For the heads of two of the radio industry’s biggest companies, consumer trust is a key factor in their continued success. That was a key takeaway from a NAB Show session on Tuesday afternoon moderated by its President/CEO Curtis Legeyt.
He asked both Audacy President/CEO David Field and iHeartMedia Chairman/CEO Bob Pittman a wide-ranging series of questions, with a large crowd on hand to hear what they had to say. He first asked why Radio remains a key driver of audio consumption in the car. Pittman believes loneliness among solo drivers is a factor, playing up Radio’s role as a companion. Field stressed Radio’s key role in ensuring that spin-free, truthful messages get distributed via over-the-air radio stations. “We are the bulwark of democracy,” he declared. Hence, another reason why that trust factor is so strong among Radio consumers.
Legeyt then asked Pittman and Field to share how they think the Radio industry will be in 2027. Pittman pointed to how iHeartMedia has “a product strategy,” rather than something so narrow as a digital strategy or any as specific. For Field, it comes down to execution and investment in the right things, so that Radio remains relevant to listeners.
What about the challenges that are most present to the two leaders? Field said it was “cracking that code in finally getting our fair share on advertiser spending” and to drive that share forward. Pittman didn’t necessarily agree, as he shared the same sentiment while a leader at both MTV and Aol, and it never happened.
As such, Pittman said, “If the advertiser follows the consumer, we will grow. And I’m confident that we will get that here.”
