iHeartMedia, Inc. (NASDAQ:IHRT) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET

Company Participants

Michael McGuinness - EVP, Deputy Chief Financial Officer & Head of IR

Robert Pittman - Chairman & Chief Executive Officer

Richard Bressler - President, Chief Operating Officer & Chief Financial Officer

Conference Call Participants

Jessica Reif Ehrlich - BofA Securities

Steven Cahall - Wells Fargo

Sebastiano Petti - JPMorgan

Daniel Day - B. Riley Securities

Operator

Good day, and thank you for standing by. Welcome to the iHeartMedia First Quarter 2022 Earnings Call. [Operator Instructions] Please be advised today's call is being recorded. [Operator Instructions]

I would like to hand the conference over to your speaker today, Mr. Michael McGuinness, Deputy CFO. Please go ahead.

Michael McGuinness

Good afternoon, everyone, and thank you for taking the time to join us for our first quarter 2022 earnings call. Joining me for today's discussion are Bob Pittman, our Chairman and CEO; and Rich Bressler, our President, COO and CFO.

At the conclusion of our prepared remarks, management will take your questions. In addition to our press release, we have an investor presentation that you can use to follow along with our remarks.

Please note that this call may include forward-looking statements regarding our financial performance and operating results. These statements are based on management's current expectations, and actual results could differ from what is stated as a result of certain factors identified on today's call and in the company's SEC filings.

Additionally, this call will include certain non-GAAP financial measures. Reconciliations of non-GAAP financial measures are included in our earnings release, investor presentation and our SEC filings, which are available in the Investor Relations section of our website.

And now I'll turn the call over to Bob.

Robert Pittman

Thanks, Mike, and good afternoon, everybody. Thank you for joining our first quarter 2022 earnings conference call. We're pleased to report another quarter of strong results for iHeart during the quarter when we, like all businesses, faced a unique combination of macroeconomic challenges. We believe our performance this quarter is further evidence of the successful execution of our digital transformation and multi-platform strategy, which delivered solid results while operating in a turbulent macro environment.

The digital transformation of the company continues as a priority and the investments we've made and will continue to make in that effort present significant opportunities for the company to participate in exciting new and developing markets. Our recent announcement of the NFT-based Non-Fun Squad Media Franchise and our Super League roadblocks partnership are examples of how we think iHeart can leverage our existing non-cash resources to build a position in these exciting new Metaverse and Web3 areas.