iHeartMedia

Posted on February 18, 2016 by Clelia Ryan

iHeartMedia Logo -Source iheartmedia.com

Headquarters

iHeartMedia, Inc.
200 East Basse Road
San Antonio, Texas 78209-8328

Corporate Structure

Bob Pitman: Chairman and CEO [3]

Richard J. Bressler: President, CFO and COO [3]

Wendy Goldberg: Executive VP & Chief Communications Officer [3]

John Sykes: President of Entertainment Enterprises [3]

About

[source – Electro Area Youtube Channel]

iHeartMedia has become a major force in the mass media industry. It was founded under Clear Channel Communications when they purchased their first radio station in 1972. Today, iHeartMedia Inc. is the parent company of iHeartMedia Capital I, Clear Channel Outdoor Holdings (CCO) as well as iHeartMedia (IHRT) [14].

iHeartMedia has the largest impact of any media platform in America, reaching 245 million monthly listeners through radio. Their reach expands to 150 different markets and ownership of 850 stations. iHeartRadio is a digital platform to listen to all iHeartMedia stations [1]. The company proves to be very successful in the digital radio space. In 2014, Clear Channel Media formally changed its name to iHeartMedia. CEO Bob Pittman states, “The new name will reflect the company’s multi-platform presence and ability to embrace innovation and new technology” [9]. This name change allows the company to align itself with the iHeartRadio name that consumers are familiar with. iHeartRadio is responsible for many live music events throughout the year, such as the Jingle Ball national tour, iHeartRadio Music Festival and iHeartRadio Awards.

Radio

Radio is a still huge media outlet and continues to reach 91% of Americans ages 12+ each week [23]. As of January 2016, iHeartRadio has 80 million register users and total listening hours grew by 30% [18]. iHeartRadio has coined deals with some of the most well known on-air personalities such as Ryan Seacrest and Elvis Duran of New York’s Z100. Seacrest hosts of LA’s number one morning stations, 102.7 KISS-FM. He also hosts nationally syndicated programming with the broadcasts of On Air with Ryan Seacrest and American Top 40 with Ryan Seacrest [16].

Ryan Seacrest [16]

The iHeartRadio website and app provides “Live Radio“, allowing listeners to listen live to over 858 stations. They also provide “For You“, a feature that suggests stations based on the users preferred selection of genres. Finally, “Artist Radio” is a custom made station with songs by an artist selected by the listener and related music [17].

Right Here, Right Now: Financial Woes

Bloomberg’s Lucas Shaw Reports on iHeartMedia’s Debt [20]

Click here to view a Bloomberg video summarizing iHeartMedias debt crisis [20].

Recently, iHeartMedia has been making headlines for their massive debt reported at the end of 2015. The company is reported to have approximately $20.6 billion of debt [2]. In 2008 the company was bought by private equity firms Bain Capital Partners LLC and Thomas H. Lee Partners for $28 billion in a leveraged buyout. The buyout came during the economic recession and it was expected that in the coming years iHeartRadio would profit greatly [10]. However since 2008, iHeartMedia has been battling to pay off debt.

In response to the news, it was announced on March 8th that iHeartMedia Inc. hired Moelis & Co. as a financial advisor [4].

Also on March 8th, many bondholders became displeased with iHeartMedia’s executive decision to move $500 million in assets to a subsidiary. As a result bondholders filed notices of default. These bondholders argue that in transferring their shares of Clear Channel Outdoor Holdings Inc. to Broader Media LLC, iHeartMedia violated debt agreements. This was done in an attempt to clear up some of their massive debt [5].

In a press release issued on March 8th, iHeartMedia announced they filed a lawsuit in State District Court in Bear County Texas to prove their transfer of shares was done legally [6]. On behalf of the company, Chief Communications Officer Wendy Goldberg states, “We believe our recent contribution of Clear Channel Outdoor Holdings Inc. stock to our subsidiary Broader Media LLC constituted a permitted investment under, and fully complied with, our financing agreements” [5].

On March 10th, iHeartMedia was granted a temporary restraining order which rescinds the default noticed filed against the company. Moving forward, iHeartMedia and the bondholders, who issued the default notices, will have a court hearing before a judge. This hearing may determine how iHeartMedia will move froward in paying off their $20.6 billion in debt [11].

The trial regarding this matter is set to take place in a Texas state court on May 16, 2106. The shares in question are valued at $1.2 billion [12] .

Click for updating stock prices [19]

On April 25, 2016. iHeartMedia Inc.’s stock (IHRT) closed at $1.18 per share. This is a major drop in price compared to June 2015, when it was selling for $7.50 per share. Subsidiary, Clear Channel Outdoor Holdings also saw a drop in stock price from a year ago. It closed at $4.88 as opposed to its price of $11.21 seen in April 2015 [19]. In their Fourth Quarter and Full Year Report iHeartMedia stated a 3% revenue increase to $1.8 billion [18].

iHeartMedia’s Place in Political Advertising

Brendon DelToro [22]

On February 16th, iHeartMedia announced Brendon DelToro has been appointed to Vice President For Political Strategy. DelToro will aid in managing iHeartMedia’s relations with candidates and other political organizations. This year the company plans to have an iHeartMedia Campaign 2016 Command Center to keep track of over 2,000 elections in 150 markets. Brendon’s role will be to merge the political sales teams across iHeartMedia’s broad market reach [7]. The goal of iHeartMedia’s engagement with the political campaign is to allow political and advocacy groups to have access to iHeart’s 80 million users.

iHeartMedia is also planning on capitalizing on the 2016 election by having advertisers pay to place ads via radio rather than the traditional TV route. Candidates strive to target specific demographics, which is getting more difficult to do through traditional TV. Digital radio platforms, specially iHeartMedia can provide campaigns with data that is relevant for targeting the key audiences [8].

Continuing Their Place in the Entertainment Industry

Despite their well known debt and pending court hearings, iHeartMedia continues to hold their place in the music and entertainment industry.

iHeartMedia celebrated their 3rd annual iHeartRadio Music Awards on April 3rd. This award show is primarily driven by fans and users of the iHeartRadio app to vote for nominees.

iHeartRadio Music Awards Promotional Ad [13]

On social media the iHeartRadio Awards generated 115 billion impressions. This number includes the promotional period of the show throughout the television broadcast. This massive number of engagements far exceeds that of other popular award shows such as the MTV Video Music Awards. Chris Williams, Chief Product Officer credits the shows success to the fan engagement and radio personalities involvement [13].

Photo from the 2015 iHeartRadio Pool Party [15]

This summer, iHeartRadio will also be hosting their iHeartRadio Summer Pool Party. Tickets to this exclusive event at Miami’s Fontainebleau will be given to listeners across the country through on-air contests. This years lineup will feature Kygo, Flo Rida, DNCE and Jason Derulo [15]. Seasonal concert events such as the iHeartRadio Pool Party and Jingle Ball Tours are proven to boost listenership across iHeartRadio stations nationwide.

Summary

iHeartMedia is a well respected entertainment company but struggles with being profitable, due to its burdensome debt servicing obligations. Looking ahead, iHeartMedia’s debt crisis and battle with bondholders will have an effect on the financial future of the company. Overall, iHeartMedia remains competitive in the digital radio industry against companies such as Spotify and Pandora providing similar services.

Works Cited

[1] iHeartMedia Corporate. iheartmedia.com, Retrieved April 23, 2016

[2] “The Largest U.S. Radio Operator Is Saddled With $20 Billion Debt”. bloomberg.com, Retrieved April 23, 2016

[3] iHeartMedia Our Team. iheartmedia.com, Retrieved April 23, 2016

[4] “iHeartMedia hires Moelis to tackle debt burden”. newsdaily.com, Retrieved April 23, 2016

[5] “iHeartMedia, Lenders in Fight Over Disputed Share Transfer”. bloomberg.com, Retrieved April 23, 2016

[6] “iHeartMedia, Inc. Responds to Lender Group Allegation”. Businesswire.com, Retrieved April 23, 2016

[7] “iHeartMedia Names Brandon DelToro Vice President for Political Strategy”. iheartmedia.com, Retrieved April 23, 2016

[8] “Inside iHeartMedia Strategy to Steal Presidential Ad Dollars From TV” adage.com, Retrieved April 23, 2016

[9] “Clear Channel Rebrands As iHeartMedia” adage.com, Retrieved April 23, 2016

[10] “Coming, the collapse of radio’s iHeartMedia”. Medialifemagazine.com, Retrieved April 23, 2016

[11] “Court Rescinds Default Notices Against iHeartMedia”. Insideradio.com, Retrieved April 23, 2016

[12] “iHeartMedia Default Fight Set to Go to Trial” wsj.com, Retrieved April 23, 2016

[13] “2016 iHeartRadio Music Awards Social Engagement Captures 115 Billion Impressions Across U.S.” broadwayworld.com, Retrieved April 23, 2016

[14] “iHeartMedia Loses A Director, Gets More Time To Resolve Its Massive Debt Problems” billboard.com, Retrieved April 23, 2016

[15] “iHeartRadio Is Throwing Miami’s Biggest Pool Party of the Year With Flo-Rida, Kygo and More” miaminewtimes.com, Retrieved April 23, 2016

[16] “Ryan Seacrest Inks New Mega Deal with iHeartMedia” hollywoodreporter.com, retrieved April 23, 2016

[17] iHeartRadio. iheartradio.com, retrieved April 23, 2016

[18] iHeartMedia Investors. iheartmedia.com, Retrieved April 23, 2016

[19] iHRT Stock Price. Google.com/ihrt+stock+price, Retrieved April 23, 2016

[20] “Has iHeartMedia Defaulted on Debt?” uk.finance.yahoo.com, Retrieved April 23, 2016

