Bob Pittman doesn’t believe streaming will kill radio. But he’s built a massive streaming…

[Bob Pittman,Clear Channel Communications, Inc.] doesn’t believe streaming hours will overtake traditional radio in his lifetime. “Music collections always replace each other and radio always tends to be yet another choice,” he says. “Satellite didn’t kill FM. AM didn’t kill FM. (Streaming music) one more choice and one more device you can listen to the radio on.” With that perspective, why […] waste resources getting 50 million people to use a streaming service like iHeartRadio to begin with? The product draws resources from a number of Clear Channel’s businesses, including live shows, tech, operations and advertising. […] The short answer, Pittman says, is growth. He maintains that digital is an important growth area for the business, even if the $17 billion or so that advertisers spend on radio each year is slow to move over to the Web. – Erin Griffith, Fortune Magazine http://ift.tt/1oBfaeg

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