The biggest radio company in the U.S. is mired in an uncertain advertising market, although the 2024 elections will provide a boost.
After fourth-quarter revenue declined 5%, first-quarter revenue will be down 2% to flat, the company announced Thursday.
The windfall will help pay down debt for the radio giant, which held a minority stake in the PRO.
In the final week of 2023, the 20-stock music index gained 1.1% to 1,534.07.
The Billboard Global Music Index dropped 0.2% to 1,449.08, bringing its year-to-date gain to 24.1%.
The Billboard Global Music Index declined 0.3% to 1,390.68, lowering its year-to-date gain to 19.1%.
"Merchants of garbage," live music spending, rosy outlooks and more.
"We've never had more data, and yet, it's never been harder to win," an iHeart executive said.
The Billboard Global Music Index declined 1.9% this week as only 4 of the 21 stocks were in positive territory.
The radio company did see a 13% rise in podcasting revenue as it anticipates an overall recovery in the ad market later this year.
