iHeartMedia, Inc. Reports Results for 2019 Fourth Quarter and Full Year

San Antonio, TX, February 27, 2020 - iHeartMedia, Inc. (Nasdaq: IHRT) today reported financial results for the quarter and year ended December 31, 2019.

“We are extremely proud of all that iHeart and its employees accomplished in 2019. After emerging from Chapter 11 in May with a healthier capital structure and listing on the Nasdaq in July, we continued to execute on our strategic plans to build our strong operating business and drive shareholder value,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc. “As the number one audio company in the U.S. based on reach, we look forward to expanding our unequaled multi-platform leadership position and leveraging the investments that we have made to modernize our infrastructure and become more efficient, effective and competitive. The audio environment has never been more exciting, and we look forward to leading - and capitalizing on it in 2020 and beyond.”

“Our financial performance in 2019 was underpinned by the reach and resilience of our traditional business, profitable growth in our other platforms including our Digital businesses and proactive improvement of our capital structure,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “Through our innovation and thought leadership in areas like podcasting and our SmartAudio suite of targeting, analysis and attribution services for advertisers, we are at the forefront of driving the audio revolution. We will continue to work to build long-term shareholder value by maximizing our Free Cash Flow and de-leveraging our balance sheet.”

About iHeartMedia, Inc.

iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with 90% of Americans listening to iHeart broadcast radio in every month. iHeart’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet; twice the size of the next largest broadcast radio company; and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to Podtrac, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, with seven times more followers than the next audio media brand, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information.