[21] iHeartMedia Sizzle Reel. https://www.youtube.com/channel/UC6pQXJ0jHO8P9ih4rPRh8Kg, Retrieved April 24,2016

[22] Photo Brendon DelToro. allaccess.com, Retrieved April 24, 2016

[23] “Why Radio Fact Sheet”. rab.com, Retrieved April 24, 2016

iHeart Media

Posted on March 25, 2015 by Stephanie Zolan

by STEPH ZOLAN

iHeartMedia Logo. [1]

iHeartMedia Headquarters
200 East Basse Road
San Antonio, Texas, 78209
(210) 822-2828

Executives:

Bob Pittman, Chairman and CEO of iHeartMedia

Bob Pittman, Chairman & CEO [2]

Richard Bressler, President, CFO and CEO of iHeartMedia

Richard Bressler, President, CFO, & COO [2]

Wendy Goldberg, Executive Vice President and Chief Communications Officer

Wendy Goldberg, Executive Vice President & Chief Communications Officer [2]

Gayle Troberman, Executive Vice President and CMO [2]

John Sykes, President of Entertainment Enterprises [2]

History:

iHeartMedia began with the purchase of a single FM radio station by Lowry Mays and Red McComb under the name Clear Channel Communications. As the company progressed, they acquired not only more broadcast and digital radio stations, but also Clear Channel Outdoor. In addition, iHeartRadio was launched as a website in 2008, and now acts as a digital aggregator for radio brands. In 2014 the company officially rebranded as iHeartMedia in order to create a more cohesive and connected brand. iHeartMedia is now the largest mass media company in America. [3]

Radio:

iHeartMedia currently owns and operates over 850 broadcast radio stations in more than 150 United States markets. They have over 245 million listeners each month, making iHeartMedia the largest multi media company in the country. In addition, the company’s digital music service, iHeartRadio, allows users to create custom music stations. In January, the service exceeded 60 million registered users. [4]

iHeartMedia also operates Premiere Networks, which produces, distributes, or represents over 90 syndicated radio programs and services for more than 5,500 radio stations affiliates. [5] Some of the radio company’s syndicated programs are produced in house, which cater mostly to local markets. In addition to syndicated programming, iHeartMedia also produces Programming for iHeartMedia radio stations greatly varies in order to reach audiences in many different markets. The different radio formats include Alternative, Urban, Smooth Jazz, News talk, Sports talk, Adult Contemporary, Contemporary Hits, Country, Oldies and Classic Hits, Rock, Spanish, and Religious. [6]

Another technique iHeartMedia uses to draw in listeners, is employing trusted radio personalities. For example, On Air With Ryan Seacrest is a syndicated program that is available on over 150 radio stations across the country, and has made Seacrest a household name. [7] His home station, KIIS-FM in Los Angeles produced the most revenue of any United States station in 2014 earning $65.9 million. iHeartMedia continues to increase the awareness of their radio personalities through events. [8]

[9] One of the most well known radio personalities in the country.

Events:

iHeartMedia is more than just the largest owner of radio stations in the United States. The company also specializes in digital media, outdoor advertising, and event production. The national events are used to promote their top notch radio personalities as well as the most popular music on the radio.

[10] 2015 iHeartRadio Music Awards logo, from NBC.

Most recently, they hosted the iHeartRadio Music Awards. Musicians were not the only ones who brought home awards that night. The event itself won the Nielsen TV social ratings and the top trending show on Twitter for both the night and the entire week. During the promotional period and the show, The iHeartRadio Music Awards generated 14 billion social media impressions, which is a huge increase in comparison to last year’s 8.5 billion. [11] Local radio station personalities were engaging with viewers through social media, helping draw in the audience. This included live Twitter Periscope broadcasts of behind the scenes footage, and an iHeartAwards Snapchat Story that featured audience members, nominated artists, and radio host Ryan Seacrest. [12]

Clear Channel Outdoor Logo. [13]

Clear Channel Outdoor:

In addition to owning and operating radio stations and producing events, iHeartMedia also specializes in outdoor advertising. Clear Channel Outdoor Holdings is a subsidiary of iHeart, and is one of the largest outdoor advertising companies worldwide. They have over 640,000 displays including billboards, street furniture, retail advertising, airport advertising, transit advertising, and posters. Clear Channel Outdoor operates across 40 different countries. [14]

iHeartMedia in the Industry:

As a radio focused company, the main competitors for iHeartMedia are Cumulus Media and CBS Radio in the broadcast radio marketplace. SiriusXM has also become a competitor, and iHeartMedia has purchased two satellite stations of their own in order to expand into the satellite market. Since the company has also increased their digital presence with iHeartRadio, they now compete with Pandora and Spotify as well. [15] iHeartMedia’s ability to stand out is largely attributed to their availability across so many different platforms and formats. The scale of the company allows them to reach a large and diverse audience, and their creativity and tools enable iHeartMedia to effectively target their content and advertisements. [16]

Another factor is brand awareness. In December of 2014, iHeartRadio reached 75% brand awareness, which is a huge accomplishment considering they were at 10% only 5 years ago. iHeartRadio has over 500 million app downloads and 80 million social media followers. [17]

Aside from simply reaching such a large audience, iHeartMedia is able to analyze and more effectively monetize from their radio stations. On April 8^th, 2015 the company announced a partnership with the cloud-based advertisement platform, Jelli. Together, they will work to use technology to target their advertisements programmatically. By automating ad sales, it allows advertisers to make informed advertisement purchases. The system will use psychographics to determine groups that are related to music genres, weather and traffic patterns, and consumer purchase behavior. Advertisements have been programmatically sold online for the past 10 years, and iHeartMedia is now adapting the technique to be used with radio. [18]

Finances:

The majority of iHeartMedia’s revenue is derived from selling advertising times or placements on their radio stations or websites. Between 2013 and 2014, the company’s consolidated revenue increased by $75.5 million, from $6,243,044 to $6,318,533, with $29.9 million attributed to political advertising, traffic and weather, broadcast radio and digital revenues. Unfortunately, their revenue from americas outdoor advertising decreased by $37.3 million, mostly due to lower national account revenues and the nonrenewable airport contracts. [19]

Future:

The next move for the company, is the establishment of iHeartMedia SoundBoard. This entertainment studio will be used to connect brands with iHeartMedia’s available talent and radio personalities to create original audio, video, and experiential content. The studio is primarily audio focused since iHeartMedia is mainly a radio company, but everything that is produced will be accessible across all of iHeartMedia’s platforms including broadcast and digital radio, mobile apps, and live events. The success of this program will be made possible by iHeartMedia’s extensive connections and experience in the entertainment industry as well as the company’s knowledge of both consumers and brands. This development will introduce a new method of creating and distributing content to the market, which may have a large impact on the storytelling industry. When the iHeartMedia SoundBoard studio will launch has yet to be confirmed. [20]

Sources:

[1] IHeartMedia. Digital image. Brradio. Published September 16 2014. Retrieved April 17, 2015.

[2] iHeartMedia Corporate Team. iHeartMedia. Retrieved April 17, 2015

[3] Clear Channel Becomes IHeartMedia. iHeartMedia. Published September 16, 2014. Retrieved April 17, 2015.

[4] About iHeartMedia. iHeartMedia. Retrieved April 17, 2015.

[5] Hampp, Andrew. Clear Channel Changes Name to iHeartMedia. Billboard. Published September 16, 2014. Retrieved April 17, 2015.

[6] Station Search. iHeartMedia. Retrieved April 17, 2015.

[7] All Stations And Times. Tune In. Retrieved April 17, 2015.

[8] Overall U.S. Radio Industry Revenues Remain Steady at $14.9 Billion in 2014. BIAKelsey. Published April 1, 2015. Retrieved April 17, 2015.

[9] On Air With Ryan Seacrest Logo. The Drum. Retrieved April 17, 2015.

[10] iHeartRadio Awards Logo. NBC. Retrieved April 17, 2015.

[11] iHeartRadio Music Awards” Generates 14 billion Social Media Impressions. Digital Media Wire. Published April 1, 2015. Retrieved April 17, 2015.

[12] 2015 iHeartRadio Music Awards Generates More Than 14 Billion Social Impressions. Business Wire. Published April 6, 2015. Retrieved April 17, 2015.

[13] Clear Channel Outdoor Logo. Retrieved April 17, 2015.

[14] Company Overview. Clear Channel Outdoor. Retrieved April 17, 2015.

[15] iHeartRadio Grows Even More: How Will This Impact Sirius XM And Pandora? Seeking Alpha. Published June 27, 2012. Retrieved April 17, 2015.

[16] Sisario, Ben. Clear Channel Renames Itself iHeartMedia in Nod to Digital. The New York Times. Published September 16, 2014. Retrieved April 17, 2015.

[17] iHeart Media Surpasses 60 Million Registered Users Continuing to Demonstrate Accelerated Growth, Engagement and Strong Brand Awareness. Business Wire. Published January 23, 2015. Retrieved April 17, 2015.

[18] Marshall, Jack. iHeartMedia Will Sell Radio Ads Programmatically. Wall Street Journal. Published April 8, 2015. Retrieved April 17, 2015.

[19] iHeartMedia 2015 10-K. United States Securities and Exchange Commission. Published February 19, 2015. Accessed April 17, 2015.

[20] iHeartMedia Announces “iHeartMedia SoundBoard,” A New Multiplatform, Audio-Centric Branded Content Studio That Invites Brands, Talent and Fans To Join in Developing Original Productions. iHeartMedia. Published February 3, 2015. Retrieved April 17, 2015.

