Podcasts Help Brighten iHeart Quarterly Earnings Report

BusinessMediaPodcasts Help Brighten iHeart Quarterly Earnings ReportByFrank Racioppi,Contributor.Forbes contributors publish independent expert analyses and insights. Frank Racioppi is the owner of Ear Worthy, focusing on podcasts.Follow AuthorMay 13, 2026, 01:59pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ATLANTA, GEORGIA - APRIL 25: Tika Sumpter attends the 2026 Black Effect Podcast Festival at Pullman Yards on April 25, 2026 in Atlanta, Georgia. (Photo by Paras Griffin/Getty Images)Getty ImagesiHeartMedia reported Quarter One 2026 results on May 11, 2026, showing a 9.6 percent revenue increase to $884 million driven by a 26.9 percent surge in podcast revenue ($147M). However, adjusted EBITDA fell 11.4 percent to $93 million due to soft ad markets, and the company announced further cost-cutting, posting a $96 million net loss.For podcast industry followers and fans, the big news here is the significant contribution made by iHeart podcasts to these quarterly results and more specifically, profits.The company reported that: “Podcasting continued to be a robust growth area at iHeartMedia during the first quarter, as the company posted another strong gain in podcast revenue.” iHeart executives insisted that video is going live this month on its flagship iHeartRadio app as its vision stretches from traditional audio into video, streaming platforms and even Netflix.Despite the plans to deploy video, CEO Bob Pittman claims that video represents a major new revenue opportunity, but he still doesn’t see it overtaking audio listening. Pittman instead says it remains incremental to audio episodes.“It’s not the same usage case. It’s another time in which people are doing it. And now that we’re able to get the video podcast in there, it opens up a new revenue stream,” Pittman told analysts during a call with analysts Monday. “The big concept here is that we found yet another market that we can play...