The two sealed the deal last Wednesday, which enables Yahoo to use Clear Channel’s iHeartRadio platform as its official digital radio service.
The deal includes Yahoo carrying a number of live events of Clear Channel, which they produce yearly. The iHeartRadio Music Festival is included in the deal.
There are 45 million listeners to iHeartRadio’s broadcast monthly. And their mobile app have already gotten 80 million downloads.
Clear Channel is the US biggest terrestrial radio that reaches about 237 million users in 150 markets.
Clear Channel CEO Bob Pittman said, “We were thrilled when Ross approached us about this partnership. We like the direction Yahoo! is going and by working together we can accelerate growth for the both of us.”
Yahoo has struck deals with ABC and CNBC to distribute content across networks.
Yahoo interim CEO Ross Levinsohn said, “This partnership will expand our ability to provide consumers and advertisers with the best premium content available and provide Clear Channel with unmatched digital reach.”
Terms of the deal were not disclosed to the media.
What do you think? Was it worthy for Yahoo to invest in iHeartRadio?
Image Source: iamhash.blogspot.com