Audio

iHeartMedia Makes Strategic Investment in Fast-Growing Audio Intelligence Platform; Will Also Unlock New Discovery Tools for Listeners and Advanced Targeting Capabilities for Brands

(NEW YORK - Feb 16, 2022) iHeartMedia, the largest audio media company in the U.S. and the top podcast publisher globally according to Podtrac, announced a partnership today with Sounder, an audio intelligence platform that builds foundational podcasting technology to drive monetization, brand safety and discoverability for audio content. iHeartMedia will leverage Sounder’s Audio Data Cloud to provide both established and emerging podcast creators the best AI and Machine Learning (ML) tools to help them gain critical, real-time insights to accelerate growth and improve monetization. With more than 750 iHeartRadio Original podcasts -- including some of the biggest podcasts and creators in the world -- now using this technology, these new capabilities will rapidly become the industry standard.

iHeartMedia will leverage Sounder’s Audio Data Cloud’s automated best-in-class AI and ML brand safety solution to ensure advertisers can confidently invest in the iHeartPodcast Network’s expansive and rapidly growing line-up of diverse content with more than 392 million downloads and streams a month (more downloads than the next three podcast publishers combined). The brand safety solution enables iHeartMedia’s marketing partners to buy across a wide array of creators with the assurance that the content adheres to industry safety standards.  The technology will quickly expand to also allow advertisers to customize their brand safety guidelines, unlocking new and more diverse publishers to provide even more effective ad placements.  

“As the leader in podcasting, the iHeartPodcast Network hosts the most diverse group of high-quality creators in the world and produces the most podcasts that generate over one million plus downloads. It’s critical that we learn from the challenges advertisers have had with video and social media to deliver safety tools and controls that allow brands to customize their campaigns and ensure that their ads will be delivered at scale in a brand safe environment,” said iHeartMedia Chief Data Officer Brian Kaminsky. “Our partnership with Sounder underscores our commitment to innovation in audio advertising and our goal of creating more meaningful connections between advertisers and listeners. In addition to simple brand safety, this partnership will also unlock brand suitability tools that will dynamically align brands with content and creator-sentiments that supports their goals and objectives.”

Sounder’s Audio Data Cloud enables large publishers the ability to perform brand suitability analysis, topic analysis, content summarization, and dynamic segmentation. These solutions help accelerate the size and engagement of the iHeartPodcast Network’s large and growing audience from the biggest and most diverse shows in the network, to the rapidly growing number of up-and-coming creators. Audio Data Cloud leverages Sounder’s proprietary automated speech recognition technology and powerful AI/ML models. In doing so, it unlocks uncaptured value for all enterprise audio content.

In addition to this commercial partnership, iHeartMedia has also announced a strategic investment in Sounder, as lead investor in the company’s Series A round.

“The audio advertising industry is set for continued explosive growth, but requires the rigor and capabilities of other media,” said Joe Robinson, iHeartMedia’s President of Corporate Development and Ventures. “Sounder has cracked the code on enabling contextual targeting for audio, ensuring brand safety, and promoting discoverability.”

“We’re excited to have iHeartMedia as a commercial partner and strategic investor. We are eager to help iHeartMedia, the world's leading audio publisher, realize the true value of audio,” Sounder CEO and Co-founder Kal Amin said. “With Sounder’s Audio Data Cloud, we’re integrating a layer of data that is absolutely crucial for advertisers to take advantage of the world’s high level of engagement with podcasts. While podcast advertising is growing fast, it’s still a nascent business when compared to traditional radio advertising. Audio Data Cloud will accelerate podcast advertising growth, bringing new advertisers, higher ad spends, and more effective campaigns to the medium. This is a gamechanger on all fronts.”

The iHeartPodcast Network is home to more than 750 iHeartRadio Original Podcasts which span every category from business, sports, spirituality and technology to entertainment, family, comedy and true crime including leading podcasts such as “The Ron Burgundy Podcast,” “Paper Ghosts,” “Fake Doctors, Real Friends,” “Atlanta Monster,” “You and Me Both with Hillary Clinton,” “The Laverne Cox Show,” “Las Culturistas” and “Noble Blood,” as well as over a hundred shows from iHeart’s on-air talent – like the popular “Bobbycast” from its nationally-syndicated host Bobby Bones and “The Breakfast Club” radio show podcast. With this roster of hits, iHeart has more top 10 shows on Podtrac than the next three podcast networks combined, and twice as many podcasts with 1 million monthly downloads than the next largest podcast publisher. 

