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Another take on the iHeartRadio strategy described above comes directly from the man at the top in an interview published in Billboard magazine. CEO Bob Pittman tells Billboard's Cathy Applefeld Olson that by offering consumers more ways to listen to iHeartMedia radio stations, the company is simply giving consumers more ways to listen to the radio. "We've always had radios in the car, radios by the bed and radios at work, and now we also have what are new radios to the consumer -- digital devices -- at workstations and in everyone's hands." Pittman says this is a very good thing for iHeartMedia, advertisers and the music industry.
On the question of competing with other digital players, Pittman says that's not the way the company looks a things. "We don't look at it as a crowded marketplace and don't look at is as iHeartRadio competing with digital players -- we look at it as a way to extend the reach of our traditional radio brands into new devices where the consumer expects to find us. And though 'almost 60 million' (unique visitors via mobile devices and desktop) sounds big in digital terms, it's only about a quarter of our reach in broadcast radio. Indeed, with broadcast radio alone we reach more consumers than Facebook, Google or broadcast TV networks in the U.S. What has been great for us is that consumers are loyal to the brands they love as long as the brands are loyal to them -- so by extending our reach onto all the devices and platforms where they want to find us, we are continuing to serve our listeners in all the ways they want."
Read the full Billboard story HERE
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