Spotify

Posted on October 14, 2014 by hlu04

by Helen Lu

[1] Spotify’s Logo

KEY EXECUTIVES

[2] Spotify Founders- Martin Lorentzon & Daniel Ek

[3] Jeff Levick- Chief Business Officer

[4] Steve Savoca- Head of Content

[5] Ken Parks- Chief Content Officer & Managing Director USA

SPOTIFY OVERVIEW

[6] Spotify’s sleek interface layout for their multi-platform service.

Spotify is a privately-owned, digital music streaming service that provides on-demand access to tracks. It is available on multiple platforms, including computers, mobile, tablets, and home entertainment systems. Originally founded in Sweden in 2006, Spotify launched in the United States in 2011; it is now available in 58 markets. [7]

Spotify offers listeners the free model, “made possible by ads,” and the premium model for $9.99 monthly, which is ad-free, high-quality, and available offline. [8] With over 20 million songs, over 20,000 tracks added daily, and over 1.5 billion playlists, Spotify has accumulated 10 million active users and a total of 40 million active users. [9]

COMPETITORS

Rdio, Pandora, Rhapsody, Google Play Music, Beats, iTunes Radio, Music Unlimited, and Xbox Music are worthy contenders in this competitive space. Product reviews assess service quality with major factors include song catalog, user interface, support, and features. [10] Each racing for a market share, these top players in the market are making strategic ploys to stay afloat.

On November 12th, Youtube announced their own streaming service, Youtube Music Key for $9.99. It will be interesting to see how it will affect the music industry when it fully hits the market in 2015. [11]

[12] Spotify and The Echo Nest collaboration

In early March 2014, Spotify acquired The Echo Nest, a big data company to enhance the music discovery feature, forcing Rdio, Rhapsody, iHeartRadio, and Vevo to look elsewhere for a discovery algorithm. [13]

THE SPOTIFY STRATEGY

Spotify has successfully targeted college students, establishing a solid audience base and brand loyalty. With personal information confirming their status, Spotify offers students Spotify Premium for only $4.99. [13]

[13] Spotify engages their target audience: college students and 18-24 year-olds.

COLLEGE CASE STUDY

Spotify’s tenacious grasp on college students’ listening is reflected in their recently released research report of the Top 40 Musical Schools in America. The findings are a close study of the musical norms in the schools.

[14] Detailed graphs document music-genre distribution and listening spikes, showing not only what students listen to but also how they listen.

The data that Spotify is able to collect can be utilized for targeted advertising and marketing campaigns today. Moreover, with such a large following of the developing youth, Spotify is not only able to make significant advancements with the invaluable information about today, but accurate inferences about these soon-to-be adults tomorrow. [13]

#THATSONGWHEN

Spotify launched their #thatsongwhen campaign with advertising agencies Ogilvy & Mather and David to further engage their millennial base. #Thatsongwhen allows users to tie their emotional experiences to their favorite songs, to create, and to tell stories. The customization, personalization, and interactivity of a musical experience attracts and retains a young crowd. [15]

The stories are media clips that are charged with emotion, and of course, music. Don’t Go Chasing Girls is about a man’s early memory of his childhood crush that is easily triggered with TLC’s hit song, Don’t Go Chasing Waterfalls. Stories and songs are updated and posted on a live feed.

AD TAKEOVER

Spotify is introducing two new advertising options for eager advertisers:

1. The dubbed Video Takeover, only available on desktops, allows brands to takeover the screen during 15-30 second advertising breaks.

2.The dubbed Sponsor Sessions forces mobile users to view a 15-30 second video on their mobile devices in order to proceed onto 30 minutes of uninterrupted streaming. [16]

McDonald’s, Universal Pictures, and Ford are just some of the major sponsors that have opted into this advertising innovation. [17]

[18] McDonald’s format and utilization of Spotify’s advertising product – Video Takeover.

SPOTIFY PARTNERSHIPS

VODAFONE

Everything is going mobile, and music is no exception. This rapid trend of playing and streaming music from a smartphone is particularly prevalent in Australia. Due to these recent findings, Vodafone Australia has partnered with Spotify to bundle in Spotify Premium for free with their monthly plan. A Spotify Premium subscription generally costs $11.99 Australian dollars each month. The exclusive offers with Spotify vary, and are known as the Red Plans. [19]

[20] Research shows that 1.5 million Australians stream music from their mobile devices.

Vodafone believes that Spotify Premium’s features complement and maximize the use of their faster network speeds, value plans, and expanding 4G network. Both the companies and the listeners are benefitting from this collaboration as the marriage of these digital services follow consumer trends and meets consumer needs. [21]

CARPLAY

Apple Carplay is an a new feature configured in select 2014 vehicles. Spotify is on board for this innovative ride as it has updated and fixed some bugs for this new multimedia system. [22] The music player allows users to access their Spotify accounts using a compatible iPhone. [23] With a built-in display to play music, Carplay is an exclusive and luxurious market; the Ferrari FF is one of the few select cars with Carplay. Several automobile manufacturers, however, are making an effort to include and support this system in the future. [24]

[24] Spotify collaborates with Apple Carplay to incorporate music services in the latest car models.

UBER

Uber is a hip taxi service, and Spotify is a hip streaming service. These two successful startups partner up for a new listening experience. Passengers can link their custom playlists to Uber vehicles for a fun ride. Although this new feature has started off in ten cities, it makes a big splash in the car service industry and the music industry. This partnership allows both companies to co-promote their respective brands and to change with the times. The service is for Spotify Premium account holders. [25]

[26] Spotify and Uber modernize the standard cab-ride as they join forces to create a new listening experience.

SPOTIFY CONTROVERSY

Taylor Swift pulled her entire catalogue from Spotify’s music database as she believes that it does not fairly compensate artists. [27] As a popular musician, her bold move and her public statements rejecting the streaming business model has made headlines for weeks. Fans and critics are responding to her decision with distaste as both parties point out that there are other viable services, such as Youtube and SoundCloud, to play her music. [28] While she recently accepted the first-ever Dick Clark Award for Excellence at the 2014 American Music Awards Ceremony, she added another snide comment jabbing at Spotify and streaming services again. [29] Jason Aldean has followed Swift’s footsteps, and pulled his new album Old Boots, New Dirt from Spotify. [30]

Spotify executive, Ek, combats this frenzy and reports that artists that use Spotify to promote their music actually sell more, and that Spotify has returned over $2 billion to music industry today. Top artists like Swift are set to project over $6 million in revenue a year. [31] Despite the financial debate and moral controversy, the Spotify team still hopes for Swift to change her mind. [32]

[33] Taylor Swift is a firm believer in the value of music, and that it should not be free. Swift has pulled her music catalogue from Spotify.

It is unlikely that many artists will join Swift’s banning of the digital streaming business, as it is the digital age. Reports confirm that streaming services grew 28% in the first half of 2014. [26] Listeners’ habits changed; artists can sink, but digital streaming services will swim.

SPOTIFY: LOOKING AHEAD

Despite the recent controversies, Spotify has achieved success with their recent collaborations; the student discount and the partnership with Vodafone have led Spotify subscriptions to increase by 42%. [28] Spotify Family Plan has launched with popular demand and proven financial success with previous discount deals. The plan allows subscribers to add four family members to their account for half the price. [34]

Spotify’s name is globally recognized, and Spotify’s services are well integrated into the new digital age. Its key strategies and partnerships keep it on the bleeding edge of the music industry.

Sources

1. Spotify’s Logo, Spotifypress.com, RT:11.29.2014

2. Daniel Ek and Martin Lorentzon, RT: 11.29.2014

3. Jeff Levick, RT: 11.29.2014

4. Steve Savoca, Spotifypress.com, RT:11.29.2014

5. Ken Parks, Evolver.fm, RT: 11.29.2014

6. Spotify Interface Layout, RT: 11.29.2014

7. Spotify Business Information, investing.businessweek.com, RT: 11.29.2014

8. Spotify Official Website, spotify.com/us, RT: 11.29.2014

9. Spotify Press Information, spotify.com/information, RT: 11.29.2014

10. “Spotify and competitors play to their musical strengths”, usatoday.com, RT: 11.29.2014

11. “YouTube Launching Spotify-Style Paid Music Service”, TIME, RT: 11.29.2014

12. Spotify and The Echo Nest Collaboration, RT: 11.29.2014

13. “Will Spotify’s hat trick help it pull ahead of competition?”, Fortune, RT: 11.29.2014

14. How Students Listen, spotify.com, RT: 11.29.2014

15. “Spotify Ties Music to Personal Stories in Its New Ads”, adweek.com, RT: 11.29.2014

16. “Spotify Unveils Video Takeover Ad Product for Free Users”, telecompaper.com, RT: 11.29.2014

17. “Spotify is bringing video ‘takeover ads’ to its free service”, theverge.com, RT: 11.29.2014

18. Spotify Video Takeover Format, spotify.com, RT: 11.29.2014

19. “Vodafone offers postpaid customers free Spotify Premium access”, CNET, RT: 11.29.2014

20. “Spotify partners with Vodafone Australia for down under listeners”, rainnews.com, RT: 11.29.2014

21. “Vodafone Australia and Spotify join forces!”, vodafone.com, RT: 11.29.2014

22. “Spotify adds support for Apple’s CarPlay in update to iOS app”, talkingnewmedia.com, RT: 11.29.2014

23. “Spotify Adds CarPlay Support in Latest iOS Update”, macrumors.com, RT: 11.29.2014

24. “Apple CarPlay comes to Pioneer stereos as Spotify adds support”, engadget.com, RT: 11.29.2014

25. “Tuneup, redefined: You can now Spotify your Uber ride”, CNET, RT: 11.29.2014

26. Uber and Spotify Partnership, Uber.com, RT: 11.29.2014

27. “Taylor Swift is right about music, wrong about Spotify, says CEO Ek”, CNET, RT: 11.29.2014

28. “Why Taylor Swift Will Lose Her Battle With Spotify”, TIME, RT: 11.29.2014

29. “AMAs: Taylor Swift Continues Anti-Streaming-Service Stance in Dick Clark Award Speech”, hollywoodreporter.com, RT: 11.29.2014

30. “Jason Aldean Agrees with Taylor Swift, WIll Remove New Album From Spotify”, musictimes.com, RT: 11.29.2014

31. “$2 Billion and Counting”, spotify.com, RT: 11.29.2014

32. “Here’s Why Taylor Swift Pulled Her Music From Spotify”, TIME, RT: 11.29.2014

33. “Taylor Swift and the Whole Spotify Thing”, uloop.com, RT: 11.29.2014

34. “Spotify launching family plan with cheaper subscriptions for families”, theguardian.com, RT: 11.29.2014

iHeartMedia INC.

