Bob Pittman Tells CNBC The Economy Is Improving
January 7, 2015 at 4:11 AM (PT)
iHEARTMEDIA Chairman BOB PITTMAN appeared on CNBC's "Street Signs" yesterday, striking a confident tone on the economy.
"I sense a turnaround and sense in talking to the advertisers that they are, this is -- hopefully, knock on wood -- the year in which they say, 'OK, let's stop the slowdown, let's get back to really playing on the offense,'" PITTMAN said from the CONSUMER ELECTRONICS SHOW in LAS VEGAS.
Commenting on many new offerings, PITTMAN said, "all these devices are really new radios. We have the clock radio. We have the car radio. Now we have your handheld radio. So although they are digital products, to the consumer they are just one more way to get their favorite radio stations."
CNBC reports, "PITTMAN also addressed TAYLOR SWIFT's decision to pull her album catalog from streaming music service SPOTIFY, noting that there is really no impact on radio."
"Radio breaks music and always has," PITTMAN said. "When you look at SPOTIFY, what that really is is a replacement for the CD, for iTUNES downloads, and I think people like TAYLOR SWIFT were saying, 'I'm not sure I'm getting paid enough to warrant it being there'."