iHeartRadio To Celebrate 5th Anniversary

iHeartRadio turns 5 in September. In 2010 parent company iHeartMedia was known as Clear Channel. The company today owns over 800 AM and FM stations, and cites 70 million registered users for its app, which brings listeners iHeart radio stations and DJs, along with personalized music streaming, like rival Pandora.

According to Triton Digital, which measures online radio, Pandora averaged just over 2 million listeners per minute in May, compared to 832,000 for Spotify, which operates a free and paid subscription service, and 255,000 for iHeart.

Rich Greenfield, an analyst with BTIG Media, says iHeart hasn’t “killed it,” with its digital offerings, like Pandora and Spotify.

But it doesn’t matter, reports USA Today.

The company has done a “great job,” he says, building its brand around key events — like its festivals, which are also broadcast on TV.

IHR has staged many big-time events, like the upcoming iHeart Music Festival in Las Vegas, which features entertainment from Kanye West, The Who, Janet Jackson and many others.

“Advertisers love being associated with great brands,” says Greenfield.

For its second-quarter earnings, iHeart reported $1.7 billion in revenues, up 2% from the same time period a year ago, and earnings of $499 million.