V103

What V103 does

V103 (call letters WVAZ-FM) is a Chicago-based FM radio station operating on 102.7 MHz, owned and operated by iHeartMedia, Inc. (NASDAQ: IHRT), a publicly traded media conglomerate incorporated in Texas. Branded as 'The Chi's Home for R&B and Throwbacks,' the station broadcasts an urban adult contemporary format centered on R&B and classic soul music, serving listeners throughout the Chicago metropolitan area. The station's content slate combines syndicated national programming—most notably the Steve Harvey Morning Show—with locally produced shows hosted by on-air personalities including Bioncé Foxx, Joe Soto, The Sweat Hotel, and ya girl Cheron.

Distribution is multi-modal: traditional over-the-air FM broadcast on 102.7 MHz is supplemented by digital streaming through the iHeartRadio mobile application and the station's website (v103.iheart.com). The station also maintains an on-demand podcast portfolio including Women Inspire Chicago!, The Joe Soto Podcast, The Bioncé Foxx Soapbox, Northwestern Medicine Voices Of Better Medicine For V103, We'll Just Agree to Disagree, and The Pod Squad. Supplementary features include an event calendar, contest and promotion mechanics, an email newsletter, and on-demand traffic and weather reporting.

V103's revenue model is exclusively advertising-based. The station generates income by selling airtime, sponsorships, and promotional partnerships to local businesses and national brands seeking access to Chicago's urban adult contemporary audience. Identifiable advertising and sponsorship partners include Northwestern Medicine (healthcare content partnership), Ravinia Festival and Cincinnati Music Festival (event ticket giveaways), Amy Witherite / 1-800-Truck Wreck (legal services), and Maybelline (consumer products). Pricing is quote-based and not publicly disclosed. The station does not sell products or subscriptions directly to end consumers; listener engagement is the monetization vehicle through which advertising inventory is sold.

Name

V103

Legal name

iHeartMedia, Inc.

Website

https://v103.com

Company type

Public

Operating status

Operating

Short description

V103 (WVAZ-FM, 102.7 MHz) is a Chicago urban adult contemporary radio station owned by iHeartMedia, serving Chicago metropolitan area listeners with R&B and classic soul music, syndicated and local personalities, and digital streaming via iHeartRadio. Revenue is generated exclusively through advertising and sponsorship sales.

Ownership category

akta.pro rank

Product category

Radio Broadcasting

NAICS

Radio Broadcasting Stations (516110), Radio Broadcasting Stations (51611)

SIC

Radio Broadcasting Stations (4832)

akta.pro primary industry

Commercial Terrestrial Radio Broadcasting (AM/FM) (MPAIAEAA)

akta.pro secondary industries

Internet Radio & Streaming Broadcast Stations (Simulcast/Online-only) (MPAIAEAE), Network-Affiliated Local Radio Stations (News/Talk/Sports Syndication Affiliates) (MPABACAF)

Keywords

• Broadcast radio station
• Urban adult contemporary
• Radio advertising sales
• Music streaming platform
• Podcast production

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Advertising and Sponsorships: Traditional broadcast radio revenue model driven by selling advertising airtime to local and national businesses. The station features sponsored content, on-air mentions, and promotional campaigns for advertisers. Advertise page (tel:1-844-844-iHeart) and contest sponsorships (e.g., Amy Witherite truck wreck attorney, Maybelline) indicate commercial advertising as primary revenue stream.

Distribution channels3 records

Marketing channels5 records

Core offering

V103 is a Chicago-market FM radio station (102.7 FM, WVAZ-FM) operating an R&B and throwback music format with live on-air shows, podcasts, on-demand content including traffic and weather updates, and listener contests and promotions. Programming is delivered via over-the-air FM broadcast, the iHeartRadio digital platform, and the station's website, monetized primarily through advertising sales to local and national advertisers.

Product overview

V103 is a Chicago-based FM radio station (102.7 FM) operated by iHeartMedia, serving as 'The Chi's Home for R&B and Throwbacks.' The platform operates as a unified media offering combining live radio broadcasting through on-air shows (Steve Harvey Morning Show, Bioncé Foxx, Joe Soto, The Sweat Hotel, ya girl Cheron), on-demand podcast content (The Joe Soto Podcast, The Bioncé Foxx Soapbox, Women Inspire Chicago!, Northwestern Medicine Voices Of Better Medicine For V103), and supplementary features including contests, an event calendar, and the iHeartRadio mobile app. The station's digital presence extends across the iHeartRadio platform, enabling live streaming and podcast access alongside traditional over-the-air broadcasting.

