12 Best Broadcasting Stocks to Buy Right Now

Page 3 of 11

9. iHeartMedia Inc. (NASDAQ:IHRT)

Number of Hedge Fund Holders: 15

iHeartMedia Inc. (NASDAQ:IHRT) is an audio media company in the US that operates a large network of radio stations. It also offers digital audio services, including iHeartRadio, podcasting, and digital advertising. It provides a range of audio content and services to listeners and advertisers.

The Multiplatform Group within the company experienced a slight decline in revenue during Q3 2024, with revenues down 1.1% year-over-year. Despite this setback, it’s pursuing strategies to do better in this segment. Future growth is expected to come from programmatic platforms for broadcast radio inventory. These platforms will enable the company to participate in the growing digital and programmatic advertising markets. Furthermore, iHeartMedia Inc. (NASDAQ:IHRT) possesses a unique value proposition by using its broadcast radio network to reach the “ignored consumer,” which is a significant demographic that other media outlets often overlook. The understanding of this segment comes from years of engagement with local communities.

The company unveiled a redesigned iHeartRadio app in December 2024. It featured easy access to favorite stations, a “Scan” button for discovering new stations, a “Live Radio Dial” for exploring stations by genre and location, and “What’s Trending” rankers for discovering popular content. The app also offers lyrics for songs on live radio and exclusive editorial content from iHeartMedia stations. Under this guise, Q4 2024 revenues are projected to increase by mid-single digits.

Page 3 of 11