Bob Pittman is Chairman and CEO of iHeartMedia. He compares iHeartMedia's monthly audience reach against tech platforms, television networks, and streaming services.
“Our radio group alone reaches 90% of Americans every month. Only two companies come close to that, and they don't surpass it. It's Facebook and Google. Everybody else, the biggest TV network in the US reaches about 35% of Americans. Biggest cable network reaches less than 20%. Spotify, Pandora, Sirius, XM reach less than 20% of America.”
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More from Bob Pittman
Insight
Pittman: Truly courageous leaders kill mediocre projects, not just failures
“The real courageous people kill everything that's not a clear winner. Most people only kill things that are clear losers.”
Bob PittmanDec 9, 2022▶ 13:24Bob Pittman: How I Went from Creator of MTV to CEO of iHeartMedia | 20VC #958 · 20VC with Harry Stebbings
Insight
Pittman: In consumer markets, convenience always beats product quality
“Convenience is the winner, not quality. And when you understand that, then you can just bake everything down to is more convenient.”
Bob PittmanDec 9, 2022▶ 33:21Bob Pittman: How I Went from Creator of MTV to CEO of iHeartMedia | 20VC #958 · 20VC with Harry Stebbings
AssertionPartly supported
Pittman: iHeartMedia generates 90% of all podcast industry profits
“And we are now the size of the next two podcast publishers combined. And we prime, so we got the more, more downloads than anyone else by a mile. We've also got more revenue than everybody. But what we really have is we're probably the only podcaster that has …”
Bob PittmanDec 9, 2022▶ 36:24Bob Pittman: How I Went from Creator of MTV to CEO of iHeartMedia | 20VC #958 · 20VC with Harry Stebbings
AssertionContradicted
Pittman: Top 1% of podcasts generate 99% of industry ad revenue
“Oh, it's probably more than that. It's probably, you know, given how many podcasts there are today, it's gotta be one 99.”
Bob PittmanDec 9, 2022▶ 41:59Bob Pittman: How I Went from Creator of MTV to CEO of iHeartMedia | 20VC #958 · 20VC with Harry Stebbings
Insight
Pittman: Cutting ad spending in recessions costs more long-term
“And the most important lesson to learn is, and you learn it the hard way, is if you cut back during the end, during an ad recession, You, when you want to restart after it costs you more money than if you kept advertising through it.”
Bob PittmanDec 9, 2022▶ 44:29Bob Pittman: How I Went from Creator of MTV to CEO of iHeartMedia | 20VC #958 · 20VC with Harry Stebbings
Opinion
Pittman Admits He Wouldn't Give Today's 20-Year-Olds His Early Big Breaks
“Sadly they gave me a shot. I might not give a kid. I might go, that's a kid. I can't give him a shot like that.”
Bob PittmanDec 9, 2022▶ 2:44Bob Pittman: How I Went from Creator of MTV to CEO of iHeartMedia | 20VC #958 · 20VC with Harry Stebbings
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