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Deals with streamers helps radio-focused iHeart pivot during Q2
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Net loss narrowed slightly to $82.5 million, compared with a net loss of $83.5 million in the prior-year quarter.
Expenses were slightly higher, while a $1.6 million loss on investments added pressure to results.
Revenue in the segment declined 1.6 percent, helped by $10.1 million in political advertising revenue.
Broadcast radio revenue was nearly flat at $397.6 million, compared with $395.8 million a year earlier.
He specifically cited streaming video distribution through Netflix, Disney Plus and Hulu as part of a broader strategy to help differentiate the company’s revenue-generating opportunities.