Pittman & Hughes Inducted Into Ad HoF

4-21-15

Monday night was the 66th annual Advertising Hall of Fame induction ceremonies. Of the seven new inductees, two came from the radio industry: iHeartMedia Chairman and CEO Bob Pittman and Radio One Founder and Chairperson Catherine Hughes. Both were honored for their major contributions to advertising.

Other inductees at the event included John Adams of The Martin Agency; Lee CLow of TBWA/Media Arts Lab; Spike Lee of Spike DDB; Charles Porter of Crispin Porter + Bogusky; Linda Kaplan Thaler of Publicis Kaplan Thaler. Additionally, actor/author/philanthropist Michael J. Fox was presented with the President's Award for Special Lifetime Contributions to Advertising.

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Pittman: We've Added More Radio's

1-7-15

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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Pittman: Facebook Is The New Request Line

9-12-14

Both Clear Channel CEO Bob Pittman and CBS Radio President and CEO Dan Mason started their radio careers on the air spinning records. Today they run two of radio's largest companies. Both were on a panel called "From the Control Room to the Board Room" at the Radio Show. After hearing old airchecks from Pittman and Mason, dug up by the NAB's John David (who slipped in an old aircheck of his own), Pittman told the packed room that radio is a business where impatience pays off. "Urgency wins. It's better to do things sooner rather than later. We need to be trying new things. We're not going to beat technology, we need to figure out how to use it. Facebook is today's new request line."

Pittman says when he came into radio he was surprised at how much fighting for dollars inside the radio segment goes on and says other industries don't operate that way. "The TV guys stick together. When I was working at AOL, we all went and sold the Internet. We need to bring more money to this category. We have such a great product but we have not gotten our act together in telling the story." Pittman went on to say that the Nielsen/Catalina R.O.I. study that's been quoted so much this week is a step in the right direction. Pittman also says when he talks to advertisers who attend the iHeartRadio Festival or the Jingle Ball in New York (which sells out Madison Square Garden) he has them look at the audience and tells them, "This is the power of radio."

Pittman also said both CBS and Clear Channel are companies that put talent first. And, what some Clear Channel jocks may find surprising, Pittman listens to hundreds of Clear Channel stations every weekend, on iHeartRadio. And he's constantly sending Tom Poleman notes about those stations: Why are we doing this in this market? Why are we doing that in that market? He also admits the industry is not seeing enough young people come into the business and radio needs to figure out a way to fix that. "Programmers are our creative."

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Pittman Talks Debt With the Financial Times

6-9-14

In a piece entitled, "Clear Channel Chief Gambles on Wrestling its Debt," The Times writes that if CEO Bob Pittman is making any progress fixing Clear Channel's debt problems, it's been very slow. "Its radio revenue was up just 4 per cent in 2013. Pittman expects growth to accelerate, but even more important to averting bankruptcy has been a series of debt restructurings that have taken advantage of yield-hungry capital markets to push back a looming wall of maturities."
A recent $850 Million refinancing (with a 10% interest rate) pushed repayments back from 2014 and 2015 to 2018. The Times points out that Clear Channel?s expected interest expense of about $1.6bn in 2014 is about equal to its free cash flow. "The debt burden gives him little room for error, but like an experienced radio pitchman, he sounds confident that his $5m gamble will pay off. If the company?s not going to grow I?ll get no money back,? Pittman said, adding that because Clear Channel has so much leverage, it ?supercharges? any upside. His return, on a $5 million investment would be  ?50:100 to one if it works?.

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Pittman Makes 2014 People to Watch List

1-2-13

Clear Channel CEO Bob Pittman is one of ten people Advertising Age is keeping a close eye on in this year. The reason, according to the magazine, "The CEO has an all-star team in place, but will it be enough to overcome its debt burden -- and the challenges radio faces in a digital world?" Take a look at the entire Ad Age List HERE

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Pittman: iHeartRadio Theater's Will Make Money, Eventually

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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Now Bob Pittman Challenges Pandora

9-25-13

Radio's top executives seem to be taking a new stance when it comes to the Pandora numbers being pushed out -- and often believed without question. Perhaps they see an opportunity to splinter the space now that iTunesRadio has entered the fight. Last week at the RAIN summit in Orlando, Entercom CEO David Field took aim at the Internet Pure Play by stating, "Broadcast radio has 20 times the audience of Pandora." Today at the Goldman Sachs Media Conference in New York it was Clear Channel CEO Bob Pittman's turn.

