The Pittman Effect

Plus an exclusive interview and a special announcement

Like many of you, I've known Bob Pittman from when we were newbies in radio at a very young age. We've been friends, have stayed in touch over the decades, and have spent time at one another's homes. I can remember sitting in his office at WNBC in New York when he told me he was going to leave to start MTV. Of course, I told him no one would ever want to watch people sing songs on television. So much for my vision.

Radio is about to enter a new era. I'll call it the "Pittman Era," and, if you pay close attention and follow his lead, we may see radio soar.

How is it that one man can make that much difference? Bob Pittman is to radio what Warren Buffett is to Geico and the other companies he invested in. Bob is a nationally respected superstar CEO, and when he jumps into radio at a time when others are not, he's signaling that there is big opportunity for this industry. Already, on his first CNBC interview after his new post at Clear Channel Communications was announced, he's signaling a new era.

Though Pittman is on board as the new chairman of media and entertainment platforms for Clear Channel and though Clear Channel will be the biggest beneficiary, make no mistake: Bob understands that the best way to lift his own company is to lift the tide beneath all ships. As a result of Pittman's coming into radio, you'll very rapidly see new private equity money and new advertisers coming into this business. Mark my words.

When I received a call from Clear Channel this morning and they said Bob Pittman had requested that his one interview with a radio trade publications be with me, I was excited. I know Bob well enough to know that he never enters anything unless he knows he can win, and win big -- his own Pilot Group is a radio investor. He'll transform Clear Channel, and lead the transformation of radio.

The Pittman factor is very real. He's investing his own money in Clear Channel, and that sends a signal that there is great opportunity in radio. I also know Bob is a big believer in the core values that build great radio stations: talent, entertainment, local community involvement, and great people. This is great news for our industry.

Eric Rhoads
Radio Ink

PS: Bob spoke exclusively with Radio Ink Monday afternoon; see my interview with Bob here.

Pittman To Keynote Forecast
Clear Channel's new Chairman/Global Media & Entertainment Platforms, Bob Pittman, will present a keynote address at Radio Ink's Forecast conference, where the industry gathers to learn about what's ahead for the coming year. If you've never heard Pittman speak, you'll want to attend this event to hear his vision for radio and what radio can do to leverage its brands into the digital era.

Forecast is set for December 7 in New York, and less than half of the seats remain, as we limit attendance to 200. Join radio owners, CEOs, executives, investors, operators, and advertisers for Pittman's historic speaking debut as a Clear Channel executive. Call 561-655-8778 to register, or register online at www.radioink.com/forecastsummit.

Comments

[Steve Casey]

Don't feel bad, Eric. Everybody told us it wouldn't work. I was lectured that "Music and television are an unnatural marriage" during my orientation meeting my 2nd day at MTV (a meeting that Bob was not in). At the time, WASEC was all about movies. I don't think they knew what to think about us radio guys.

I've been fortunate to work for some of the most amazing people over the past 41 years. But my observation about Bob, working for him not once, but twice, is that he has the best ability I've ever seen to assemble a team, point them in the right direction, and let them create great things.

I know that this is supposedly common in the world of sports. But I haven't seen it much in business. Nobody could be better for Clear Channel than Bob. I'm expecting great things for them, and by extension for our industry.

[Uncle Ricky]

It's public record, but I should enter a comment regarding Bob Pittman's support of REELRADIO, Inc., going back to August, 2001.

Mr. Pittman, an industry giant, got caught up in the magic of an old aircheck remembered. I remember he wrote that he played it for his son, who had never heard his Dad on the radio.

He sent REELRADIO a significant and much-appreciated 501(c)(3) gift that keeps on giving.. REELRADIO is still online, the largest online radio archive in the world.

We will celebrate 15 years online February 12, 2011.

[Eric Rhoads]

We did the interview. You can read it on radioink.com

[Jeff Petersen]

Congratulations on your upcoming interview with Mr. Pittman.
I hope you will ask him as the new leader of Clear Channel if he will change the policies of Clear Channel, its stations and its affiliate group Premiere to allow liberal and progressive views on their programming with actual hosts who have philosophies other than the corporate far right rants now featured and whether an ethics policy will be applied to hosts at the national and local level requiring them to allow viewpoints other than their own on their shows without host interruptions, interference with audio or other tricks to harass and confuse the caller who has a dissenting viewpoint.
Also, whether he will allow a policy requiring hosts to disclose money and other gratuities they receive from political and financial interests they discuss on their shows and campaign contributions they make to politicians.