Harker: iHeartMedia Name Change Is 'Risky Business'
September 23, 2014 at 12:00 PM (PT)
CLEAR CHANNEL's decision to re-brand itself as iHEARTMEDIA was the topic for discussion at HARKER RESEARCH's Radio Insights blog. In the new post, RICHARD HARKER and GLENDA SHRADER BOS argue that the move is anything but a slam-dunk in terms of improving the company's fortunes.
"CLEAR CHANNEL stations may all use iHEARTRADIO, but after two years and tens of thousands of promos CLEAR CHANNEL still isn't a single brand that PITTMAN can rebrand," they wrote. "It is a company with over 840 brands.
"When you think of FRUIT OF THE LOOM, do you think of BERKSHIRE HATHAWAY? What about GEICO, BURLINGTON NORTHERN or SEE’S CANDY? These companies and 50 more are owned by WARREN BUFFET’s company, but only four have BERKSHIRE HATHAWAY in their name. WARREN BUFFET understands the value of an established brand name and wants his companies to continue strengthening their brand names even after he buys them.
"Radio stations from Z100 WHTZ in NEW YORK to LOVE100 WLVH in SAVANNAH are the brands of CLEAR CHANNEL," they assert. "The 245 million listeners who tune into CLEAR CHANNEL stations do not do so because the station is a CLEAR CHANNEL station. They couldn’t care less. And rebranding the company will not change the relationship."
Read the entire blog here.