Pittman said he wanted to bust a myth that's often believed when Pandora puts out listening numbers. "All of their radio stations added together don't even make the top 10 in New York. That's all of their stations added up. They don't even come close." Pandora has claimed, by adding up all of their listeners in certain cities, it would rank among some of the top stations in major markets. Pittman said those claims are not credible and radio is credible because the numbers come from an outside source. Pittman, as he often has in the past, described Pandora as a music collection while touting radio as a medium that has been remarkably stable and has relationships with listeners. "Listeners have a unique emotional attachment to radio," he said.

(9/26/2013 1:45:14 AM)
Pittman is historically correct, when he states that listeners have an emotional attachment to radio. They used to, but in many markets Pittman and Clear Channel have fired the proven talent, and dumbed down many of their stations with voice tracking. There is obviously no listener attachment to voice tracking. Then again, Pittman and Clear Channel owe 20 billion dollars to investors, so you can understand the urgency to cut costs, but they are destroying good radio stations in the process.
(9/25/2013 7:21:36 PM)
I'm really surprised that the entire radio community is against Pandora. Pandora is here and here to stay. It is a good and entertaining media. It is extremely popular. Pandora is good for radio it is solid competition. It force radio to up it's game. I call it the Tiger Woods factor. You don't see to many fat and out of shape guys on the PGA tour anymore. The crappy radio that I grew up with will all be gone shortly. Most radio has been horrible for a very long time and it's about to end.

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Pittman Tops Radio's Power List Again

7-16-13

He's never held any other position on our list of Most Powerful People in Radio. For the third consecutive year, Clear Channel CEO Bob Pittman has been named the Most Powerful Person in Radio. Not only is Bob Pittman leading America?s largest radio company, he is radio?s self appointed evangelist. Radio Ink Publisher Eric Rhoads says, "Bob Pittman is transforming Clear Channel and as a result, impacting all of radio. His influence ripples throughout the industry with every new innovation and decision." Pittman knows how to build enthusiasm and followers for his compelling message about radio. His pitch and his commanding personality have made him the master of communicating radio?s ?Gospel according to Pittman.? The most anticipated issue of Radio Ink Magazine, identifying the 40 Most Powerful People in Radio, is now making its way across the country to subscribers. Here is some of our interview with the person who wields much of that power.

Glassnote Records CEO Daniel Glass says of his friend Bob Pittman, ?I think he?s a leader. I think he sets the tone. He?s exciting, progressive. If you look at what he does with his events and the excitement of them, I think he is a lightning rod for attention, because he loves it. I think he really loves radio, deep down. He loves local radio and he loves national radio. I think what he set out to do a few years ago, when he came back to Clear Channel, was to make it friendly, to make it cool, make it progressive, give it a zip, build those bridges again ? as evidenced by, twice a year, we are invited into an open forum as an independent label to play our music in front of everyone, and they bring programmers in from all over the country. He was a broadcaster; he was a radio guy. I think he really respects DJs. When he walks in to work, people in the radio business know he?s one of them. He gives his people a lot of freedom, a lot of leeway. I am also very impressed with the team he has assembled. There is no doubt that he?s the guy.?

Pittman's advice to everyone in the industry, would be to recognize how important radio is. "We take our success for granted. TV is America?s hobby, and people treat those programs like they do their hobby. But radio is America?s companion. I think that it is a much more powerful medium. It may not be something that people consciously think of, like they do the new Game of Thrones episode, or who was slaughtered this week on Game of Thrones, but if you stop and figure out what you did today, and what you interacted with, radio is at the absolute epicenter of what we do and who we are. If we would, for one second, just pause and realize how important we are to the consumer, and therefore how important we are to advertisers, that would probably cause us, first, to feel better about programming radio. We would be a lot more excited about what we are doing every day. And second, it would also probably cause us to be confident in selling it to advertisers, because we would be certain that we are offering them a valuable service that they don?t have if they are not using radio,
or not using enough radio.

Though anyone leading Clear Channel will be subject to criticism, Pittman has been changing the dynamic for the debt-saddled company, and for all of radio, by personally opening doors and meeting with CEOs from America?s top brands. Others may not get their calls returned, but when Pittman calls, meetings happen.  and he knows he can?t grow Clear Channel without growing the radio industry as a whole. So radio has become his topic, from that bully pulpit atop radio?s biggest player. Some even see him as the industry?s savior.

