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Clear Channel

AS CLEAR AS WE CAN MAKE IT: Clear Channel issued its Q1 earnings report today. Revenues were $1.3 billion, reflecting growth at Media + Entertainment (2%). The iHeartRadio brand featured prominently, notching a 66% increase in registered users against the prior year to 47 million, with listening hours up 13%; mobile represented 56% of those listening hours. OIBDAN (operating income before depreciation, etc.) hit $262m. “We continued to make progress this quarter in advancing our strategy of providing customized, multi-platform market solutions that nobody else can,” said CEO Bob Pittman. The exec highlighted iHeart pacts with Amazon Fire TV, Apple CarPlay and Samsung smartwatches, and pointed to the firm’s events business and the extension of iHeart “across an increasing number of media platforms,” including the recent Country fest and upcoming iHeartRadio Music Awards (airing on NBC on 5/1). Pittman also nodded to the recently announced mobile interactive ad platform Connect. CC Media stock (CCMO) was at $7.00 (-3.7%) at the time of this posting. To dig into the numbers, go here. (4/24p)

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