iHeartMedia, Inc. announced today that media industry veteran Kareem Chin has been named Senior Vice President and Head of Investor Relations, effective today. Chin will be based in New York and will report to Rich Bressler, President, Chief Operating Officer and Chief Financial Officer of iHeartMedia, Inc.
In his new role, Chin will be managing iHeartMedia’s relationship with the investor community and ensuring that the company strategy is aligned with the needs of its equity holders following iHeartMedia’s listing on the NASDAQ exchange. In this role he will work closely with Bressler; Bob Pittman, Chairman and CEO of iHeartMedia, Inc.; Paul McNicol, EVP and General Counsel; and leaders of iHeartMedia’s Finance and Communications teams, and will oversee the company’s investor conferences, investor meetings and quarterly earnings releases and financial filings.
ASCAP, The American Society of Composers, Authors and Publishers, announced that its total revenues for 2018 topped $1.227 billion, an increase of 7% over 2017. Additionally, ASCAP distributions crossed the $1 billion mark for the second year in a row, with $1.109 billion in royalties paid out to its songwriter, composer and publisher members. Distributions increased by $102 million, up 10% year-over-year.
ASCAP domestic revenue from US music licensing surpassed the prior year by 7% to hit $906 million. Key licensing categories saw significant organic growth: Audio Streaming revenue was up by 25% and Audio Visual by 7% year-over-year. General and Background revenue, which encompasses more than 800,000 bars, grill