To order a copy of the 2013 40 Most Powerful People in Radio issue of Radio Ink ($10.00) call 561-655-8778.
To subscribe to Radio Ink (20 issues) for one year and receive this issue on your digital device ($49.00) today Go HERE

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Pittman: iTunes Radio no Threat to Radio

6-11-13

Clear Channel Communications CEO Bob Pittman was quoted in the Wall Street Journal saying he doesn?t see Apple?s new product as a threat to terrestrial radio or iHeartRadio. He's said all along, especially when discussing Pandora that custom radio doesn?t appear to be a viable freestanding business."

Pittman told the Journal that, "while listeners tune in to FM radio to ?join the world,? they listen to custom radio services to have ?a very private experience,? and now that so many electronics makers and subscription streaming companies are offering personalized radio, it?s no longer the main event." Read the Journal story HERE

(6/11/2013 7:10:54 AM)
ITunes radio with SIRI functionality is part of a bigger push to penetrate autos and that is a threat to radio...

“What if you could get iOS on the screen that is built into your car,” Apple SVP Eddy Cue asked on-stage at WWDC. Turns out he wasn’t just being rhetorical — Apple has confirmed that it is working with a slew of car manufacturers to bring the iOS experience into cars (the initiative is called, unimaginatively enough, “iOS In The Car”)starting with in 2014.

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Is Bob Pittman Still The Most Powerful?

5-28-13

The debating has begun amongst the members of The Radio Ink editorial board. They get heated. Names get hashed out. Some get kicked off. Others are added on. The Radio Ink 40 Most Powerful is coming soon. For the past two years, Clear Channel's Bob Pittman was number one. Does he still carry the most power in the industry?

What about John Hogan, another Clear Channel power player? Will Cumulus' Lew Dickey, Dan Mason of CBS, David Field from Entercom still wield power? Have they moved the industry forward? Have they figured out how to tell "radio's story." We'll find out soon. To order your subscription before the release of the 40 Most Powerful GO HERE. Or, try our digital version HERE

Who do you believe holds the most power in the radio industry?

(6/1/2013 10:35:35 AM)
The lack of commentary on this article may be telling. Perhaps the issue is less about who has power and more about who has the most positive and worthwhile influence.

I'm not suggesting the list of such candidates is all that impressive, either.

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Pittman Joins NAB Radio Board Of Directors

4-30-13

NAB Radio Board Chairman Don Benson has appointed four radio CEOs to the NAB Radio Board of Directors, including Clear Channel CEO Bob Pittman. Bonneville CEO Jeff Simpson is also added, along with Perry Publishing and Broadcasting CEO Russell Perry and First Natchez Radio Group CEO Margaret Perkins.

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Pittman Teams With Westergren to Lobby Congress

10-25-2012

A lobbying group called the Internet Radio Fairness Coalition has launched and it has Clear Channel CEO Bob Pittman and Pandora Founder Tim Westergren on the same team. Pittman has never been a big fan of the Pandora business model but in this case the Internet music service's millions of users will come in handy as both men lobby Congress for friendlier royalty rates. Pittman and Westergren are joined by 10 other organizations to form this coalition and push for pending legislation to lower royalty rates.

Founding members of the Coalition include 977 Music, AccuRadio, Clear Channel Media and Entertainment, Computer and Communications Industry Association (CCIA), Consumer Electronics Association (CEA), Digital Media Association (DiMA), Digitally Imported, Engine Advocacy, National Religious Broadcasters Music License Committee (NRBMLC), Pandora (NYSE: P), Radio Paradise, Salem Communications, and the Small Webcaster Alliance (SWA). The Coalition website is www.InternetRadioFairness.com.

Pittman said, ?We believe that market-based solutions are the way to go. But in the absence of these agreements, the CRB needs to have and consider more relevant information so they are better able to develop a rate structure that will lead to a healthy, sustainable Internet radio marketplace. This will enable artists to earn more and connect more with their fans, consumers to have more choices, and entrepreneurs to invent and invest in new services.?

Westergren added, ?Legislation that establishes a fair royalty rate setting-standard for Internet radio will drive investment in webcasting, which ultimately offers greater opportunities and more revenue for working artists,? said Pandora Founder and Chief Strategy Officer, Tim Westergren. ?Internet radio has been shown to help decrease music piracy and increase music sales. When the digital music sector is allowed to grow and innovate, everybody wins.?

