iHeart Streaming Crosses 120M
Yesterday iHeart announced that its streaming service had surpassed 120M registered users. While the headline looks impressive it’s important to note this is the total number of people who have ever signed up over the lifetime of the platform, and not a reflection of active users. According to Triton’s latest Webcast Metrics ratings, iHeart averages 393,000 streaming listeners at any given moment, Mon-Sun 6a-12Mid. For comparison both Pandora and Spotify have well over 2M Average Active Users. Obviously there’s quite a distance between 393,000 and 120,000,000 listeners, but that’s a small detail iHeart failed to disclose in its presser. 🙂
The other unknown with iHeart’s streaming platform is its revenue numbers. They don’t disclose streaming-only ad revenue on its addressable side or any paid subscription numbers. To me that’s a sure sign they’re still not really monetizing the platform properly.
Obviously streaming is a must-have for all broadcasters these days, as way to stay relevant in the digital age. iHeart is running this play as well as anyone on the terrestrial side, but that’s akin to being the tallest midget in the streaming space.