Very few large broadcasting corporations adopted digital platforms as quickly as iHeartMedia did. iHeartRadio is one of the most popular platforms for streaming content from a variety off stations. Bob Pittman says that does not mean the company does not see plenty of value in traditional broadcast radio.
Lydia Moynihan of The New York Post spoke with the iHeartMedia CEO Friday morning. She asked Pittman if he could foresee a day when the company would be done with terrestrial radio and focus solely on digital products.
“To the contrary – the strength and foundation of our company is our broadcast radio stations,” Pittman responded. “90% of Americans listen to iHeart broadcast radio stations every month. To put that in context, the biggest TV network reaches less than 40% of Americans and the big streaming music services reach less than 30%.”
He added that any success that the company has seen with podcasting or streaming is clearly linked to the success of the its radio stations. He said that is true for its live events too.
“We use that massive and unique reach of our broadcast radio to build complementary products like the iHeartRadio digital service and our major events like the iHeartRadio Music Festival, the iHeartRadio Music Awards and the iHeartRadio Jingle Ball Tour, and it’s why we’re the #1 podcast publisher by a lot. It all starts with using the trusted voices on our broadcast radio stations and creating demand – and with our unparalleled reach we have quite an advantage over the other audio players, regardless of their cash war chests.”
