Another name change for Clear Channel. It was about two years ago when the company dumped "Radio" for Clear Channel Media and Entertainment. On Tuesday, just a few days before the 4th annual iHeartRadio Music Festival in Vegas, the company will now be known as the much shorter iHeartMedia. In announcing the new name, CEO Bob Pittman said, "iHeartMedia reflects our commitment to being the media company that provides the most entertainment to the most engaged audiences wherever they go, with more content and more events in more places on more devices." The New York Times chimes in on the change. AdAge does the same.
From the company press release: "The newly named company includes a wide range of advertising-supported, consumer-focused media businesses, including 859 radio stations in over 150 markets, with more than 245 million listeners a month -- the largest reach of any radio or television outlet in America; iHeartMedia Digital, with its more than 90 million digital monthly uniques; Premiere Networks, which syndicates 90 radio programs and services to more than 5,500 radio affiliates; the Total Traffic and Weather Network, reaching almost all U.S. commuters; 20,000 live music events, all of which generate massive consumer engagement on social media platforms and the largest of which are even televised; its related companies, including Katz Media Group; as well as Clear Channel Outdoor, one of the world's largest outdoor advertising companies.
Pittman went on to say, "We have massive consumer reach and influence across our platforms because we know how to program the live content people want to hear, see and share right now, we are the largest mobile media company in existence -- more than 60 percent of our broadcast usage is out of home, compared to just 30 percent for other mobile devices, and we deliver more live programming than any other media company today, built on the national and local on-air personalities who are the heart of our powerful broadcast radio franchises. Combined with Clear Channel Outdoor's reach of over half a billion people worldwide across 30 countries and five continents, it's clear that no other company can match our reach or broad spectrum of media platforms."
Clear Channel Outdoor Holdings will retain the Clear Channel brand.
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