The Coalition?s mission is to urge Congress to support legislation (The Internet Radio Fairness Act of 2012, or IRFA), aimed at bringing the royalty system for Internet radio into the 21st century -- creating a sustainable business model for the industry that gives consumers more choices and more products for listening to the music they love; enables artists to earn more money as Internet radio grows; creates a marketplace that will attract entrepreneurs to invest in new, innovative ways to deliver music to the public; and drives higher revenues for record labels.

(10/26/2012 3:44:50 PM)
The NAB wants to keep the the higher streaming rates because they have invested in iBiquity's fraud.

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Pittman To Chair Radio Ink's Forecast 2013

7-25-2012

Radio Ink is pleased and honored to announce that Clear Channel CEO Bob Pittman will serve as radio chair of Forecast 2013. The annual radio financial summit will be held in New York City at the Harvard Club on November 28, 2012, one week after Thanksgiving. Radio Ink Chairman and Publisher Eric Rhoads said, "Bob is driven to change radio and help take us to the highest possible level of success. His influence on the agenda at this year's Forecast will focus on improving this industry, making this one of the most important Forecast conferences in history." Pittman has topped Radio Ink's "40 Most Powerful People in Radio" list for the last two consecutive years. 

Radio Ink EVP/Radio Deborah Parenti notes, "Forecast 2013 is our 10th annual summit and occurs in Radio Ink's 20th-anniversary year. In addition to having Bob put his unique stamp on the program, attendees can probably expect a few surprises along with the traditional highly focused and targeted agenda being planned."

Radio Ink's Forecast is the radio industry's exclusive financial conference, gathering radio owners, CEOs, CFOs, group executives, and managers with Wall Street and private equity investors and analysts to forecast the upcoming year. Well informed and noted economic, political, and media participants present trends, opportunities, projections, and analytical commentary on the state of business, especially as it impacts media. Now in its 10th year, Forecast has become the premium event in radio financial circles. The event is held at the Harvard Club in New York City and closed to the press.

Immediately following Forecast, Radio Ink's "40 Most Powerful People in Radio" are honored at an exclusive, invitation-only reception, also at the Harvard Club. Forecast attendees will get the exclusive opportunity to mingle with these industry luminaries. Only registered conference attendees are guaranteed invitations to this premier networking after-party. Attendance is limited to 200.

REGISTER FOR FORECAST HERE

(7/24/2012 10:58:02 PM)
Listeners and advertisers, indeed. Is this not like asking Iran to chair a nuclear non-proliferation conference? The main topic of discussion: "How to get away with even less servicing of the marketplaces."
(7/24/2012 9:54:44 PM)
Forecast 2013 will gather "radio owners, CEOs, CFOs, group executives, and managers with Wall Street and private equity investors and analysts to forecast the upcoming year."
OK... One BIG problem-- The BIGGEST categories that count - average RADIO LISTENERS, and RADIO ADVERTISING CLIENTS
are not invited to this conference!!... Wow. ... With those two most important groups missing, one could argue that the conference will simply be industry "insiders" all just "speculating" with each other!

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Pittman To Chair Radio Ink's Forecast 2013

7-25-2012

Radio Ink is pleased and honored to announce that Clear Channel CEO Bob Pittman will serve as radio chair of Forecast 2013. The annual radio financial summit will be held in New York City at the Harvard Club on November 28, 2012, one week after Thanksgiving. Radio Ink Chairman and Publisher Eric Rhoads said, "Bob is driven to change radio and help take us to the highest possible level of success. His influence on the agenda at this year's Forecast will focus on improving this industry, making this one of the most important Forecast conferences in history." Pittman has topped Radio Ink's "40 Most Powerful People in Radio" list for the last two consecutive years. 

Radio Ink EVP/Radio Deborah Parenti notes, "Forecast 2013 is our 10th annual summit and occurs in Radio Ink's 20th-anniversary year. In addition to having Bob put his unique stamp on the program, attendees can probably expect a few surprises along with the traditional highly focused and targeted agenda being planned."

Radio Ink's Forecast is the radio industry's exclusive financial conference, gathering radio owners, CEOs, CFOs, group executives, and managers with Wall Street and private equity investors and analysts to forecast the upcoming year. Well informed and noted economic, political, and media participants present trends, opportunities, projections, and analytical commentary on the state of business, especially as it impacts media. Now in its 10th year, Forecast has become the premium event in radio financial circles. The event is held at the Harvard Club in New York City and closed to the press.

