The radio giant dominates terrestrial, but lags behind Pandora and Spotify online.
iHeartMedia revenue grew 2 percent to $847 million in the third quarter, according to the company's earnings released Thursday. Operating income before depreciation and amortization of non-cash charges, the company's preferred measure of operational performance, was flat at $326 million.
“We continue to leverage our entire company’s expansive portfolio of products, media platforms, content and personalities to enable advertisers and partners to engage seamlessly with consumers around the world,” said Bob Pittman, Chairman and Chief Executive Officer, in a statement.
iHeartMedia is commonly known as a radio company but also includes an outdoor advertising business. Revenue for the consolidated company declined 3.1 percent to $1.58 billion while OIBDAN fell 4.4 percent to $458 million. Due mainly to $454 million of interest expense related to the company's $20.6 billion in debt, the consolidated company's net loss in the quarter was $221.9 million.