iHeartMedia CFO Richard Bressler said the company does thousands of events every year across its hundreds of radio stations, calling it an important part of the company’s “embedded sales strategy,” and they do produce revenue. Bressler says as a result of some of the events, such as the iHeartRadio Music Festival, advertisers have expanded their relationships with the company. “They drive revenue and they are profitable.”
Bressler said the recent iHeartRadio Music Festival in Las Vegas generated 11 Billion social media impressions. “Social impressions are indicative of how engaged our audience is. Events like these are the cornerstone of who we are a company and they will continue to be. Events are a big part of our business plan.”
iHeartRadio Music Festival was broadcast live on iHeartMedia radio stations across 150 markets, livestreamed both nights on the CW Network via CWTV.com and the CW App; and The CW Network broadcast a two-night iHeartRadio Music Festival television special on October 6th and 7th. The company also scheduled the return of the national “iHeartRadio Jingle Ball 2016 Tour Presented by Capital One.” That event will stop in 12 cities. And the 4th annual iHeartRadio Music Awards are scheduled for March 5, 2017 at the Forum in Los Angeles. The iHeartRadio Music Awards will again be televised on TBS, TNT and truTV and simulcast on iHeartMedia stations nationwide and iHeartRadio.