Immediately following Forecast, Radio Ink's "40 Most Powerful People in Radio" are honored at an exclusive, invitation-only reception, also at the Harvard Club. Forecast attendees will get the exclusive opportunity to mingle with these industry luminaries. Only registered conference attendees are guaranteed invitations to this premier networking after-party. Attendance is limited to 200.

REGISTER FOR FORECAST HERE

(7/24/2012 10:58:02 PM)
Listeners and advertisers, indeed. Is this not like asking Iran to chair a nuclear non-proliferation conference? The main topic of discussion: "How to get away with even less servicing of the marketplaces."
(7/24/2012 9:54:44 PM)
Forecast 2013 will gather "radio owners, CEOs, CFOs, group executives, and managers with Wall Street and private equity investors and analysts to forecast the upcoming year."
OK... One BIG problem-- The BIGGEST categories that count - average RADIO LISTENERS, and RADIO ADVERTISING CLIENTS
are not invited to this conference!!... Wow. ... With those two most important groups missing, one could argue that the conference will simply be industry "insiders" all just "speculating" with each other!

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Pittman To Chair Radio Ink's Forecast 2013

7-25-2012

Radio Ink is pleased and honored to announce that Clear Channel CEO Bob Pittman will serve as radio chair of Forecast 2013. The annual radio financial summit will be held in New York City at the Harvard Club on November 28, 2012, one week after Thanksgiving. Radio Ink Chairman and Publisher Eric Rhoads said, "Bob is driven to change radio and help take us to the highest possible level of success. His influence on the agenda at this year's Forecast will focus on improving this industry, making this one of the most important Forecast conferences in history." Pittman has topped Radio Ink's "40 Most Powerful People in Radio" list for the last two consecutive years. 

Radio Ink EVP/Radio Deborah Parenti notes, "Forecast 2013 is our 10th annual summit and occurs in Radio Ink's 20th-anniversary year. In addition to having Bob put his unique stamp on the program, attendees can probably expect a few surprises along with the traditional highly focused and targeted agenda being planned."

Radio Ink's Forecast is the radio industry's exclusive financial conference, gathering radio owners, CEOs, CFOs, group executives, and managers with Wall Street and private equity investors and analysts to forecast the upcoming year. Well informed and noted economic, political, and media participants present trends, opportunities, projections, and analytical commentary on the state of business, especially as it impacts media. Now in its 10th year, Forecast has become the premium event in radio financial circles. The event is held at the Harvard Club in New York City and closed to the press.

Immediately following Forecast, Radio Ink's "40 Most Powerful People in Radio" are honored at an exclusive, invitation-only reception, also at the Harvard Club. Forecast attendees will get the exclusive opportunity to mingle with these industry luminaries. Only registered conference attendees are guaranteed invitations to this premier networking after-party. Attendance is limited to 200.

REGISTER FOR FORECAST HERE

(7/24/2012 10:58:02 PM)
Listeners and advertisers, indeed. Is this not like asking Iran to chair a nuclear non-proliferation conference? The main topic of discussion: "How to get away with even less servicing of the marketplaces."
(7/24/2012 9:54:44 PM)
Forecast 2013 will gather "radio owners, CEOs, CFOs, group executives, and managers with Wall Street and private equity investors and analysts to forecast the upcoming year."
OK... One BIG problem-- The BIGGEST categories that count - average RADIO LISTENERS, and RADIO ADVERTISING CLIENTS
are not invited to this conference!!... Wow. ... With those two most important groups missing, one could argue that the conference will simply be industry "insiders" all just "speculating" with each other!

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View the original article here

