed its latest quarterly financial results yesterday.
iHeartMedia’s quarterly revenues were $853.3m, down 3.5% year-on-year. iHeartMedia also recorded a positive operating income of $228.4m, although that was also down year-on-year from $262.5m in the second quarter of 2017.
There weren’t many details in the financial results about iHeartRadio and its streaming growth, bar a section noting “higher digital subscription revenue from our iHeartRadio on-demand service”. The company offers a mid-tier $4.99-a-month ‘Plus’ subscription adding more interactivity, as well as a $9.99-a-month ‘All Access’ subscription powered by Napster.
In January this year, iHeartRadio said that it had passed the 110 million registered users milestone, but it has not published stats for its active listeners – and how that has changed over time in response to streaming competition.
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