Link

by Michael Rubloff

Contact Information:

iHeartMedia INC. 200 East Basse Road, San Antonio, Texas, 78209 (210) 822-2828

Company History

iHeartMedia INC. was founded in 1972 with the purchase of a first FM channel in San Antonio under the name of Clear Channel Communications. iHeartMedia expanded over the course of thirty years, and by 1995 owned forty-three radio stations. However, with the Telecommunications Act of 1996, iHeartMedia radically expanded and added several stations. Currently, iHeartMedia owns eight hundred-fifty radio stations in the United States that reaches 150 markets. In September 2014, Clear Channel Communications rebranded itself as iHeartMedia INC. [1]

Clear Channel Logo [2]

iHeartMedia INC. logo [3]

On September 16th, 2014 Clear Channel made a massive commitment to the future by rebranding to iHeartMedia INC. The former name Clear Channel was derived from an AM channel and is no longer relevant. iHeartRadio however, is a massive source of entertainment for millions of people. iHeartMedia better reflects what Clear Channel had built and its goals for the future. iHeartMedia also felt that its name was not well known compared to other services such as Spotify and Pandora even though iHeartRadio provided millions of people everyday with entertainment. This move was made in order to make the brand and the product more synonymous with each other.

Corporate Leaders:

Robert Pittman, Chairman and CEO of iHeartMedia INC. [2]

Robert Pittman, Chairman and CEO of iHeartMedia INC. [4]

Richard J. Bressler, President and CFO of iHeartMedia INC. [2]

Richard J. Bressler, President and CFO of iHeartMedia INC. [4]

Wendy Goldberg, Executive Vice President and CCO of iHeartMedia INC. [4]

Gayle Troberman, Executive Vice President and CMO of iHeartMedia INC. [4]

John Sykes, President of Entertainment Enterprises of iHeartMedia INC. [4]

Financials:

iHeartMedia is a publically traded company in the OTC market (IHRT). Over the past year the stock has remained relatively stable with a year low of $6.10 and a high at $9.40. The high occurred in the week after the announcement of the rebranding to iHeartMedia.[5] Previously, the ticker for Clear Channel was CCO. In its third quarter report, iHeartMedia reported that revenues were up three percent to 1.6 billion dollars. [6]

Past Six Months of Stock Values of iHeartMedia [3]

Past Six Months of Stock Values of iHeartMedia [5]

Competitors:

iHeartMedia’s long-standing rivals have been CBS Radio and Cumulus Media. However, in the past ten years with the emergence of Satellite Radio, Sirius XM has taken over as iHeartMedia’s biggest rival in terms of revenue. iHeartMedia has permeated SiriusXM, as two of the stations featured on SiriusXM, Z100 and Kiis 102.7, are owned by iHeartMedia.

Pandora Logo [7]

Now that iHeartMedia is putting a focus on its online music service, iHeartRadio, it now competes with Spotify, Pandora, iTunes Radio, and Google Play. In this field iHeartRadio has a great deal of catching up to do as Spotify and Pandora dominate the online streaming market.

However, iHeartMedia has an advantage over its competitors because it crosses over multiple platforms. For instance, Other radio giants such as Cumulus or Sirius are limited to their radio stations. On the other hand, Pandora and Spotify are limited to their apps or their website. iHeartMedia is able to cross between these two platforms in order to better serve their customers desires. Because of this, it is able to capitalize on where its competitors are limited.

Events:

iHeartMedia is known for its excellence in creating live events directly catered to specific demographics. On October 2nd, it announced the first ever iHeartRadio Fiesta Latina, a massive concert aimed at Latin music fans.[8] It took place on November 22nd, and was a massive success. This experimental event seems to have been a good investment for iHeartMedia as their Spanish and English radio stations reach “93 percent of Hispanics monthly” [9].

iHeartRadio Fiesta Latina logo [10]

The Fiesta Latina is the newest addition to iHeartMedia’s collection of live events including the Jingle Ball Concert Tour, Country Festival, and the iHeartRadio Music Festival. While it remains to be seen if the Fiesta Latina will be made into an annual event, it most likely will given its success. One week later, on October 9th, the lineups and locations of the iHeartRadio Jingle Ball Tour were announced. This annual tour has become one of the year’s most exciting events. The tour will begin on Sunday, November 30th and finish on Monday, December 22nd. This event is supposed to cater to listeners of the top40 stations on iHeartRadio and reflect what listeners want to see. This year the New York City concert will be streamed exclusively on Yahoo.com for fans who are unable to attend.[11]

October 2014:

October was a busy month for iHeartMedia as it made several business announcements. On October 7th, iHeartMedia announced a $200 million partnership with Omnicom to develop a multi platform device that will give insight into iHeartMedia’s events as well as technologies.[12]

While this will help Omnicom better target customers, the real winner is iHeartMedia. This deal is dangerous for iHeartMedia’s competitors because this project will allow iHeartMedia to see how it can improve on its multi platform features. Essentially, iHeartMedia will continue to widen the gap between what Pandora and Cumulus are able to do. This will help iHeartMedia become a more versatile company and extend its already industry leading reach.[12]

The next day on October 8th, iHeartRadio announced that it would be available on Android Wear beginning on October 15th. This represents another step forward for the integration of iHeartRadio in technology as iHeartRadio had already announced integration with “Amazon’s Fire Phone, Amazon’s Fire TV, Android Auto, Google’s Chromecast, Apple’s CarPlay, Samsung’s Gear 2 Smartwatch, Qualcomm’s AllPlay and new auto partnerships with Subaru, AT&T Drive, GM, Jaguar Land Rover, Kia and Volvo” [13] earlier this year. By spreading across to different manufacturers, iHeartMedia makes itself more accessible, convenient, and well known. This strategy is directly reflective of the rebranding because it exposes more users to the services provided by iHeartMedia.

iHeartMedia did not stop there. On October 15th, Gayle Troberman was named the Chief Marketing Officer of iHeartMedia. This is a new role created with the intention to “connect them (iHeartMedia) more closely to consumers, helping integrate the company’s brands, products and platforms even more deeply into consumers’ daily lives.” [14] This is necessary after the rebranding because it will decrease the amount of time needed for consumers to become familiar with the iHeartMedia brand. This is a fantastic idea and could pay off exponentially for iHeartMedia in the coming years. iHeartMedia is doing a fantastic job of identifying what it needs to improve and is taking logical steps to ensure it remains an industry leader.

What’s in the future:

In the next year, iHeartMedia hopes to continue to reach more customers through social media, live events, and radio. It hopes that its customers will become familiar with the iHeartMedia brand and be able to connect it to popular music events, radio stations, and the iHeartMusic application.

iHeartMedia has embraced the change that is coming to the industry and appears to pioneering the way for other companies to follow it. While the long term effects of rebranding remain to be seen, it has initially been successful. In the next half year, look for iHeartMedia’s competitors to try and catch up with the ability to move across platforms.

Resources

[1] Clear Channel Becomes iHeartMedia. Published September 16, 2014. Accessed November 22nd.

[2] Clear Channel Logo. Published June 26, 2012. Accessed November 29th.

[3] iHeartMedia INC. Logo. Date Published N/A. Accessed November 29th.

[4] Corporate Team. Date Published N/A. Accessed November 22nd.

[5] Stock Information. Updated Daily. Accessed November 29th.

[6] Financial Report. Published October 28th, 2014. Accessed November 22nd.

[7] Pandora Logo. Date Published N/A. Accessed November 22nd.

[8] iHeartMedia Fiesta Latina Announcement. Published October 2nd, 2014. Accessed October 30th.

[9] iHeartMedia Factsheet. Date Published N/A. Accessed November 22nd.

[10] iHeartRadio Fiesta Latina Logo. Published November 22nd. Accessed November 29th

[11] Jingle Ball Tour. Published October 9th. Accessed November 22nd.

[12] iHeart Media Omnicom Partnership. Published October 7th, 2014. Accessed November 22nd.

[13] iHeartRadio Android Wear Integration. Published October 8th, 2014. Accessed November 22nd.

[14] Gayle Troberman named iHeartMedia’s Chief Marketing Officer. Published October 15, 2014. Accessed November 22nd.

