iHeartMedia CEO Bob Pittman is one of the Most Powerful People in Radio. He has been since joining the radio industry in late 2010. And, he’s been on Radio Ink’s 40 Most Powerful People in Radio list since 2011. Our 2019 list is out now. Here’s a portion of our interview with Pittman that appears in that issue.
We first asked Pittman to talk about the success of iHeart over the last 12 months. He said iHeart’s capital structure now matches the company’s strong operating business. And, at the same time iHeart has grown its platforms with an emphasis on a strong leadership position in podcasting. “We are the #1 commercial podcaster in America; we are the only commercial broadcaster in the list of the Top 10 podcasters; and we have built content leadership across all genres, more than any other podcaster.”
He also emphasized iHeart’s strong events platform. “Our awards show and annual music festival have surpassed Coachella and Lollapalooza in the minds of consumers as the best-known music events as well as consumers’ most desirable events to attend. It’s encouraging to see that kind of progress built on our iHeartRadio master brand.”
Pittman says the greatest success of the company is the growth of its employees, “and how they have come together better than ever as collaborative teams that build the innovation for this company and this industry.”
On the industry-wide topic of radio growing its revenue, Pittman says everyone needs to talk the language of advertisers and agencies, instead of expecting them to talk the traditional radio language. “Additionally, big results get attention – whether it’s what we did for Fox Films for Bohemian Rhapsody or even P&G’s radio success. We have to continue to have big successes and make sure we spread the word effectively – and we need to act as big and as important as we really are.”
And finally on the sticky subject of the possibility of more deregulation, something iHeart has been opposed to, Pittman says he honestly just doesn’t know. “The industry is divided on the issue based on outcomes people expect from the various options. I think it’s also divided by people who would like to improve their opportunities to sell their stations versus people who are looking to maximize the value of their stations and intend to own them for the long haul. I think deregulation can be complicated by the fact that it’s not only an FCC issue but potentially a DOJ issue as well, and whatever is ultimately decided needs to make it through the DOJ review. However, I think we, like everyone else who is interested in this issue, are looking for answers that improve the value of our industry even if there is disagreement about the means to that end.”
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