iHeartMedia and Netflix Deepen Partnership for 'The Breakfast Club' Daily Video Stream
IHRT has more than doubled off its 52-week low of $1.17.
Summary
iHeartMedia is deepening its partnership with Netflix to offer a daily live video stream of its nationally syndicated radio show, 'The Breakfast Club.' This expands the reach of a popular iHeartMedia property onto a major streaming platform, potentially growing audience engagement and opening new monetization avenues. The partnership builds on iHeartMedia's recent positive earnings performance and ongoing strategic discussions.
At the time of this announcement, IHRT was trading at $4.92 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $649.3M. The 52-week trading range was $1.17 to $6.56. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.