Clear Channel Communications

Posted on April 8, 2013 by Sarah Arlotto

by Sarah Arlotto

Clear Channel Communications’ logo- courtesy of clearchannel.com

Company Information

http://www.clearchannel.com

Address: 200 East Basse Road, San Antonio, Texas, 78209

Telephone: (210) 822-2828

A Brief History and Overview

Clear Channel Communications, Inc. was founded in 1972 with the purchase of its first FM radio station in San Antonio, Texas. After expanding throughout Texas, and then globally, Clear Channel has become one of the world’s largest media and entertainment companies. Besides Clear Channel’s Media & Entertainment sector, it also has an outdoor advertising division called Clear Channel Outdoor. Clear Channel Outdoor has over one million displays in over 30 countries. Clear Channel aims to be America’s only radio company that offers local presence with national reach and to develop innovative and dynamic campaigns for advertisers.[1]

Clear Channel Media and Entertainment

With 850 radio stations broadcast to over 150 markets, Clear Channel reaches over 243 million listeners every month and has a greater reach than any other radio or television outlet in the United States. They deliver a variety of content including music, news, talk, sports, and comedy, on a number of platforms such as AM/FM stations, in-vehicle satellite radio, HD radio, and online radio. Clear Channel also offers a digital music service called iHeartRadio. It is free and can be accessed through online internet streaming and through a mobile app. iHeartRadio gives listeners access to over 1,500 live radio stations and the opportunity to create customized stations based on their artist and song and genre preferences. Clear Channel also offers live music events such as their annual iHeartRadio Music Festival.[1]

What Is iHeartRadio? [13]

Key Executives

Bob Pittman [2]

Bob Pittman is Clear Channel Communications’ Chief Executive Officer.[2]

Tom Casey [2]

Tom Casey is Chief Financial Officer and Executive Vice President of Clear Channel Communications.[2]

Wendy Goldberg [2]

Wendy Goldberg serves as Chief Communications Officer and Senior Vice President for Clear Channel Communications. She oversees and executes strategic communications for all of the Clear Channel Brands.[2]

Robert H. Walls, Jr. [2]

Robert H. Walls, Jr. is General Counsel and Executive Vice President of Clear Channel Communications. He oversees the legal and government affairs departments within the company.[2]

John Hogan [2]

John Hogan is the Chairman and Chief Executive Officer of Clear Channel’s Media and Entertainment Division. He oversees the development and organization of Clear Channel’s radio stations.[2]

John Skyes [2]

John Skyes is the President of Entertainment Enterprises for Clear Channel. He helps to develop new business for Clear Channel Communications. He is also on the board of many organizations including Syracuse University’s Newhouse School of Public Communications.[2]

Financials

Clear Channel Communications is a privately traded company. Shares of their parent company, CC Media Holdings, Inc. are traded under the ticker symbol CCMO. Clear Channel Outdoor Holdings, Inc. is traded separately under the ticket symbol CCO.[3]

CCMO’s revenues have been increasing slowly since December 31, 2009. The recorded revenues for December 31, 2012 were $6,246.9 million. Operating expenses have also been on a steady increase. Since December 31, 2009 CCMO has also been experiencing a net loss of income every year. The net income recorded for December 31, 2012 was $424.5 million. This loss of income can be explained by rising operating expenses and only a very small increase in revenues.[4]

In the News

January: On January 7^thClear Channel Media and Entertainment updated their iHeartRadio app. They added a “Perfect For” feature that will allow users to choose a playlist based on their current mood or activity. They have also added an alarm clock and a sleep timer feature to the application, making it so iHeartRadio can be the first thing that listeners hear when they wake up in the morning and the last thing they hear before they fall asleep at night.[5]

Clear Channel’s iHeartRadio app “Perfect For” feature [15]

Clear Channel also announced that iHeartRadio will be made compatible in Chrysler Group and General Motors Company vehicles. The new made-for-driving application will be called “iHeartAuto” and will make it easier and safer for users to listen to their favorite radio stations and artists straight from their car.[6]

February: On February 11^th Clear Channel Media and Entertainment released their findings from recent research study that concluded that by reallocating a small amount of money to radio advertising can help companies increase their brand’s reach. These findings are explained by the notion that radio reaches an audience that is more receptive and open to marketing ideas and suggestions.[7] On February 13^th Clear Channel announced that they have a new partnership with Robbins Entertainment, a music label. As part of the deal, Clear Channel will be sharing all of its radio revenues as well as its digital broadcast revenues with the artists under the Robbins Entertainment label. Clear Channel has closed similar deals over the past few months with other record labels.[8]

March: On March 11^th Clear Channel unveiled an “Add-Ins” feature to their iHeartRadio app. This feature will allow listeners to insert local news, weather, and traffic to their custom stations. This innovation will allow Clear Channel to grow as a national radio provider while still localizing and personalizing their services.[9] On March 15^th Clear Channel announced their partnership with Target to promote Justin Timberlake’s new album: “The 20/20 Experience.” Together, Target and Clear Channel will host an iHeartRadio album release party on March 18^th. 120 lucky winners will be flown to Los Angeles for the event.[10]

“The 20/20 Experience” album release party [16]

On March 28^th Clear Channel announced that their annual iHeartRadio Music Festival will be held at the MGM Grand in Vegas for its third year. Part of the festival includes the Macy’s iHeartRadio “Rising Star Campaign” where 25 new artists compete for a spot in the festival alongside big names in the industry. Clear Channel also puts on a “Road to Vegas” campaign to promote the event, where hundreds of listeners will be awards trips to the concert. The event will take place September 21 and 22, 2013.[11]

Voting page for Macy’s Rising Star Campaign [13]

April: On April 1^st Clear Channel Media and Entertainment announced a partnership with Big Machine Label Group. Together the two companies will release The Band Perry’s second album, called PIONEER. The idea of the campaign is to increase audience awareness through an on-air Artist Integration Program to introduce the new album to listeners. The campaign will also include on-air interviews with the artists and a live performance.[12]

The Band Perry [17]

References

[1] http://www.clearchannel.com/Corporate/Pages/about.aspx

[2] http://www.clearchannel.com/Corporate/Pages/our-team.aspx

[3] http://www.clearchannel.com/Investors/Pages/faq.aspx

[4] http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=CCMO

[5] http://www.clearchannel.com/Pages/IHeartRadio-Unveils-New-“Perfect-For”-Feature—Now-Users-Can-Listen-To-Stations-Based-On-Their-Moods-And-Activities.aspx

[6] http://www.clearchannel.com/Pages/iHeartRadio-Expands-Its-Reach-Across-The-Automotive-Industry-With-Integrations-in-Chrysler-Group-and-General-Motors-Vehicle.aspx

[7] http://www.clearchannel.com/Pages/Research-Shows-That-Mix-Of-Radio-And-Tv-Gives-Advertisers-Bigger-Bang-For-Their-Buck.aspx

[8] http://thenextweb.com/media/2013/02/13/clear-channel-will-share-digital-radio-revenues-with-robbins-entertainments-music-artists/

[9] http://finance.yahoo.com/news/iheartradio-introduces-local-news-traffic-130000770.html

[10] http://www.webwire.com/ViewPressRel.asp?aId=171678

[11] http://www.billboard.com/biz/articles/news/branding/1554919/clear-channels-iheartradio-music-festival-announces-return-to

[12] http://www.clearchannel.com/Pages/Clear-Channel-Media-and-Entertainment-and-Big-Machine-Label-Group-to-Launch-Artist-Integration-Program-Around-The-Band-Perr.aspx

[13] http://macys.iheart.com/macys/

[14] http://www.youtube.com/watch?v=ZhQSr2SugXA

[15] http://www.allaccess.com/net-news/archive/story/113908/iheartradio-unveils-perfect-for-feature-based-on-l

[16] https://www.facebook.com/iheartradio

[17] http://www.countrymusicislove.com/category/the-band-perry

SiriusXM Radio

Posted on April 4, 2013 by Trevor Gill

by Trevor Gill

Courtesy of SiriusXM.com

The Basics

Website: www.SiriusXm.com

Address

221 Avenue of the Americas #36

New York, NY 10020

Phone Number: (212) 584-5100

Social Media: Twitter Facebook Instagram Youtube

What is it?

Sirius XM Radio is one of the largest subscription media companies in the United States, providing commercial free satellite radio to subscribers who pay anywhere from $14.49 to $17.99 per month (depending on the package they choose).

Courtesy of IMDB.com

Sirius XM has 23.9 million subscribers. The service offers over 140 channels with content ranging from Howard Stern talk radio, to hits from Jimmy Buffett, to NASCAR and beyond. Subscribers can access content either built into their vehicles via satellite, on Sirius XM’s website, or on mobile applications available for Apple and Android powered devices. (1)

A visual of what Sirius XM is all about, courtesy of their website.

Courtesy of SiriusXM.com

James E. Meyer, Courtesy of satelliteradioplayground.com

Key People

James E. Meyer, Chief Executive Officer

James Meyer joined Sirius XM radio in May of 2004, and after former CEO Mel Karmazin stepped down from the position, Meyer took over as CEO on December 18^th, 2012. Before becoming CEO, Meyer held the position of President of Operations and Sales. Said Meyer, “Sirius XM is a great business and I look forward to working with our talented management team to continue to deliver the best content and service to our subscribers, while enhancing value to our shareholders.” (2)

Scott Greenstein, President and Chief Content Officer

Scott Greenstein is in charge of programming and marketing for Sirius XM. Greenstein previously was a consultant to the company on contractual agreements negotiated with the National Football League. (3)

Dara Altman, Executive Vice President and Chief Administrative Officer

Altman was previously the Executive Vice President of Business and Legal Affairs for XM Satellite Radio, prior to the merger between Sirius and XM. (4)

What’s Going On Today?

Financial News

On February 5^th Sirius XM released its annual financial report from 2012. The company reported that 2012 revenue was $3.4 billion, a 13% increase from 2011 revenue, which was $3.0 billion. Another positive for Sirius XM was that Net Income for 2012 was $3.5 billion, compared to $427 million in 2011. Net Income was higher than revenue for 2012 because of a $3 billion income tax benefit, and thanks to $130 million due to a loss on extinguishment of debt.

Sirius XM was also happy to announce that it added 2 million subscribers in 2012. That is the largest amount of added subscriptions since 2007 (before Sirius and XM merged).

