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REVENUE (Tables)
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table shows revenue streams for the Successor Company for the period from May 2, 2019 through December 31, 2019:
Successor Company
(In thousands)
Audio
 
Audio and Media Services
 
Eliminations
 
Consolidated
Period from May 2, 2019 through December 31, 2019
Revenue from contracts with customers:
 
 
 
 
 
 
 
  Broadcast Radio(1)
$
1,575,382

 
$
—

 
$
—

 
$
1,575,382

  Digital(2)
273,389

 
—

 
—

 
273,389

  Networks(3)
425,631

 
—

 
—

 
425,631

 Sponsorship and Events(4)
159,187

 
—

 
—

 
159,187

  Audio and Media Services(5)
—

 
167,292

 
(4,589
)
 
162,703

  Other(6)
13,017

 
—

 
(447
)
 
12,570

     Total
2,446,606

 
167,292

 
(5,036
)
 
2,608,862

Revenue from leases(7)
1,194

 
—

 
—

 
1,194

Revenue, total
$
2,447,800

 
$
167,292

 
$
(5,036
)
 
$
2,610,056


(1) 
Broadcast Radio revenue is generated through the sale of advertising time on the Company’s domestic radio stations.
(2) 
Digital revenue is generated through the sale of streaming and display advertisements on digital platforms, subscriptions to iHeartRadio streaming services, podcasting and the dissemination of other digital content.
(3) 
Networks revenue is generated through the sale of advertising on the Company’s Premiere and Total Traffic & Weather network programs and through the syndication of network programming to other media companies.
(4) 
Sponsorship and events revenue is generated through local events and major nationally-recognized tent pole events and include sponsorship and other advertising revenue, ticket sales, and licensing, as well as endorsement and appearance fees generated by on-air talent.
(5) 
Audio and media services revenue is generated by services provided to broadcast industry participants through the Company’s Katz Media and RCS businesses. As a media representation firm, Katz Media generates revenue via commissions on media sold on behalf of the radio and television stations that it represents, while RCS generates revenue by providing broadcast and webcast software and technology and services to radio stations, television music channels, cable companies, satellite music networks and Internet stations worldwide.
(6) 
Other revenue represents fees earned for miscellaneous services, including on-site promotions, activations, and local marketing agreements.
(7) 
Revenue from leases is primarily generated by the lease of towers to other media companies, which are all categorized as operating leases.
The following table shows revenue streams from continuing operations for the Predecessor Company. The presentation of amounts in the Predecessor periods has been revised to conform to the Successor period presentation.
Predecessor Company
(In thousands)
Audio(1)
 
Audio and Media Services(1)
 
Eliminations
 
Consolidated
Period from January 1, 2019 through May 1, 2019
Revenue from contracts with customers:
 
 
 
 
 
 
 
  Broadcast Radio
$
657,864

 
$
—

 
$
—

 
$
657,864

  Digital
102,789

 
—

 
—

 
102,789

  Networks
189,088

 
—

 
—

 
189,088

 Sponsorship and Events
50,330

 
—

 
—

 
50,330

  Audio and Media Services
—

 
69,362

 
(2,325
)
 
67,037

  Other
5,910

 
—

 
(243
)
 
5,667

     Total
1,005,981

 
69,362

 
(2,568
)
 
1,072,775

Revenue from leases
696

 
—

 
—

 
696

Revenue, total
$
1,006,677

 
$
69,362

 
$
(2,568
)
 
$
1,073,471

 
 
 
 
 
 
 
 
Year Ended December 31, 2018
Revenue from contracts with customers:
  Broadcast Radio
$
2,264,058

 
$
—

 
$
—

 
$
2,264,058

  Digital
284,565

 
—

 
—

 
284,565

  Networks
582,302

 
—

 
—

 
582,302

 Sponsorship and Events
200,605

 
—

 
—

 
200,605

  Audio and Media Services
—

 
264,061

 
(6,508
)
 
257,553

  Other
19,446

 
—

 
—

 
19,446

     Total
3,350,976

 
264,061

 
(6,508
)
 
3,608,529

Revenue from leases
2,794

 
—

 
—

 
2,794

Revenue, total
$
3,353,770

 
$
264,061

 
$
(6,508
)
 
