Bob Pittman: Radio's Reach Deserves More Ad Dollars
September 25, 2013
Speaking at a Goldman Sachs conference in New York, Clear Channel CEO Bob Pittman said this week that radio is "way under-represented" when it comes to advertising dollars, and that TV should not bring in three times radio's ad rates. According to The Hollywood Reporter, Pittman said that while "TV is wonderful, is very effective, [it] doesn't deserve quite as much money as it has."
Pittman added that TV brings in three times radio's ad rates, despite "all the studies show the impact is about the same." He continued, "There is a huge opportunity in radio ... We need to monetize it better, sell it better."
According to THR, Pittman also took the opportunity to promote the power of radio's reach, saying, "Radio is America's companion for all demographics. It's my wife versus my hobby."
He also dismissed talk of competition from Pandora, saying, "all of their stations together don't even make the top 10 in New York."