Sirius XM predicts that 2013 revenues will exceed $3.7 billion. Also predicted is a total net subscriber addition of 1.4 million. (5)

On the negative side for Sirius XM, on Friday April 5th its stock (SIRI), dipped below $3 for the first time since late February. The stock dropped to $2.95, the lowest price so far in 2013. However on Monday, April 8^th the stock closed at $3.04 per share, up from what was a down last week. (6)

The Competition

On April 2^nd, A new study by The NPD Group suggest that streaming music is quickly gaining ground on traditional terrestrial radio, especially with the younger demographics (ages 13-35). The report, which looks at the fourth quarter of 2012, shows that in this 13-35 demographic, 23% of music is being heard on Internet radio, while 24% is still heard on traditional AM/FM radio. The report shows that just 5% of listeners in this age group listen to music via satellite radio.

Courtesy of NPD.com

Breaking down the 23% of Internet “streaming” radio usage, Pandora leads the way, taking up 39% of users time. In second is iHeartRadio, which accounts for 11% of usage amongst ages 13 and 35 in the 4^th quarter of 2012. (7)

Courtesy of NPD.com

Apple

According to Paul Sloan of CNET.com Apple is in the works of signing deals with both Warner Music and Universal Music Group to allow Apple and iTunes to offer streaming content, similar to what Pandora offers. The new product is rumored to be called iRadio. This would add another huge source of competition for Sirius XM, especially if the Apple product is free (or cheaper than Sirius XM’s monthly rate). (8)

Courtesy of CNET.com

Current Programing

Super Bowl Coverage

Courtesy of twitter.com

Sirius XM Radio offered in-depth coverage of Superbowl 47, which included broadcasting the game in eight foreign languages, and airing Beyonce’s halftime performance live. In addition, they offered coverage all Superbowl week long with specials from SiriusXM NFL Radio, Mad Dog Radio, Maurice Jones-Drew, Jeff Foxworthy and more. Sirius XM also aired a limited-run, special New Orleans jazz Channel called “Radio New Orleans” from February 1^st – 3^rd. (9)

Town Hall Exclusive with Al Gore

Courtesy of biography.com

On Thursday, February 28^th Sirius XM’s “Town Hall” series sat down with former Vice President Al Gore to discuss his new book “The Future: Six drivers of Social Change”. The special was hosted by Ari Rabin-Havt, who hosts The Agenda on Sirius XM, and allowed for audience members to ask Gore about a wide variety of topics. (10)

New 24/7 Entertainment Weekly Channel

On March 1^st, Sirius XM announced that Entertainment Weekly would launch an all-new channel, Entertainment Weekly Radio, offering 24/7 coverage of all the latest news in the world of entertainment. The channel will offer shows hosted by Entertainment Weekly and EW.com editors, featuring news, interviews, opinions and more. (11)

New Addition to Mad Dog Radio

Courtesy of twitter.com

On March 4^th, Sirius XM announced that Adam Schein has joined its all-sports Mad Dog Radio channel. Schein will host his own show, Schein on Sports. Schein previously worked for Sirius XM in 2004. He also currently works for SportsNet New York (SNY) and the CBS Sports Network. Prior to that Schein had worked at WFAN Radio in New York, and Fox Sports Radio.

Schein graduated from Syracuse University’s S.I. Newhouse School of Public Communications in 1999. (12)

More Live Coverage

NCAA Final 4

Sirius XM provided an array of live broadcasts from The NCAA Final Four in Atlanta, including coverage of the National Championship game. Shows such as Inside College Basketball, Tim Brando Show, and SiriusXM’s Final Four Roundtable all provided live coverage from Atlanta, from Thursday April 4^th, to Tuesday April 9^th. (13)

The Masters

Courtesy of espn.go.com

Sirius XM will offer live hole-by-hole coverage of the 2013 Masters on the PGA TOUR Radio Channel from the Augusta National Golf Club in Georgia. The Masters coverage will last the length of the tournament from Thursday April 11^th, to Sunday April 14^th. The channel will also offer a two-hour pre-Masters show before each day of the event, and Masters Review recapping each round. (14)

Sources

1. Sirius XM Corporate Website

2. James Meyer Corporate Bio

3. Seth Greenstein Corporate Bio

4. Dara Altman Corporate Bio

5. Sirius XM 2012 Report

6. This Week in Sirius XM Radio – The Motley Fool

7. NPD report on Radio Streaming Usage

8. CNET.com article by Paul Sloan

9. Sirius XM Press Release (on Superbowl coverage)

10. Sirius XM Press Release on Town Hall Event

11. Sirius XM Press Release on Entertainment Weekly Announcement

12. Sirius XM Press Release on Adam Schein Addition

13. Sirius XM Press Release on Final 4 Coverage

14. Sirius XM Press Release on 2013 Masters Coverage

Clear Channel

Posted on April 3, 2013 by Lucy Bartozzi

by Lucy Bartozzi

http://www.clearchannel.com

200 E. Basse Road San Antonio, TX 78209

(210) 822 – 2828

About Clear Channel

Clear Channel Communications is a global media and entertainment company specializing in radio broadcasting and outdoor advertising. The company was founded in 1972 in San Antonio, TX with the purchase of a single FM radio station [1]. Currently, Clear Channel is privately owned by Bain Capital and Thomas H. Lee Partners [2]. Clear Channel operates as CC Media Holdings and consists of two main businesses: Clear Channel Outdoor Holdings and Clear Channel Media and Entertainment [1].

Clear Channel Media and Entertainment

Clear Channel Media and Entertainment (CCME) owns and operates 840 broadcast radio stations, reaching nearly 243 million monthly listeners. CCME services 150 U.S. markets, as well as 140 radio stations in Australia and New Zealand. This gives Clear Channel the largest reach of any radio or television outlet in the United States [3]. Operations of CCME include radio broadcasting, online and mobile services and products, program syndication, entertainment, traffic data distribution, and music research services [2]. CCME’s content is distributed on a variety of platforms including AM/FM stations, satellite radio, the Internet, in-vehicle navigation systems, iHeartRadio, and mobile devices. Properties of CCME include Premiere Networks, a national radio network with 90 radio programs in syndication, Katz Media Group, the leading media representation company in the United States, and Total Traffic Network, a service that delivers real-time local traffic flow and information to over 3,000 radio and 200 television affiliates [4].

iHeartRadio

iHeartRadio, launched in 2008 by Clear Channel, gives users access to over 1,500 live radio stations across the country and the ability to create custom stations. This service is available online and as a mobile application for smartphones and tablets, as well as in-vehicle systems and some gaming consoles. Users are able to stream a wide variety of content, including pop, country, talk, sports, and college radio. In just 13 months, iHeartRadio reached a milestone of 20 million registered users [5].

Key Executives [6]

Bob Pittman, Chief Executive Officer

Tom Casey, Chief Financial Officer and Executive Vice President

Robert H. Walls Jr., Executive Vice President and General Counsel

John Hogan, Chairman and CEO of Media and Entertainment

Financials [2]

Clear Channel estimates that nearly half of their revenue is derived from CCME, with the primary source of this revenue being the sale of commercials on their radio stations
Clear Channel’s total revenue for 2012 equaled $6,246,884
CCME’s total revenue for 2012 equaled $3,084,780, a $98 million increase from 2011
In 2012, CCME saw an increase in digital revenue, event sponsorship revenue, and traffic business revenue; however, direct expenses and SG&A expenses increased as well

New Developments at Clear Channel

On March 6, 2013 Clear Channel and eOne, the fastest-growing independent music company in the U.S., announced an agreement to share revenue from digital and terrestrial radio. Since its inception, eOne Music has charted more than 100 albums on Billboard’s Independent Chart. Clear Channel has recently entered into similar agreements with Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment, and Naxos [7].

On March 11, 2013 Clear Channel introduced a new feature for their iHeartRadio service which will enable users to to add short local news, weather, and traffic updates into their custom station when listening online. Clear Channel hopes that these “Add-Ins” will provide users with a custom experience they can’t find anywhere else. Users will be able to receive localized information based on their current location or choose to receive updates from different markets across the country. Add-Ins will soon be available on the iPhone, Android, and other platforms [8].

On March 13, 2013 Clear Channel launched its second broadcast Electronic Dance Music (EDM) station, Evolution 93.5 Miami. The new format will feature non-stop dance music from artists such as Skrillex, David Guetta, Calvin Harris, and more. On March 25, the station began airing a two-hour long daily show titled “All Gone Pete Tong” featuring Pete Tong’s Essential New Tune of the Week and the hottest track from the global Top 100 chart on Beatport.com. The show broadcasts Monday through Friday from 7 – 9 p.m. EST and additionally features Tong’s mixes, on-air interviews, and guest-hosted radio shows. EDM fans across the country can listen to Evolution as well on iHeartRadio [9].

On March 28, 2013 Clear Channel announced the return of their iHeartRadio Music Festival, as well as the continuation of their partnership with Macy’s. For its third year, the event will be held at the MGM Grand in Las Vegas on September 20 and 21, 2013. Macy’s iHeartRadio Rising Star campaign will return as well, spotlighting America’s emerging musicians and giving one lucky artist or band the opportunity to perform at the iHeartRadio Music Festival. Clear Channel listeners, iHeartRadio fans, and Macy’s shoppers will have the opportunity to vote for their favorite performer online until May 12. Bon Jovi, Jason Aldean, Lil Wayne, Swedish House Mafia, Taylor Swift, Linkin Park, and Aerosmith are just a few of the names that have previously performed at the festival [10].