$
3,611,323

 
 
 
 
 
 
 
 
Year Ended December 31, 2017
Revenue from contracts with customers:
  Broadcast Radio
$
2,292,116

 
$
—

 
$
—

 
$
2,292,116

  Digital
248,736

 
—

 
—

 
248,736

  Networks
581,733

 
—

 
—

 
581,733

 Sponsorship and Events
201,775

 
—

 
—

 
201,775

  Audio and Media Services
—

 
235,951

 
(6,511
)
 
229,440

  Other
28,545

 
—

 
—

 
28,545

     Total
3,352,905

 
235,951

 
(6,511
)
 
3,582,345

Revenue from leases
4,302

 
—

 
—

 
4,302

Revenue, total
$
3,357,207

 
$
235,951

 
$
(6,511
)
 
$
3,586,647

(1) 
Due to a re-evaluation of the Company’s internal segment reporting upon the effectiveness of the Plan of Reorganization, the Company’s RCS business is included in the Audio & Media Services results for all periods presented. See Note 1 for further information.
Barter and Trade Revenues and Expenses Table
Trade and barter revenues and expenses from continuing operations, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows:
 
Successor Company
 
 
Predecessor Company
 
Period from May 2, 2019 through December 31,
 
 
Period from January 1, 2019 through May 1,
 
Year Ended December 31,
(In thousands)
2019
 
 
2019
 
2018
 
2017
Consolidated:
 
 
 
 
 
 
 
 
  Trade and barter revenues
$
151,497

 
 
$
65,934

 
$
202,674

 
$
226,737

  Trade and barter expenses
134,865

 
 
58,330

 
199,982

 
190,906
Schedule of Changes in Contract Assets and Liabilities
The following tables show the Company’s deferred revenue balance from contracts with customers, excluding discontinued operations:
 
Successor Company
 
 
Predecessor Company
 
Period from May 2, 2019 through December 31,
 
 
Period from January 1, 2019 through May 1,
 
Year Ended December 31,
(In thousands)
2019
 
 
2019
 
2018
 
2017
Deferred revenue from contracts with customers:
 
 
 
 
 
 
 
 
  Beginning balance(1)
$
151,475

 
 
$
148,720

 
$
155,228

 
$
165,037

    Impact of fresh start accounting
298

 
 
—

 
—

 
—

    Revenue recognized, included in beginning balance
(102,237
)
 
 
(76,473
)
 
(115,930
)
 
(119,739
)
    Additions, net of revenue recognized during period, and other
112,532

 
 
79,228

 
109,422

 
109,930

  Ending balance
$
162,068

 
 
$
151,475

 
$
148,720

 
$
155,228

(1) 
Deferred revenue from contracts with customers, which excludes other sources of deferred revenue that are not related to contracts with customers, is included within deferred revenue and other long-term liabilities on the Consolidated Balance Sheets, depending upon when revenue is expected to be recognized. As described in Note 3, as part of the fresh start accounting adjustments on May 1, 2019, deferred revenue from contracts with customers was adjusted to its estimated fair value.
Schedule of Future Minimum Rental Commitments
As of December 31, 2019, the future lease payments to be received by the Successor Company are as follows:
(In thousands)
2020
$
1,462

2021
1,245

2022
858

2023
788

2024
690

Thereafter
10,020

  Total minimum future rentals
$
15,063

As of December 31, 2019, the Company's future minimum rental commitments under non-cancelable operating lease agreements with terms in excess of one year, minimum payments under non-cancelable contracts in excess of one year, capital expenditure commitments and employment/talent contracts consist of the following:
(In thousands)
 
 
 
 
 
 
Non-Cancelable
 
Non-Cancelable
 
Employment/Talent
 
Operating Leases
 
Contracts
 
Contracts
2020
$
129,324

 
$
134,440

 
$
91,868

2021
131,059

 
31,442

 
89,903

2022
124,343

 
5,784

 
69,324

2023
110,721

 
1,775

 
35,175

2024
100,667

 
1,175

 
35,160

Thereafter
762,811

 
2,334

 
—

Total
$
1,358,925

 
$
176,950

 
$
321,430