In WSJ Profile, Bob Pittman Pushing To Reinvent Radio
October 15, 2012
Clear Channel CEO Bob Pittman was profiled in Sunday's Wall Street Journal, discussing his excitement at running the radio giant and pushing the industry forward into the digital age. Pittman told the paper, "I've not had my adrenaline pumped up like this in years and I forgot how great it feels. As much as I've denied it by trying to stop working, I'm absolutely hard-wired to run companies."
The WSJ recaps Pittman's career and the state of the radio industry, as well as Clear Channel's debt issues. The paper describes Pittman as seeing a challenge of "shaking off radio's fusty image and winning back advertisers who left for other media." Pittman argues that listeners have never left radio and has been recently touring the U.S. touting radio and meeting with advertisers. He recently co-hosted a cocktail party for advertisers, along with consulting firm Medialink, featuring a performance by Stevie Nicks. Discussing the iHeartRadio Festival in Las Vegas, Pittman says the two-day event showcased "the power we have," adding that he said, "Why act like a start-up?' We need something that blows everyone's mind."
With Clear Channel's debt troubles looming, ex-CBS Radio CEO Joel Hollander told the paper, "Some of this is out of his control: What happens in the next 12-24 months with the economy will play a big part," but added that Pittman is "thinking out of the box and he has to be credited with that."
"The worst thing to do is nothing," Pittman told the WSJ. "You have to take chances."