About Sounder

Sounder is the end-to-end podcast management platform that brings Audio Intelligence to creators and enterprises. Founded in 2019 by former Google and Spotify executives, Sounder connects creators and enterprises to the Audio Intelligence solutions they need to accelerate their content’s discovery, engagement, and monetization potential. Through the Audio Data Cloud, Sounder gives enterprises access to insights that inform strategy and improve monetization. Learn more and join Sounder’s community of creators at sounder.fm.

New Structure Will Enhance Company’s Leadership Position as the Number One Audio Company in America and Continue Its Successful Transformation as a Technology-Powered 21st Century Media Company

New York, NY – January 14, 2020 – As it enters the new decade, iHeartMedia today announced a new organizational structure for its Markets Group as it modernizes the company to take advantage of the significant investments it has made in technology and artificial intelligence (AI) and its unique scale and leadership position in the audio marketplace.  The new structure will enable the company to maximize the performance of each of its markets – and the company overall -- with its unique scale and multiple platforms; leadership in audio; and its expertise in consumers, monetization and data, and enhance iHeartMedia’s position as the number one audio company in America, continue its successful transformation as a technology- and data-powered 21st century media company, and accelerate the development of new platforms and services.

The company has made significant technology investments to change everything from how it sells advertising to how it utilizes data and builds new businesses like its digital platform, podcast platform and robust data platform – all of which have given it an undisputed leadership position in the audio world.  Additionally, the company’s technological advancements increase its ability to support its employees and its customers through world class systems and innovation.

iHeartMedia is the #1 audio company in America by reach, and is:

• #1 in broadcast radio;
• #1 in digital radio;
• #1 in commercial podcasting;
• #1 in social among audio players;
• #1 in radio networks;
• #1 in video among audio players, including on YouTube and Snap;
• #1 in targeting, analytics and attribution in the audio sector with its SmartAudio suite of services;
• And iHeart has built the leading brand in radio – iHeartRadio – that functions as its master brand for all of its consumer assets. 

“iHeart is the rare example of a major traditional media company that has made the successful transformation into a 21st century media company – one with unparalleled scale, reaching 91% of Americans each month with our broadcast assets alone, more than any other media company,” said Bob Pittman, Chairman and CEO of iHeartMedia.  “We are now using our considerable investments in technology to modernize our operations and infrastructure, further setting us apart from traditional media companies; improving our services to our consumers and advertising partners; and enhancing the work environment for our employees.”

 iHeartMedia Markets Group

The company will now group its markets by common needs and characteristics into three distinctly different divisions to make sharing of resources and experiences easier and more targeted.

Here is the new structure of the iHeartMedia Markets Group, which will continue to be led by Greg Ashlock, President of the iHeartMedia Markets Group:

• The Region Division:  The Region Division comprises the company’s largest markets, like New York and Los Angeles, that each reach hundreds of cities, communities and trading areas for local businesses.  The Region Division will be led by Division Presidents Kevin LeGrett and Scott Hopeck.
• The Metro Division:  The Metro Division houses markets that are large areas that still encompass multiple communities – but are not regional hubs like the company’s largest markets.  The Metro Division will be led by Division Presidents Tom McConnell, Tony Coles and Linda Byrd.
• The Community Division:  The Community Division includes markets that focus on the shared needs of one community and one trading area for most businesses and advertisers and will also group markets into areas which are geographically close and culturally similar.  The Community Division will be led by Division Presidents Shosh Abromovich, Nick Gnau and Dan Lankford. 
• Additionally, the company is creating a new Division that cuts across all Markets -- the very successful Multi-Market Partnerships (MMP) Division headed by Julie Donohue, who is elevated to President of MMP with responsibility for this business.

As part of this important step in the transformation of the company, the company’s Integrated Revenue Strategies group, led by President Hartley Adkins, will be merged into the iHeartMedia Markets Group and Adkins will become Chief Operating Officer (COO) of the Markets Group working closely with Greg Ashlock. 

Centers of Excellence

The company will also be using its new technology- and AI-enabled Centers of Excellence – which consolidate functional areas of expertise in specific locations to deliver the highest quality products and services – for every Market, enabling each to take advantage of the company’s scale and shared resources across programming, marketing, digital, podcasts, sales and sales support to provide a better experience for listeners and business partners and a more efficient process for all of its employees.  These Centers of Excellence are the result of the great strides the company has made in improving its technology backbone and the hundreds of millions of dollars in investment it has made in building out the company’s core infrastructure, in addition to strategic technology and platform acquisitions like Jelli, RadioJar and Stuff Media.

