What Happened?

Shares of global media and entertainment company iHeartMedia (NASDAQ: IHRT) jumped 4.1% in the afternoon session after 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.

The shares closed the day at $4.55, up 3.5% 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 5 days ago when the stock gained 11.5% as the company's shares became the focus of social media-driven traders, turning it into a so-called 'meme stock'. 

The stock experienced a surge in trading activity, similar to what its industry peer, Beasley Media Group, saw the previous day. Reports indicated that traders in online chat rooms, like those on Discord, and on the social media platform X, were actively encouraging the purchase of iHeartMedia shares. This coordinated buying effort aimed to drive the price higher, leading to brisk trading volume and a sharp upward movement in the stock's value.

iHeartMedia is up 125% since the beginning of the year, but at $4.54 per share, it is still trading 11.1% 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 $365.73.

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