What Happened?

Shares of global media and entertainment company iHeartMedia (NASDAQ: IHRT) jumped 2.7% in the afternoon session after the company announced a strategic integration with Viant Technology to improve targeted advertising capabilities. 

The partnership was set to deliver enhanced addressability and measurement across iHeartMedia's network, which included podcasts, streaming, and broadcast radio. This integration allowed advertisers using Viant's platform to run more precisely targeted campaigns across iHeart's extensive audio inventory. By improving how ads were delivered to specific audiences, the collaboration aimed to make advertising on its platforms more effective for clients, which investors viewed as a positive step for future revenue.

After the initial pop the shares cooled down to $4.41, up 2.9% from previous close.

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What Is The Market Telling Us

iHeartMedia’s shares are extremely volatile and have had 71 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 2 days ago when the stock gained 4.1% on the news that the company announced an exclusive video podcasting partnership with Netflix. 

The deal brought video versions of more than 15 of iHeartMedia's original podcasts to the streaming service, including popular shows like "The Breakfast Club" and "My Favorite Murder." New video episodes, along with select past episodes, were scheduled to launch on Netflix in early 2026, starting in the U.S. before expanding to other markets. 

Under the agreement, iHeartMedia kept the audio-only rights, ensuring its podcasts remained available on iHeartRadio and other audio platforms. This move provided iHeartMedia's content with a significant new platform, potentially reaching a wider audience through Netflix's vast subscriber base.

iHeartMedia is up 118% since the beginning of the year, but at $4.41 per share, it is still trading 13.6% below its 52-week high of $5.10 from December 2025. Investors who bought $1,000 worth of iHeartMedia’s shares 5 years ago would now be looking at an investment worth $353.82.

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