Forward-Looking Statements

Certain statements herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The words or phrases “guidance,” “believe,” “expect,” “anticipate,” “estimates,” “forecast” and similar words or expressions are intended to identify such forward-looking statements. In addition, any statements that refer to expectations or other characterizations of future events or circumstances, such as statements about our goals, and changes to our organizational structure and the expected impacts of such changes, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date hereof. Various risks that could cause future results to differ from those expressed by any forward-looking statement are described in the Company’s reports filed with the U.S. Securities and Exchange Commission, including in the section entitled “Item 1A. Risk Factors” of iHeartMedia, Inc.’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

Study Finds Radio Continues to Reach More People on a Daily and Weekly Basis Than Any Other Media and Dominates Consumer Listening Across All Dayparts

Podcast Listening Experiences Fast Growth, Especially Among Gen Z and Younger Millennials, as More People Use Podcasts as a Daily Escape

Rise of Smart Speakers Adds To Radio Listening in the Home with Continued Listening Late into the Night

New York, NY – June 20, 2019 – The audio landscape is exploding and over the last two years there has been huge growth across various audio categories including a 2500 percent growth in smart speaker ownership and more than 48 percent increase in podcast listening, according to the Edison Infinite Dial 2019 study.  And today Ipsos released a new research study commissioned by iHeartMedia  -- “Day in the life Audio Journey” -- demonstrating that consumer interest in audio is now at an all-time high, with listeners enjoying more audio content across a vast array of platforms including broadcast radio, digital streaming, podcasts and smart speakers. The in-depth multi-platform study explores daily audio usage and habits of Americans ranging from 13 to 64 years old and captures when, where and how these various generations are consuming their favorite audio.

The study highlights that radio continues to reach more people than any other media both daily and weekly. On a weekly basis, broadcast radio reaches 85 percent of consumers, surpassing all other audio channels including social media (68 percent) and live television (56 percent). The research also showed that radio has two times the daily listening of streaming services, reaching 69 percent of consumers compared to streaming music’s 34 percent.

“Audio is hot right now and a must for marketers looking to reach increasingly elusive and fractured audiences. If you look at the data, it’s undeniable that consumers are listening more and watching less and this study outlines when, where and why,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “Contrary to some misperceptions, it shows we are living in an audio-first world by drilling down a more granular overview of audio listenership and showing what a day-in-the-life of the average listener is like when it comes to media consumption.”

 Although all ages enjoy listening to audio and spend an average of 17.2 hours a week with their favorite broadcast radio stations, streaming music service, podcasts and more, the study found that Millennials and Gen Z listen the most, spending more than 18 hours each week and 2.6 hours or more each day listening to audio. These numbers, along with social media’s continued popularity, reflect consumers’ need for live, human connections.

 “Radio has long been a trusted companion for people of all ages so it’s no surprise that it continues to be the premier destination when people want to connect with others and their community,” said Gayle Troberman, CMO of iHeartMedia. “The only difference now versus decades ago is that today people can enjoy that connection anywhere they are across a variety of platforms.”

The study also explores where and when people listen and shows that audio listening is most often done on-the-go, with 65 percent done outside the home and most often in the car, with radio accounting for 65 percent of in-vehicle audio listening. Radio also serves as a companion throughout the day; it leads media use 70 percent of waking hours and is the most used audio platform all day, and at all hours. The research additionally shows that the rise of smart speakers has made radio more prominent than ever in the home, uncovering that homes with smart speakers have spent 47 percent more time listening to radio during prime hours (8-10pm) than those listeners without.

Consumers are also embracing podcasts, with listening growing tremendously especially among younger Millennials and Gen Z. Compared to just two years ago, podcast listening is up 48 percent with people aged 12–24, according to a separate Edison Infinite Dial 2019 study. iHeartMedia’s study further found that podcasts now represent almost 10 percent of audio listening among Millennials and that podcast listeners are also radio listeners, with 82 percent also listening to radio on a weekly basis. In addition, radio continues to be the #1 audio choice for Gen Z. and podcasts are replacing online video as a daytime escape for many during work and school.

The study, conducted by Ipsos for iHeartMedia in March 2019, surveyed a nationally representative sample of 6,016 consumers aged 13–64 who listen to 1+ audio platform at least once a week.

