iHeartMedia CFO Rich Bressler made a point to remind investors and analysts Wednesday that iHeart was still the biggest radio Kahuna on the block, despite all the recent hoopla and chatter about the Entercom-CBS merger.
In his opening remarks during the Q3 company earnings call, Bressler wanted everyone to remember that, despite what Entercom CEO David Field is saying about his new national platform, iHeart will still reach many more people. Bressler said iHeartmedia is a national leader, not only in radio and audio but a leader in media overall. And, he said iHeart continues to be the undisputed leader in audience reach. “For example, even with the heavy focus on the top 50 markets by Entercom with their CBS radio acquisition, in those top 50 markets we still reach 93% of the listeners 12-plus and Entercom only reaches 67%, according to Nielsen. In addition, we are seven times their size in digital reach.
Bressler said iHeartmedia is built on the scale and strength of more than 850 radio stations and additional platforms they’ve built off that base…”creating a powerful national network with unparalleled global reach. Our broadcast radio assets alone reach a quarter billion consumers, more than Google and Facebook in the US.”
For the record, yes David Field has been promoting the bigger Entercom as radio finally having a second company with scale large enough to compete with big media outside the radio industry. But he has also praised iHeartmedia at every step of the way.
Industry leaders proud of what? ruining radio? both IHeart and Cumulus WWO with Wall Street mentality and staggering debts with no lifeline in hand for creditors. The only positive thing on the horizon is that station assets will eventually be sold off to “Real private radio groups and operators” perhaps providing creditors with some relief of the hangover.
So much for the Wall Street business model. Keep drinking the warm Koolaid Cumulus and IHeart.
The biggest Kahuna on the block? Maybe, but his clothes are shabby & frayed, his shoes have holes, and he’s almost homeless.
In addition, iHeart is an industry leader…. of debt, with well over 20X the the debt of Entercom. #soproud
Comments are closed.