iHeartMedia surges 7.5% as Netflix expands video podcast deal

iHeartMedia Inc. surged 7.5% on June 15 after Netflix Inc. expanded their exclusive video podcast partnership with three new star-driven shows.

"The expanded partnership brings some of today's most influential and culturally resonant voices to Netflix members," iHeartMedia said in a June 15 statement announcing the deal.

The new lineup includes "Suite 305 with Lele Pons," featuring Shakira as the debut guest; "The Martha Stewart Podcast"; and "Sibling Revelry with Kate Hudson and Oliver Hudson." They join 14 existing iHeartPodcasts on Netflix, including "The Breakfast Club," which recently launched as a live daily video show — Netflix's first-ever daytime live program. The Breakfast Club accounts for more than 40% of all podcast views on the platform, according to Podnews.

The expanded partnership supports iHeartMedia's strategy of monetizing its podcast library through video licensing, while giving Netflix a low-cost source of daily programming to retain subscribers between major series releases. The new shows will begin rolling out in the coming months, with iHeartMedia retaining all audio-only distribution rights.

Netflix, with more than 300 million paid memberships across 190 countries, has been adding podcast content to compete with YouTube for viewer attention. The strategy lowers content costs while boosting ad revenue and subscriber retention, according to Current, a media industry publication. iHeartMedia, the largest podcast publisher per Podtrac and Triton, generates more podcast downloads than the next two publishers combined.

The partnership expansion comes as streaming platforms pivot to video podcasts to capture younger demographics who expect visual elements alongside audio content. Hulu and Tubi have also added podcast programming in recent months. For iHeartMedia, the deal provides a new revenue stream through video licensing fees while maintaining all audio distribution rights across iHeartRadio and other platforms.

The stock's 7.5% gain outpaced the broader market, with the S&P 500 little changed on the session.

This article is for informational purposes only and does not constitute investment advice.