10-25-13
In a one-on-one interview with Ryan Faughnder at the L.A. Times following the opening of the iHeartRadio Theater in L.A., Pittman told Faughnder "Radio is the last mass-reach, real-time medium. We've never been more important to the consumer or the advertiser." The Theater in Burbank, which opened with a performance by Katy Perry, will air tonight on the CW. Pittman also spoke about the master plan for iHeartRadio which is about building relationships with the consumer through massive reach, not making money right out of the gate.
"We build something big, powerful and strong and we'll figure out how to make money on it. We've built this theater, and we haven't pre-sold anything. We don't know how we'll make money on it, but it's important to who we are." Right now, there's probably no one that does anything like what we're doing with the iHeartRadio Theater in L.A., the iHeartRadio Theater in New York, the iHeartRadio music festival and the iHeartRadio Pool Party in the spring. We're building out all these major events for our listeners, and they'll all come together financially, eventually."
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