After doing TV deals with the CW, launching iHeartRadio, now launching the iHeartRadio Theater in Los Angeles, and garnering a variety of other big deals, iHeartmedia (formerly Clear Channel) Media is definitely making some massive moves in the world of radio.
When asked “How does iHeartRadio work for iHeartmedia (formerly Clear Channel) at a time when Internet radio doesn’t seem to be very profitable?”
Bob Pittman had this to say, “Remember, we do all this at an incremental cost. If you look at iHeartRadio, Pandora and all the Internet radio players, it’s only 8% of all the listening. The other 92% is broadcast radio, so we’ve not forgotten where the monster is. Actually, broadcast radio has increased, and digital is in addition to that, so this is really a time of feast for the radio business, and I think the Internet has really helped us expand our reach.”
With that being said I pose a simple yet somewhat rhetorical question. Is this time of feasting only for the corporate conglomerates or does this statement include all parties involved in radio?
As for me, I actually agree that this is a time of feasting for everyone if and only if you are not bounded by the rules of the industry. Even with the dominance of the major corporations, I think this an excellent time for an independent if and only if they have a great business plan, extraordinary work ethic, a high level of creativity,and most importantly if they don’t confine themselves to the rules.