iHeartMedia Inc (NASDAQ: IHRT) shares climbed 25% on Tuesday after Bloomberg reported that Netflix Inc (NASDAQ:NFLX, ETR:NFC) is in discussions to license video podcasts from the media company.
Bloomberg, citing people familiar with the matter, said Netflix is seeking exclusive rights to video versions of iHeartMedia’s popular podcasts, which would prevent full episodes from being uploaded to YouTube.
The move would help Netflix compete more directly with YouTube in the video podcast space.
iHeartMedia, which produces podcasts such as "The Breakfast Club" and "Las Culturistas," also owns several radio stations throughout the US.
The potential agreement would provide iHeartMedia with a new distribution channel and revenue stream.
Last month, Netflix struck a similar deal with Spotify to add several of Spotify's most popular video podcasts to its streaming service beginning in early 2026.