[September 16, 2014] |
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Clear Channel Becomes iHeartMedia
NEW YORK --(Business Wire)--
Clear Channel (News - Alert) announced today that it has become iHeartMedia, reflecting
the company's success in becoming a one-of-a-kind multi-platform media
company with unparalleled reach and impact.
The newly named company includes a wide range of advertising-supported,
consumer-focused media businesses, including 859 radio stations in over
150 markets, with more than 245 million listeners a month -- the largest
reach of any radio or television outlet in America; iHeartMedia Digital,
with its more than 90 million digital monthly uniques; Premiere
Networks, which syndicates 90 radio programs and services to more than
5,500 radio affiliates; the Total Traffic and Weather Network, reaching
almost all U.S. commuters; 20,000 live music events, all of which
generate massive consumer engagement on social media platforms and the
largest of which are even televised; its related companies, including
Katz Media Group; as well as Clear Channel Outdoor, one of the world's
largest outdoor advertising companies.
"iHeartMedia reflects our commitment to being the media company that
provides the most entertainment to the most engaged audiences wherever
they go, with more content and more events in more places on more
devices," said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. "We
have massive consumer reach and influence across our platforms because
we know how to program the live content people want to hear, see and
share right now, we are the largest mobile media company in existence --
more than 60 percent of our broadcast usage is out of home, compared to
just 30 percent for other mobile devices - and we deliver more live
programming than any other media company today, built on the national
and local on-air personalities who are the heart of our powerful
broadcast radio franchises. Combined with Clear Channel Outdoor's reach
of over half a billion people worldwide across 30 countries and five
continents, it's clear that no other company can match our reach or
broad spectrum of media platforms."
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will retain the Clear
Channel brand. As it continues to transform the global out-of-home
industry, Clear Channel Outdoor's brand and products will become an even
more important part of iHeartMedia's future.
"Although we are changing the parent company's name, Clear Channel
Outdoor is built into the fabric of our multi-platform company," said
Rich Bressler, President and Chief Financial Officer of iHeartMedia,
Inc. "With its continued growth into digital and mobile, Clear Channel
Outdoor has tremendous momentum as a leader in the out-of-home
advertising industry, and is a more integral part of our company than
ever. We're pleased that the Clear Channel brand, with its long history
and respected heritage, will continue on in our Outdoor business."
iHeartMedia reflects both the success and the cultural impact of the
iHeartRadio business formed three years ago and the evolution of the
company's major local radio station brands and franchises to include
mobile, social and events. iHeartRadio has become the dominant national
consumer brand among the company's assets with almost 70 percent
consumer brand awareness and record-breaking digital growth, reaching 50
million registered users faster than any digital music service, and even
faster than Twitter, Facebook (News - Alert) and Pinerest. The company's 859 radio
stations have led the way for the entire media business, becoming even
more relevant in the lives of their listeners by expanding how they
connect with listeners live and in-the-moment in mobile and across its
network of social platforms.
"iHeartMedia was created by the strongest broadcast radio stations in
the country, and we will continue to build this company the same way -
on the country's strongest radio stations," said Pittman. "We are
especially excited because our digital platform extends the reach and
impact for our wildly popular on-air personalities - and it's a platform
that only iHeartMedia provides."
The new company is fueled by its ability to deliver the reach and scale
of broadcast media with the relevance and emotional power of real-time
programming, complemented by its culture-defining live events, which
have amassed 15.4 billion social impressions. These include the
iHeartRadio Music Festival, the biggest live concert event in radio
history; the iHeartRadio Jingle Ball Concert Tour; the iHeartRadio
Ultimate Pool Party; and the iHeartRadio Music Awards, which garnered
more than 65 million votes via text messaging and led the week in the
Nielsen social TV ratings.
"In a world where 2x ROI is judged as successful, Nielsen has shown that
radio delivers 6x ROI on average. It's because we combine the power and
predictably of mass reach with the immediacy and relevance of live
programming and the unique and powerful engagement that consumers have
with their favorite radio stations and personalities," said Pittman.
"The opportunity for the new iHeartMedia is to use all of these
industry-leading assets together in new ways -- extending our massive
reach and cultural influence across radio, outdoor, digital, social and
live events to make it easier for advertisers to deliver the most
relevant, real-time messages across all our platforms at scale,
amplified by social media and mobile, to get a superior ROI to other
media."
"We're pulling together our powerful local and national brands and
industry-leading platforms to make it easier for advertisers to tap into
the range of content, audiences and experiences we deliver on devices,
in cars, on stages and everywhere consumers want to find information and
be entertained," said Bressler.
Effective today, CC Media Holdings, Inc. (OTCCB: CCMO) will become
iHeartMedia, Inc. In connection with the company's new brand, the
company's ticker symbol will also change, effective September 17th. Of
the company's major businesses, Clear Channel Media and Entertainment
will become iHeartMedia; other company brands, including iHeartRadio,
Premiere Networks, Total Traffic and Weather Network, Katz Media Group
and RCS, will retain their current names.
For more information visit the iHeartMedia
Fact Sheet.
About iHeartMedia, Inc.
iHeartMedia, Inc. is one of the leading global media and entertainment
companies specializing in radio, digital, outdoor, mobile, live events,
social and on-demand entertainment and information services for local
communities and providing premier opportunities for advertisers. For
more company information visit iHeartMedia.com.
About iHeartMedia
With 245 million monthly listeners in the U.S., 97 million monthly
digital uniques and 196 million monthly consumers of its Total Traffic
and Weather Network, iHeartMedia has the largest reach of any radio or
television outlet in America. It serves over 150 markets through 859
owned radio stations, and the company's radio stations and content can
be heard on AM/FM, HD digital radio, satellite radio, on the Internet at iHeartRadio.com and
on the company's radio station websites, on the iHeartRadio mobile app,
in enhanced auto dashes, on iPads and smartphones, and on gaming
consoles.
iHeartRadio, iHeartMedia's digital radio platform, is the No. 1
all-in-one digital audio service with over 345 million downloads; it
reached its first 20 million registered users faster than any digital
service in Internet history and reached 50 million users faster than any
digital music service and even faster than Twitter (News - Alert), Facebook and
Pinterest. The company's operations include radio broadcasting, online,
mobile, digital and social media, live concerts and events, syndication,
music research services and independent media representation.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) is one of the world's
largest outdoor advertising companies, with more than 750,000 displays
in over 40 countries across five continents, including 48 of the 50
largest markets in the United States. Clear Channel Outdoor Holdings
offers many types of displays across its global platform to meet the
advertising needs of its customers. This includes a growing digital
platform that now offers over 950 digital billboards across 37 U.S.
markets. Clear Channel Outdoor Holdings' International segment operates
in nearly 30 countries across Asia, Australia, Europe and Latin America
in a wide variety of formats.
Like us on Facebook at facebook.com/iHeartRadio Follow
us on Twitter at twitter.com/iHeartRadio
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