Differentiator

Problem solved

Functional benefit

Products and services

• V103 102.7 FM Radio Broadcasting Over-the-air FM radio broadcasting service delivering an R&B and throwback music format, live on-air shows, traffic and weather reports, and locally programmed content to the Chicago metropolitan area audience, monetized through advertising sales.
• V103 On-Air Live Shows Daypart live personality programming on V103, featuring locally produced shows and iHeartMedia nationally syndicated shows such as The Steve Harvey Morning Show.
• V103 Podcasts and On-Demand Content On-demand audio content and podcasts produced and distributed by V103, accessible through the iHeartRadio digital platform and station website for listeners outside the FM broadcast area or seeking time-shifted listening.

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• Northwestern MedicineminorStrategic or Co-development PartnerNorthwestern Medicine serves as a content partner with V103, producing the 'Northwestern Medicine Voices Of Better Medicine For V103' podcast. This health-focused podcast provides medical information and wellness content to the Chicago radio audience, demonstrating community health programming partnerships between healthcare providers and local media.
• Ravinia FestivalminorGTM or Marketing PartnerRavinia Festival partners with V103 for concert ticket giveaways, including lawn passes for performances featuring Erykah Badu and Gladys Knight. The partnership promotes Ravinia Festival events to V103's Chicago audience through contest sponsorships and on-air giveaways.
• Cincinnati Music FestivalminorGTM or Marketing PartnerV103 promotes and offers contest giveaways for Cincinnati Music Festival trips, providing travel prizes to station listeners. This cross-market partnership extends station engagement beyond Chicago to regional music festival audiences.
• Amy Witherite (1-800-Truck Wreck)minorGTM or Marketing PartnerAmy Witherite law firm sponsors a $2,500 Chic Bag giveaway promotion on V103, representing a local business advertising partnership. The 'Chic Bag' contest targeting female Chicago listeners demonstrates local business advertising and sponsorship model.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• WGCI-FM 107.5: Sister iHeartMedia Chicago station at 107.5 FM, also targeting urban audiences with hip-hop and R&B. V103 and WGCI compete directly for the same Chicago listenership and ad dollars within iHeart's own portfolio.
• WDAS-FM 105.3: iHeartMedia-owned Urban AC station in Philadelphia serving a comparable major-market African American audience with R&B and classic soul programming — the closest format analog to V103 in another top-10 US market.
• WPWX Power 92.3: Another iHeartMedia Chicago station at 92.3 FM focused on hip-hop and R&B. Closely comparable in geography and target demographic to V103, competing for the same urban listeners and Chicago advertisers.
• KMJQ Majic 102.1: Urban AC station serving the Houston market with an R&B and classic soul format very similar to V103. Provides a directly comparable format benchmark in another top-10 US radio market.

Broad incumbents

• Cumulus Media: Major US radio station operator with significant footprint in multiple markets. Provides a peer benchmark for station-level revenue, ad sales dynamics, and digital extension strategies competing against iHeartMedia.
• Audacy: Large US radio broadcaster with stations and digital platforms in major markets. Competes with iHeartMedia for national ad budgets and offers comparable urban format stations in select DMAs.
• iHeartMedia (corporate): The parent company and largest US radio operator. V103's strategic, financial, and operational trajectory is set within the broader iHeartMedia portfolio, making the parent the most directly comparable benchmark for station-level economics.

Emerging players

• Pandora: Streaming audio service owned by SiriusXM with lean-back radio-style listening that directly substitutes for broadcast radio. Competes for both V103's listeners and a portion of its Chicago advertiser spend.
• SiriusXM: Subscription satellite and streaming audio service offering curated R&B, classic soul, and talk channels. Competes with V103 for listener time and for advertising budgets shifting toward streaming audio, especially in vehicles.

Others

• Spotify: Leading on-demand audio streaming platform that captures music listening hours and podcast advertising dollars increasingly diverted from broadcast radio, including R&B and throwback catalog consumption.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/V103
• Facebookfacebook.com/V103Chicago

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about V103