On April 1, 2013 Clear Channel Media and Entertainment announced a partnership with Big Machine Records to launch The Band Perry’s sophomore album, PIONEER. Following the release of the album on April 2, Clear Channel will launch a two-week on-air and online Artist Integration Program to introduce the new music to fans and listeners. On April 3, The Band Perry will perform for iHeartRadio Live at the iHeartRadio Theater. The goal of this campaign is to raise audience awareness by featuring custom content and spots on a multitude of Clear Channel’s different platforms [11].

Sources

[1] http://www.clearchannel.com/Corporate/Pages/about.aspx

[2] http://edgar.secdatabase.com/1389/73970813000003/filing-main.htm

[3] http://www.clearchannel.com/CCME/Pages/default.aspx

[4] http://www.clearchannel.com/CCME/Pages/Brands.aspx

[5] http://www.clearchannel.com/CCME/Pages/iHeart.aspx

[6] http://www.clearchannel.com/Corporate/Pages/our-team.aspx

[7] http://www.clearchannel.com/Pages/Clear-Channel-And-Entertainment-One-(Eone)-Announce-Agreement-To-Share-Digital-And-Broadcast-Radio-Revenue-With-Artists.aspx

[8] http://www.clearchannel.com/Pages/iHeartRadio-Introduces-Local-News,-Traffic-and-Weather-Add-Ins-to-its-Custom-Stations-.aspx

[9] http://www.clearchannel.com/Pages/Clear-Channel-Media-And-Entertainment-Brings-EDM-To-Miami%E2%80%99s-Airwaves-With-Evolution-93-5.aspx

[10] http://www.clearchannel.com/Pages/The-iHeartRadio-Music-Festival—The-Biggest-Live-Concert-Event-In-Radio-History—Returns-to-the-MGM-Grand-in-2013-.aspx

[11] http://www.clearchannel.com/Pages/Clear-Channel-Media-and-Entertainment-and-Big-Machine-Label-Group-to-Launch-Artist-Integration-Program-Around-The-Band-Perr.aspx

Clear Channel

Posted on December 7, 2012 by hjparker

by [Holly Parker]

http://www.clearchannel.com/

Address: 200 East Basse Road, San Antonio, TX 78209

Telephone: (210) 822-2828

Overview

Clear Channel Communications is a private communications company, founded in 1972 and based out of San Antonio, Texas. It is privately owned by Bain Capital and Thomas H. Lee Partners. Clear Channel is most well known for its radio station ownership but the company also owns outdoor advertising around the country. The two main divisions of the company are Clear Channel Media & Entertainment and Clear Channel Outdoor. [1]

Clear Channel Media & Entertainment

Clear Channel Media & Entertainment (CCME) is the radio division of Clear Channel and serves 150 cities through 850 radio stations. Its stations are broadcast on a wide variety of platforms including AM/FM stations, satellite radio, HD radio, and iHeartRadio which streams music on mobile phones and the Internet. CCME has divisons including “radio broadcasting, online and mobile services and products, syndication, music research services and independent media representation.” [2]

Clear Channel Media Statistics [2]

With 239 million monthly listeners in the U.S., Clear Channel Media and Entertainment has the largest reach of any radio or television outlet in America.
100 million listening hours a month
Over 45 million monthly digital uniques
15 million+ fan reach through station and radio personality Facebook pages

Robert Pittman, CEO of Clear Channel

Key Executives [3]

Robert Pittman, Chief Executive Officer: Mr. Pittman is a giant in the world of media communications. He is the founder of MTV and became CEO of Clear Channel Communications in October 2011. He has helped increase the company’s digital presence and stated that he wants to make Clear Channel’s stations free on as many platforms as possible. [4]
Tom Casey, Chief Financial Officer and Executive Vice President
Robert H. Walls, Jr., Executive Vice President and General Counsel
John Hogan, Chairman and CEO, Clear Channel Media and Entertainment

Financials [5]

In the third quarter of 2012, Clear Channel Media and Entertainment (CCME) was up 1%, or $7 million, in revenues compared to the third quarter of 2011. This increase was primarily the result of a 3% increase in radio revenues, due to an increase in national advertising, digital radio services, and the iHeart Radio Music Festival in September.
At the end of the third quarter, CCME had a revenue of $798.8 million, and Clear Channel Communications increased its overall revenue by 2% up to $1.59 billion.
However, the company may have some financial troubles in the coming years. It needs to refinance more than $10 billion in debt, due in 2016. Its debt by this year will likely outnumber its asset value. This debt has caused some to speculate that the company may have to merge or sell off some of its assets. [6]

iHeartRadio

iHeartRadio is a company owned by Clear Channel consisting of a mobile application and an Internet radio website. Its website states that iHeartRadio is a “free, all-in-one digital radio service that lets you find more than 1,500 Live Stations or create commercial-free, all-music Custom Stations featuring songs from the artist you select and similar music” [7]. The company has proved quite successful for Clear Channel and has helped keep radio in the 21st century. It allows users to stream from a wide variety of radio stations around the country. The company has evolved to become more versatile than just streaming radio stations over the Internet; it now has customizable stations similar to Pandora.

In November, iHeartRadio announced that they had reached 20 million users and surpassed 135 million app downloads [8].

iHeartRadio’s website homepage

iHeartRadio Music Festival 2012

The 2nd annual iHeartRadio Music Festival was held this year on September 21 and 22 in Las Vegas, and featured popular musical acts such as Rihanna, Lil Wayne, Taylor Swift, No Doubt, and Aerosmith. The festival was also broadcast on The CW on October 1. The first iHeartRadio Music Festival took place last year and kicked off the official launch of iHeartRadio. Of the festival, CEO Robert Pittman said: “The iHeartRadio Music Festival is an indication of Clear Channel’s ongoing commitment to music and artist development — maximizing artists’ exposure to fans and audiences nationwide.” [1]

Katz Media Group

Katz Media Group is a subsidiary of Clear Channel Communications and a leading media representation company in the United States. Katz’s website explains: “With more than 4,000 radio stations and 500 television stations retaining our services, we are the only media representation company to serve a variety of over-the-air and digital platforms.” [9] Katz recently announced that it set a digital sales record for its Digital Display Network and Online Audio Network, reaching more than 100 million and 66.5 million unique monthly users respectively. [10]

Other Clear Channel Media & Entertainment News

September 27, 2012: Clear Channel made an agreement with Glassnote Entertainment Group, that will “align the companies’ business interests, accelerate growth and innovation in digital radio and enable Glassnote and its artists to share in all Clear Channel radio revenue streams.” [11] The agreement comes in hopes of accelerating the digital music industry. Glassnote, an independent record and publishing company, represents such artists as Mumford & Sons, Childish Gambino, Phoenix, and The Temper Trap. These artists and others represented by the music company will benefit from this deal with Clear Channel.

October 12, 2012: The Australian Radio Network (ARN) announced that they would launch iHeartRadio in Australia and New Zealand, providing a lucrative opportunity for Clear Channel Media & Entertainment to expand their company internationally. The service will launch in Australia and New Zealand in 2013 and will be marketed through Clear Channel International’s media assets. [12]

November 8, 2012: Clear Channel Media & Entertainment announced, in partnership with The Madison Square Garden Company and The Weinstein Company, plans for a concert called 12-12-12, A Concert For Sandy Relief. The one night only concert will raise money for people in the tri-state area (New York, New Jersey, and Connecticut) affected by Hurricane Sandy and will take place on December 12, 2012 in Madison Square Garden. All money raised will be administered to the Robin Hood Relief Fund. John Sykes, President of Clear Channel Entertainment Enterprises, will help produce the event. The lineup for the concert includes huge name musical acts such as Paul McCartney, Eric Clapton, Bon Jovi, The Who, Billy Joel, Bruce Springsteen & The E Street Band, Alicia Keys, and Kanye West. [13]

November 20, 2012: Clear Channel will sponsor a series of annual holiday concerts across the country called Jingle Ball 2012. Each year Clear Channel stations across the country host Jingle Ball concerts in local cities, featuring performances by top recording artists and emerging new talent. Washington, DC’s Hot 99.5 and Atlanta’s Power 96.1 are hosting Jingle Ball for the first time this year. Concerts will also take place in Detroit, Los Angeles, Minneapolis, Philadelphia, Boston, New York, Miami, Tampa, San Francisco, and Seattle. [14]

December 3, 2012: Triton released its Online Audio Rankings for October 2012, declaring Clear Channel #2 in ratings behind Pandora. The report lists Clear Channel as having 281,782 Average Active Sessions (AAS). AAS is defined as Total Hours Listening (total number of hours the station/publisher has streamed) divided by hours in the reported time period. Clear Channel is also listed as having 0.61 average hours listening. Above Clear Channel, Pandora has 1,561,757 Average Active Sessions and 0.64 average hours listening. [15]

December 6, 2012: Clear Channel made a number of layoffs in large and mid-sized markets. It is unclear how many layoffs were made, but the company said in a statement that “this creates some new jobs, and unfortunately eliminates others.” The company is continuing to evolve its organizational structure. [16]

References:

1. http://www.clearchannel.com/

2. http://www.clearchannel.com/MediaAndEntertainment/

3. http://www.clearchannel.com/Corporate/PressRelease.aspx?PressReleaseID=1168&p=hidden

4. http://www.tritondigital.com/news-items/pittman-envisions-new-life-for-radio

5. http://www.ccmediaholdings.com/documents/Quarterly/CC-Media-Holdings-Q3-2012-Earnings-Release.pdf

6. http://www.bizjournals.com/sanantonio/blog/2012/12/clear-channel-facing-cloudy-financial.html

7. http://www.iheart.com/about/

8. http://www.slashgear.com/iheartradio-surpasses-20-million-users-sees-over-135-million-downloads-20257809/

9. http://www.katz-media.com/default.aspx

10. http://www.katz-media.com/newsroom/Lists/Newsroom/DispForm.aspx?ID=127&ContentTypeId=0x0104001CC469D696FE464A8A8D4A5554FA03A2

11. http://www.clearchannel.com/MediaAndEntertainment/PressRelease.aspx?PressReleaseID=3148

12. http://www.clearchannel.com/MediaAndEntertainment/PressRelease.aspx?PressReleaseID=3138

13. http://www.clearchannel.com/MediaAndEntertainment/PressRelease.aspx?PressReleaseID=3152

14. http://www.clearchannel.com/MediaAndEntertainment/PressRelease.aspx?PressReleaseID=3157

15. http://www.tritondigital.com/media/default/rankers/oct-ranker-2012.pdf

16. http://www.insideradio.com/Article.asp?id=2588722&spid=32061#.UMETv5PjlKo

17. Logo image: http://typophile.com/files/Clear-Channel-logo%20edit_5618.jpg

18. Pittman image: http://rbr.com/wp-content/uploads/Bob_Pittman1.jpg

19. iHeartRadio image: http://www.iheart.com/

20. 12-12-12 image: http://www.121212concert.org/

Clear Channel Communications

Posted on September 18, 2012 by grsanson

by [Gabriel Sansone]

Clear Channel Communications Logo [1]

Who is Clear Channel?