Bob Pittman, Radio's Most Powerful For 2012

The Radio Ink 40 Most Powerful People in Radio issue will be released today. At the top of that list for the second year in a row is Clear Channel CEO Bob Pittman. Pittman entered our Top 40 list in 2011 in the top spot, the first person ever to enter the list at #1. Pittman is the CEO of radio's largest company which, alone, will get all of his phone calls answered, and answered quickly. He has also become one of radio's biggest cheerleaders, always promoting the industry, always emphasizing how radio is undervalued for what it provides. Tack on the iHeartRadio device and events, the decades of previous business successes, and the recent deal with Big Machine Records, and the choice for the top spot for the second year in a row was an easy one for our editorial team to make.
Interim CEO at Yahoo, Ross Levinsohn, has known Pittman for over 20 years. He tells Radio Ink, "Radio has such a rich opportunity. I can see Bob redefining what it means to be in the music business across devices and screens globally. Bob Pittman is a rare combination of visionary, astute businessman, and leader of the pack. His charm and wit, style and substance have helped propel him through multiple adventures and resounding business successes. He?s a champion, and someone I would go to battle for.?
Pittman says leading a company as big as Clear Channel is all about building a team and collaborating, both within the company and withpartners. ?It?s about having a clear vision that everyone can believe in, turning that vision into an operating plan, and then executing on that plan with more urgency than anyone else," he explains. "And it?s also about taking chances. The worst decision is to do nothing. We tolerate mistakes ? and we even expect them ? because mistakes are the byproduct of innovation and we want to innovate on a consistent and constant basis. And through it all, we have fun and respect each other. The Golden Rule works in business too.?Call the Radio Ink home office at 561-655-8778 to subscribe to the print version of Radio Ink Magazine.

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Pittman on Being Most Powerful: "Let's Tell Our Story"

"I think the radio industry has a powerful story to tell. We're one of the big three media--tv, radio and internet--in terms of reach, usage and engagement. And we all belong in the mix media in a major way. However, radio is the only one of the three that gets far less of the advertising pie than it deserves. The good news is that all we really have to do is tell the story to the decision makers--it's a story the key decision makers don't know and won't know unless we tell it and tell it often."

"We also have to be marketing partners--figuring out how to help our advertisers achieve marketing goals that are essential to them. We're not going to reach our potential if we just respond to rfp's and "sell spots."

"And finally, harnessing the full power of radio means we have to engage every part of our companies and our talent. John Hogan and I both dedicate a part of our time to personally meet with advertisers to understand their plans and needs and develop solutions. And john uses our programmers--our chief creative people-- to help develop plans and creative solutions for our advertisers. Our on air talent even has a big role to play with ideas and execution. It's about team work--at all levels in our companies and among all the radio companies. All the radio companies are  fierce competitors with each other, but we also need to be strong collaborators working together to sell the power and unique benefits of radio to marketers who under-use radio, or don't use it. And when we convince them to try it, we'll definitely get a thanks--because we always make their marketing more effective, and always more efficient."

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Pittman Says Clear Channel Changing an Industry

7-10-2012

This week Clear Channel CEO Bob Pittman sent a note out to the company's employees. The theme throughout the note was change is happening and will continue to happen. "At Clear Channel, we are being proactive in taking our vision and turning it into an operating plan -- and now our goal is to execute on that plan with more urgency than anyone else." A lot has also been said, and written, about the Clear Channel debt. Pittman says Clear Channel has "a solid financial foundation we need to keep driving change. Despite the slow economic recovery, we have been able to deliver solid revenue growth across our operations while stepping up our investments in digital platforms and new organizational expertise to drive future growth."

Here is the entire note to employees:

The last year has been a time of rapid change ? both in the world, which has seen the emergence of a number of important new players in the media and technology space, and here at Clear Channel. Whether driven by emerging technologies, shifting consumer demand, or some other new business reality, change provides great opportunity to those who are quick to recognize its potential and smart enough to capitalize on it.  And as a company with change as part of our DNA and a history of taking advantage of the opportunities that change engenders, we welcome it as a constant in our culture.

As you?ve seen, big changes are taking place at every level and in every division of Clear Channel.  Working together, we are transforming our company to better meet the needs of our customers and partners in bold and innovative new ways, working hard to harness transformative technologies that will extend our industry-leading brands across even more platforms, and creating new businesses to make the company bigger, better and more profitable.

At Clear Channel, we are being proactive in taking our vision and turning it into an operating plan -- and now our goal is to execute on that plan with more urgency than anyone else. Under the leadership of John Hogan at Clear Channel Media and Entertainment and William Eccleshare at Clear Channel Outdoor Holdings, we?re geared to thinking and acting more and more like an innovative, creative, fast-moving entrepreneurial start-up in a media marketplace that?s becoming increasingly competitive every day.  If we don?t seize the opportunities, somebody else will. 

