Richard Bressler |
Bressler stated, "if you look at us (iHeart Radio) on a comparison basis, it's really not apples to apples. You've heard us talk about this before. Pandora's a playlist. What we have is called custom radio. We think it's a feature. We don't think it's a freestanding service."
Concerning Pandora's claims that its the #1 radio station in most markets, Bressler reminded those on the conference call that "it's really important just to do the math for a second. And less than 40% of all customers -- consumers today can even stream. And if Pandora remarkably got 100%, remarkably, would get 100% of all the people, of all the customers that stream, they still couldn't make it to the #1 in any market because the #1 station, like in New York where we have -- WLTW (106.7 FM) is close to 60%, like our -- and we have 90% of the cluster, it's mathematically impossible for them to be #1 in these markets."
"And quite frankly, if you add up all the Pandora streams in New York, they wouldn't even be in the top 10. I think they're like at 17% or 18%, and again, that's mostly self-reported data."
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