Clear Channel to Widen Online, Mobile Streams
Jun 9th, 2009 by admin
With radio advertising on the wane, Clear Channel is looking to bulk up its Internet and mobile presence. A new media player allows users to access its 850 radio stations at one Web address, which is meant to provide advertisers with prime real estate for their messaging.
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Clear Channel Communications, the nation's largest owner of radio stations, is ramping up its strategy to stream radio to mobile phones, computers and other devices.
On Monday, Clear Channel was officially launching an online media player that consolidates access to its roughly 850 radio stations at IHeartRadio.com.
The player also serves as a streamlined showcase for advertisers -- including full-page ads with interactive "widgets" that can be embedded in blogs.
Clear Channel already has an IHeartRadio mobile app, which once was the top application downloaded for the BlackBerry and now is among the top 10.
As traditional radio advertising revenue falls, Clear Channel hopes to offset the slide with Internet and mobile ads.
Clear Channel charges traditional radio advertisers extra to reach an Internet and mobile crowd -- and hopes to attract advertisers who have never bought radio ads.
"We're constantly investing to stay in the cutting edge to grow our audience base," said Evan Harrison, president of Clear Channel's digital division.
However, Moody's analyst Neil Begley said Internet ads will be hard-pressed to replace radio ads: "There is a limitless inventory out there and the rates are pretty low."
The digital properties of San Antonio-based Clear Channel account for about 5 percent of overall revenue, which it estimated at US$3.5 billion for 2009.
Clear Channel went private after a $17.9 billion buyout last year by Bain Capital Partners and Thomas H. Lee Partners, which also assumed $5.9 billion in debt.
Microsoft Lets Zune Users Play Radio Tag (09-Sep-08) Mobile Apps: Salvation for Internet Radio? (30-Aug-08) Dark Cloud Hangs Over Clear Channel Deal (28-Mar-08) Don't miss a story -- sign up for our FREE e-mail newsletters and view the latest headlines at a glance. Tech News Flash [ View Sample ]
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