Partnership will drive innovation and learning in creative 
and media strategies across all audio platforms

CANNES, FRANCE – June 17, 2019 – iHeartMedia, America’s leading audio company, and WPP, the creative transformation company, today announced the launch of Project Listen to develop next-generation insights, planning and creative capabilities in audio.

The two companies will help brands better engage with consumers and win across all audio platforms: broadcast radio, digital streaming, podcasts, smart speakers and live events.

Consumer listening is at an all-time high, according to new iHeartMediaresearch. The study shows consumers say they arelisteningto audio content for an average of 17 hours a week, with millennials and younger generations listening the most. This ramp up in listening is the direct result of the rapid growth of digital streaming, podcasts, smart speakers and airpods, on top of the massive and consistent scale of broadcast radio.

The new partnership comprises:

1. Creative Audio Studio – Audio will be pushed higher on the agendas of creatives and media strategists with the launch of a new studio at GroupM’s headquarters at 3 World Trade Center in New York. Clients and creatives from across WPP will experiment with modern audio marketing programs, working with creative producers in a series of pilots.
2. Empowering Planning – iHeartMedia’s Smart Audio Insights and audience tools will be integrated with GroupM’s proprietary data and insights tools to uncover new insights and support novel measurement approaches, all of which will be shared in quarterly intelligence reports for clients and the market. A new audio certification program for planners at GroupM’s agencies will roll out later in 2019.
3. Raising Audio IQ – A new Project Listenmonthly podcast is launching in Cannes with plans for 18 episodes through 2020. Lessons from the client pilots and research will be shared to help inspire more advertisers to embrace audio’s new capabilities.

Project Listen is intended to raise the bar in audio creativity and media strategy through shared learning about what works in the evolving audio landscape. The partners will help marketers to mine audio data for insights and to deploy them across a cohesive planning framework, from creative strategy to media planning and implementation. 

“At iHeartMedia, we understand the unparalleled power of audio and its ability to engage and make brands part of the daily conversation, with consumers of all ages, at a massive scale,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “Project Listen is about tapping into the scale of audio and moving from the traditionally transactional radio business to the future of audio advertising where insights and ideas lead the way to growth for brands. Simply put, audio is the biggest greenfield for growth in media today, and we could not be more excited to partner with the talented teams across WPP to develop the tools and skillsets needed to unlock that growth.” 

“Consumers are listening more than ever, and we already know the power of music, voice and sound to create engaging and emotional human connections,” said Mark Read, CEO of WPP. “As consumer behaviour evolves, from the media they enjoy to how they relate to brands and make purchase decisions, it’s essential to have a modern approach to creative and strategy for all media, including audio.”

“People are wired for sound – it grabs our attention, sets our mood, and triggers our memories and imagination. It transports us from a favorite artist’s soundstage, to a podcast courtroom or even another galaxy. It’s quite literally a soundtrack for our lives,” said Brad Hiranaga, NA Chief Brand Officer, General Mills. “Because audio is an incredible driver of culture and yet is so personal, it’s a profound way to tell a brand story that connects with people authentically in the right moments of their day. That connection is a great match to our mission for our brands to create experiences for people and provide value in their lives.”

“Marketers spend a lot of time perfecting the way their brand looks, but today there is an equal need to focus on how they sound,” said Leslie Sims, Chief Creative Officer for Ogilvy USA. “With the growth in listening, sonic branding is becoming an even more vital part of the creative process. Project Listenwill challenge us to experiment even more as we work with clients to explore new sonic solutions.”

 “At GroupM, our single-minded focus is on helping clients to best utilize the media that can help deliver growth for their businesses,” said Tim Castree, CEO, GroupM North America. “Like every other medium, audio is quickly evolving. This requires work with our clients and our partners to test and learn how to leverage the scale and reach of audio, and the creative and innovation potential of new platforms, which is what we’ll do with Project Listen.” 

Project Listenwas announced today at the 2019 Cannes Lions International Festival of Creativity during a special live podcast at the WPP Beach. The podcast featured Brad Hiranaga, Chief Brand Officer, General Mills; Bob Pittman; Tim Castree; Leslie Simms, Chief Creative Officer of Ogilvy US; Ryan Seacrest, host of On Air with Ryan Seacrest, Live With Kelly and Ryanand American Idol; and host Will Pearson from the hit podcast, Part Time Genius.

About WPP

WPP is a creative transformation company. We build better futures for our clients through an integrated offer of communications, experience, commerce and technology. For more information visit www.wpp.com.