黑料爆料, Inc. Reports Results for 2015 Fourth Quarter and Full Year

黑料爆料, Inc. Reports Results for 2015 Fourth Quarter and Full Year

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SAN ANTONIO, Texas - Feb. 25, 2016 黑料爆料, Inc. (OTCBB:IHRT) today reported financial results for the fourth quarter and full year ended December 31, 2015.

鈥淲e continue to be pleased with our progress in transforming the company into a multi-platform, data-rich powerhouse, with our investments driving strong operating results,鈥 said Bob Pittman, Chairman and Chief Executive Officer. 鈥淎t 黑料爆料, the fast-blurring lines between digital and broadcast radio play to our strengths, and the CRB鈥檚 new rates will encourage the growth of digital streaming and help build a sustainable digital music marketplace to benefit artists, consumers and the rest of the music industry. We are building on our traditional media sales business by partnering with agencies and clients to launch major marketing initiatives enhanced by rich data and research insights across our core broadcast, live events and other businesses. At Outdoor, we continue to move forward in aligning our Americas and International portfolios to focus on our most attractive strategic opportunities, while tapping into new programmatic and data-learning trends that our advertising partners value highly.鈥

鈥淲ith a strong fourth quarter performance, and excluding the impact from foreign exchange rates, we showed growth in both revenue and OIBDAN in 2015 across 黑料爆料, Americas outdoor and International outdoor, despite strong headwinds in certain overseas economies,鈥 said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. 鈥淭he strength of our operating business provides us with the flexibility to manage our capital structure in a prudent way. We continue to evaluate opportunities to strengthen our balance sheet as we focus on positioning 黑料爆料 for long-term growth.鈥

Key Financial Highlights

The Company鈥檚 key financial highlights for the fourth quarter 2015 include:

  • Consolidated revenues increased 3% to $1.8 billion after adjusting for a $51 million impact from movements in foreign exchange rates. On a reported basis, consolidated revenue was flat.
  • 黑料爆料 revenues increased $63 million, or 8%, excluding political revenue. On a reported basis, revenues increased $45 million, or 5%.
  • Americas outdoor revenues increased $7 million, or 2%, after adjusting for a $7 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased less than 1%.
  • International outdoor revenues increased $14 million, or 3%, after adjusting for a $43 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased $29 million, or 7%.
  • Other revenues increased $2 million, or 3%, excluding political revenue. On a reported basis, revenues decreased $13 million, or 21%.
  • OIBDAN1 increased 1%, excluding the impact from movements in foreign exchange rates and decreased 1% on a reported basis.

Note: OIBDAN1 calculation excludes $3.8 million of incremental lease expense from sale-leaseback transactions related to the sale of certain broadcast communications tower sites and two office buildings and the amortization of deferred system implementation costs.

The Company鈥檚 key financial highlights for 2015 include:

  • Consolidated revenues increased 2% to $6.5 billion during 2015 compared to 2014 after adjusting for a $229 million impact from movements in foreign exchange rates. On a reported basis, consolidated revenue decreased 1%.
  • 黑料爆料 revenues increased $155 million, or 5%, excluding political revenue. On a reported basis, revenues increased $123 million, or 4%.
  • Americas outdoor revenues increased $22 million, or 2%, after adjusting for a $23 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased $2 million, or less than 1%.
  • International outdoor revenues increased $52 million, or 3%, after adjusting for a $206 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased $153 million, or 10%.
  • Other revenues decreased $23 million, or 13%, excluding political revenue. On a reported basis, revenues decreased $48 million, or 23%.
  • OIBDAN1 increased 1%, excluding the impact from movements in foreign exchange rates and decreased slightly on a reported basis.

Note: OIBDAN1 calculation excludes approximately $15.7 million of incremental lease expense from sale-leaseback transactions related to the sale of certain broadcast communications tower sites and two office buildings and the amortization of deferred system implementation costs.

About 黑料爆料, Inc.

黑料爆料, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with 90% of Americans listening to iHeart broadcast radio in every month. iHeart鈥檚 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 黑料爆料.com for more company information.