In latest edition of Remotely from Ad Age, iHeartMedia CEO Bob Pittman discusses how the radio company is preparing for Web3 and defining the future of podcasting with Ad Age Editor Jeanine Poggi.
Radio giant iHeartMedia has begun making strides into the metaverse, announcing plans last week to open a virtual stadium in Roblox to produce digital concerts. In the virtual neighborhood, people can collect in-game rewards and exchange them for “iHeartBucks.” Players can run their own radio stations, which are storefronts inside the neighborhood, and unlock songs and playlists.
During this episode of Remotely, Pittman will discuss how these initial concepts are laying the foundation for the company's Web3 plans. And beyond the metaverse, the former MTV CEO will assess the state of the advertising marketplace and the future of the podcasting business.
For iHeartMedia, these activations are more than stunts and represent the opportunity for real revenue generation in the metaverse.
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