Clear Channel Communications is a global entertainment and media company from San Antonio, Texas, that specializes in digital and radio platforms, as well as outdoor advertising. Clear Channel’s radio division, Clear Channel Media and Entertainment, reaches 239 million monthly listeners in the United States, giving it the largest reach of any television or radio outlet in the country.[2] Clear Channel Media and Entertainment has holdings in 150 cities and owns 850 radio stations,[3] which can be heard via AM/FM transmission, Sirius/XM satellite radio, HD digital radio, the Internet, mobile applications on smartphones and iPads, and navigation systems from Garmin and TomTom. Other properties of Clear Channel Media and Entertainment include Premiere Radio Networks, the number one radio network in the country with 90 radio programs in syndication, and Katz Media Group, the leading media representation company in the U.S., with over 500 television and 4,000 radio stations.[2] Clear Channel Media and Entertainment also owns iHeartRadio, a free digital radio service that allows users to listen to more than 1,500 Live Stations.[2] Clear Channel Media and Entertainment is run by Chairman and CEO John Hogan, who graduated from Lake Forest College in 1979.[4]

Clear Channel’s History

Clear Channel Communications was founded in 1972 by Lowry Mays and Red McCombs as the San Antonio Broadcasting Company, and by 1984 Clear Channel had six AM and six FM stations in seven different markets. Clear Channel first entered the television business in 1988, and by 1995 was in control of 43 radio stations and 16 television stations in 32 different markets. With the passage of the Telecommunications Act of 1996, the company acquired 49 new radio stations that covered 20 markets. In 1997, Clear Channel acquired Eller Media Company, helping it to become a leader in outdoor advertising. By 1999, Clear Channel was ranked by The Wall Street Journal as the fifth best-performing stock of the 1990s, and today, under the leadership of CEO Bob Pittman, Clear Channel continues to be one of the leaders in both the entertainment and advertising industries.[5]

What’s Clear Channel Doing Today?

September

On September 27^th, Clear Channel announced that it had struck a deal with Glassnote Entertainment Group to pay sound recording performance royalties to artists signed to the Glassnote record label, whether their songs are played via digital media or over the air.[6] The revolutionary deal, similar to one Clear Channel

Glassnote Entertainment Group Logo [8]

forged with the Big Machine Label Group in June, allows the label to receive a (undisclosed) percentage of Clear Channel’s digital and terrestrial advertising revenue, as opposed to just receiving revenue on a per-play basis.[7] Clear Channel CEO Bob Pittman released a statement to the press, saying that the deal not only allows for Glassnote Entertainment Group artists to participate in Clear Channel’s radio revenues, but “it also creates a vibrant new digital radio business model that we believe will provide more money for the artists and the labels and more digital choices for the consumer.”[7] Popular Glassnote artists that will benefit from this deal include Mumford and Sons, Childish Gambino, and Phoenix.

October

On October 25^th, Clear Channel announced that the company successfully completed a private debt exchange of $1,999, 815,000 for new notes that are worth the same principal amount but due in 2019.[9] As Clear Channel is currently in almost $20 billion in debt,[10] this debt exchange is a step in the right direction for providing the company with “greater flexibility to manage our debt maturities in the future,” says company Executive Vice President and Chief Financial Officer Tom Casey.[9] The offering was reportedly highly oversubscribed, which shows that debtholders are prepared to allow Clear Channel more years to repay some of its debt.[11]

Throughout the week of October 27^th, Clear Channel dismissed dozens of local radio D.J.’s across the country in an effort to revamp their 600 U.S. regional stations. In a company statement, spokeswoman Wendy Goldberg said the firings came about because Clear Channel rethought their regional market strategy and “reinvented our operations in those markets in a way that will let us…succeed using all of Clear Channel’s resources, scale and talent.” However, the layoffs proved controversial, as many media reform groups believe that Clear Channel is sacrificing radio’s integrity by replacing locally produced programs with less costly shows that are syndicated nationally.[10]

On October 29^th, Clear Channel announced that it had stuck a deal with another record label, Naxos. Naxos is America’s largest digital distributor of independent

Naxos Logo [14]

classical music, with over 30,000 albums from various classical labels, including 6,500 on its own labels.[12] The deal is different from Clear Channel’s previous deals with Big Machine and Glassnote, as it only permits Clear Channel to pay Naxos for digital, not terrestrial, radio play.[13] The agreement is representative of Clear Channel’s current desire to continue to help radio permeate the digital world, and as part of the deal Naxos will assist with iHeartRadio’s digital classical station, “Classica.”[12]

November

On November 2^nd, Clear Channel released their quarterly earnings report for the third quarter of 2012, which ended on September 30^th of 2012. Clear Channel Media and Entertainment revenues experienced a 1%, $7 million dollar increase in comparison to the third quarter of 2011. This increase is due in large part to a 3% growth in radio revenues, which occurred as a result of increased national advertising, the growing popularity of digital radio service iHeartRadio, and the iHeartRadio Music Festival.[15]

On November 20^th, Clear Channel announced that its popular digital radio service, iHeartRadio, has been downloaded more than 135 million times and has over 20

iHeartRadio Logo [17]

million registered users. These numbers are particularly impressive, considering that iHeartRadio was launched a mere 13 months ago. In a company statement, Clear Channel Media and Entertainment Chairman/CEO John Hogan said “iHeartRadio has reinvented the digital radio experience and is a key element of how Clear Channel continues to reshape the media and entertainment industry.”[16]

On November 29^th, it was announced that innovative social commerce web site Lockerz made an agreement with iHeartRadio. Lockerz is a website on which users can discover the latest fashion trends and top brands, receive points (called PTZ) for sharing images and videos from the web, and use their PTZ for big discounts on fashion and electronic products.[18] Now, iHeartRadio’s 1,500 live and user-created custom stations are available on Lockerz, and members can earn PTZ for sharing and adding their favorite music and radio stations. Clear Channel hopes the agreement will help iHeartRadio to continue to grow in popularity. “Lockerz has built an incredibly passionate and social user base and is a great distribution platform for us,” said Brian Lakamp, President of Digital for Clear Channel Media and Entertainment.[19]

What’s Next for Clear Channel?

Clear Channel is helping produce the 12-12-12 concert, a show that will take place in New York City on December 12, 2012, with all proceeds from ticket purchases going to the Robin Hood

Poster for the 12-12-12 concert, featuring some of the notable artists who will be playing at the show [20]

Relief Fund to assist the victims of Hurricane Sandy. The concert has already secured distribution to over one billion people via various mediums to maximize awareness and relief efforts, and in a joint statement, event producers James Dolan (Chairman of The Madison Square Garden Company), John Sykes (President of Clear Channel Entertainment Enterprises) and Harvey Weinstein (Co-Founder and Chairman of The Weinstein Company) said the concert and its media distributors “will enable us to create a tremendous and unprecedented fundraising effort on a global scale to benefit the victims of this devastating storm.”[21]

Tickets to the show are currently available on Ticketmaster

Because of its current debt situation, Clear Channel could be experiencing some financial turmoil in the future. According to a Moody’s report released during the week of December 5^th, while Clear Channel should be able to manage the amount of debt they have due through 2015, they could very well be unprepared to deal with the $10 billion of debt that will be due in 2016. Moody’s senior analyst Scott Van den Bosch writes that “the company’s ability to avoid restructuring will be challenging as debt levels will exceed our expected asset value. The possibility of a restructuring or a distressed exchange remains high…in our downside scenario the company is likely to face a restructuring of its balance sheet in excess of $16 billion in debt.” It is possible that Clear Channel will be able to avoid the restructuring, but it is going to “depend on the receptivity of the financial markets and moderate underlying interest rates.” So, in the future, Clear Channel will be very sensitive to changes in the economy.[22]

Contact Clear Channel

Wish to contact Clear Channel Communications?

Web: http://www.clearchannel.com

Mail: 200 E. Basse Rd. San Antonio, TX, 78209.

Phone: (210) – 822 – 2828

Sources

1.http://www.mxdwn.com/wp-content/uploads/2011/11/clear_channel-logo.gif

2.http://www.clearchannel.com/MediaAndEntertainment/

3.http://www.cjr.org/resources/?c=clearchannel

4.http://investing.businessweek.com/research/stocks/people/person.asp?personId=3155827&ticker=CCMO

5.http://www.clearchannel.com/Corporate/PressRelease.aspx?PressReleaseID=1166&p=hidden

6.http://www.radioinfo.com/tag/glassnote-entertainment-group/