iHeartMedia remains the bellwether for radio in the U.S.: The 860-station, 10,000-employee company has more broadcast radio listeners today than it did a decade ago.
A Luminate study from December reports that 54% of millennials and 38% of Gen Z listeners discover new music through traditional AM-FM radio.
But the growth of streaming platforms like Spotify hasn’t been great for radio overall.
Other studies have suggested that radio is in decline and broadcast radio’s advertising share is declining and is expected to continue to do so.
iHeart Media and Audacy (internet radio network) are grappling with billions of dollars in debt. Both companies laid off dozens of employees in 2024.
How will the current debt affect those networks’ operations? Are more layoffs on the horizon? Will record companies cut their radio promotion resources accordingly, as they did in early 2024?
