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Summary:

Veteran media exec and investor, Bob Pittman, was in New York for advertising week where he said the key to the bigger picture is to focus on what the consumer wants and then to scale it.

Bob Pittman
photo: Clear Channel

The key to media investing is driving towards what consumers are crazy about, according to MTV founder and Clear Channel CEO, Bob Pittman.

“If consumers love something, we’ll figure out a way to scale and monetize it. If not, it’s a house of cards,” said Pittman, who has invested in successful companies like Thrillist and Zynga.

Pittman says he’s fine with the chaos that seems to be always enveloping media, preferring to regard it as a “byproduct of doing something a different way.” He also offered historic perspective on social media mania, noting that people have always consumed multiple media at once — for instance, by talking on the phone or looking at a magazine while watching MTV.

As for the failure of TV ad dollars to follow consumers online, Pittman said the “media mix is wrong” but that TV isn’t going anywhere soon.

Pittman also used the Ad Week chat, hosted by Medialink CEO Michael Kassan, to plug Clear Channel’s online radio service, iHeartRadio, which he says has reached 50 percent brand awareness.

  1. Media today, has become dependent on consumer and the reason behind it is to gain high TRP ratings. Channels like MTV, Channel V, etc are more into attracting the young generation and the programs are now designed in a way that are liked by the consumers. It is in a way also good because the channels comes up with some really nice programs after understanding the demands of the consumers.

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  2. The online media landscape has figured out what consumers do not like…and scaled that! Banners…pre-roll… – Jaffer

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  3. …successful companies like…Zynga.

    Is this a typo?

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