The New iHeartRadio is a perfect example of how we are enhancing and growing an existing business.  iHeartRadio offers both our broadcast brands and a ?custom stations? feature in one fully integrated product.  And in just eight months, iHeartRadio added 10 million registered users ? reaching that milestone faster than all other popular Internet entertainment and social platforms, including Facebook, Pandora, Zynga, andSpotify.  Today, terrestrial broadcast radio represents 98% of our total listening and digital radio only 2%, but that 2% represents incremental listening to Clear Channel stations -- and we will continue to grow that digital incremental listening significantly over time.

At Outdoor, new technologies are also creating more opportunities for us.  We continue to lead the industry in bringing exciting and captivating digital out of home advertising experiences to consumers and advertising partners around the world.  We have nearly 1,000 digital billboards in the U.S. and 2,200 digital displays outside of the U.S. and continue to invest in them, and we?re aggressively pursuing opportunities in transit and street furniture internationally and airports domestically.  We also are in a leadership role in developing completely new ideas for outdoor ? like our wi-fi buses in Hong Kong.

But change is not just about technology ? it also encompasses innovative ways of doing business.  Here?s a great example:  in an industry first, Clear Channel Media and Entertainment reached a breakthrough agreement in June with Big Machine Label Group, which includes Taylor Swift, Rascal Flatts and Tim McGraw among its recording artists, to align our business interests and accelerate growth and innovation in digital radio.  We think it?s critical to try to break the logjam of performance rights and develop a holistic approach to all rights that will allow radio to economically pursue aggressive digital growth and be an even more valuable partner to the music industry.

At Clear Channel, we have an unmatched ability to connect artists and hosts with their fans, and brands with their consumers, through the most culturally relevant brands and products in the world. We are actively pursuing integrated, multi-platform partnerships that leverage all of our powerful properties and talent to deliver exceptional results for our marketing partners.

It is worth keeping in mind that Clear Channel is unique as a national platform that can activate people locally. We have the largest reach of any radio or television outlet in America with 237 million monthly listeners to our broadcast radio alone; 50 million digital users; and almost 90 million downloads and upgrades of our mobile products.  Our reach for Outdoor is equally as impressive: 141 million every month for Outdoor Americas and over 374 million for Outdoor International.

Importantly, we also have the solid financial foundation we need to keep driving change.  Despite the slow economic recovery, we have been able to deliver solid revenue growth across our operations while stepping up our investments in digital platforms and new organizational expertise to drive future growth.

I want to close this note by speaking directly to the major competitive advantage that Clear Channel enjoys -- the people who work for our company.  Clear Channel has had a long history of success, and as I outlined in the preceding paragraphs, we continue to lean forward to positively impact the world around us.  Our towers and transmitters, our digital platforms, our billboards and our street furniture are not the reason we have been successful ? you are.  The people of Clear Channel have worked very hard to help us get where we are today, and while I am relatively new to this company I have seen first-hand the contributions you make and the dedication you have to this company, our customers and each other.

Speaking on behalf of the senior management team, we deeply appreciate all you do to contribute to the continued success of our company. 

Many thanks,

Bob

(7/11/2012 6:24:34 AM)
P.S. Please collect your belongings and thank you for your service.

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Pittman: "Rush Boycott No Impact on Clear Channel"

Pittman: "Rush Boycott No Impact on Clear Channel"

Bob Pittman delivered another one of his pro-radio keynote addresses yesterday. This one to a 4A's conference being held in Los Angeles. He was also interviewed by the Associated Press where the topic of Rush Limbaugh came up. Clear Channel, via the Premiere Radio Networks, syndicates Limbaugh. Several advertisers, including Kohler this week, have bailed on Limbaugh after his comments about Sandra Fluke. Pittman told the AP Clear Channel is delighted to have Limbaugh calling him the king of radio. Pittman said "advertisers leaving the program did not have a major impact on the company and there has not been a major move among stations to drop Limbaugh." He called the Rush controversy "part of the normal day-to-day of talk radio."

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Pittman Invests in Independent Ad Agency

2-21-2012

Financier Henry Silverman and Clear Channel CEO Bob Pittman have invested several million dollars in ad agency Droga5, which will help the independent agency expand. The Wall Street Journal says Droga5, a privately held New York agency will receive about $6 million to $7 million from the two executives. Silverman is vice chairman of Apollo Global Management, a private equity firm.

Droga says the money from the new investment will be used to expand the agency including by the addition of new talent. A five-year-old firm, Droga5 has about 150 employees and has recently landed ad business for Heineken International BV?s Amstel brand.

Read the Journal story HERE

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