iHeartMedia Bob Pittman Bullish On Radio Business

During iHeartMedia's Thursday earnings call, CEO Bob Pittman dedicated significant time to championing the enduring strength and potential of the company's broadcast radio division. Pittman, expressed unwavering confidence in radio as a vital growth engine for iHeartMedia, firmly rejecting any notions that it represents a declining industry.

"Broadcast radio remains a resilient and thriving medium," Pittman asserted. 

"Today, it boasts a larger audience than it did two decades ago—a remarkable feat in an era where traditional media has faced substantial challenges. While broadcast and cable television viewership have significantly diminished, and print media has seen its readership all but evaporate, broadcast radio has not only held its ground but continues to attract robust listenership."

Bob Pittman

Pittman emphasized that this sustained audience strength positions iHeartMedia to capitalize on new opportunities for expanding radio revenue streams. He highlighted the company’s proactive efforts to integrate its traditional radio offerings with modern advertising technologies, signaling an innovative approach to monetizing its assets.

"As a testament to our forward-thinking strategy and tangible progress, I’m thrilled to share a significant development," Pittman announced. "Starting in March of this year, iHeartMedia’s broadcast radio inventory will be accessible through major digital advertising platforms, including Yahoo’s Demand-Side Platform (DSP) and Google’s Display & Video 360 (DV360). This integration will enable digital buyers to purchase our radio inventory programmatically, alongside other cutting-edge advertising options like Connected TV (CTV). This move marks a pivotal early step in aligning our broadcast radio assets with the evolving preferences of digital advertisers, unlocking the potential for iHeartMedia’s radio portfolio to tap into the rapidly expanding digital and programmatic advertising ecosystem."

Pittman’s remarks underscored his vision of bridging the gap between traditional radio and the digital marketplace, a strategy aimed at ensuring the medium remains competitive and relevant in an increasingly fragmented media landscape. By making radio inventory available through programmatic channels, iHeartMedia aims to attract a broader pool of advertisers who prioritize flexibility and data-driven buying methods.

Notably absent from Pittman’s commentary during the investor call was any mention of a recent letter he received from Federal Communications Commission (FCC) Chairman Brendan Carr. Earlier in the week, Carr had reached out to iHeartMedia with pointed questions regarding the company’s practices around artist compensation. In his letter, Carr raised concerns about whether iHeartMedia—and potentially other broadcasters—might be engaging in arrangements where artists are pressured to perform at station-sponsored events or festivals without payment, in exchange for increased or more favorable airplay. The FCC Chairman’s inquiry reflects growing scrutiny over the intersection of radio promotion and fair compensation in the music industry.