By: Tabby Miller
Richard Lewis, the Philadelphia Region President for iHeartMedia, spoke to TU-AMA about the success of the mass media company that broadcasts across over 900 radio stations in America and hosts well-known events such as the iHeartRadio Music Awards, and the iHearRadio Music Festival, and the Jingle Ball. Radio has surpassed television as the top reaching form of media in the United States, due to delayed broadcast services such as Netflix and Hulu; and despite other audio services such as Pandora, Spodify, and Apple Music, iHeartMedia continues to reach over 270 million Americans every month.
To what do they owe their success? Lewis claims it’s because iHeartMedia “tries to connect with people.” Any company depends on understanding their consumers, and in an industry like radio, customers play a large part in controlling change in the industry. Listeners decided that they prefer experiences to big money prizes, so iHeartMedia offers front row concert tickets, exclusive meet-and-greets with stars, and vacation get-aways instead of cash prizes for radio contests. Listeners decided that instead of buying music, they want to rent it, so iHeartMedia offers them a platform for music rental. iHeartMedia understands how to adapt to consumer attitude, and that’s what makes them so successful in the media industry.