WEBVTT - Will Pearson - President of the iHeart Podcast Network 0:00:03.360 --> 0:00:06.199 Ruby. 0:00:07.000 --> 0:00:09.680 We know that we have the toolkit to help a 0:00:09.760 --> 0:00:13.480 podcast network or an individual podcast succeed through marketing and 0:00:13.520 --> 0:00:16.119 the megaphone that we have here at iHeart, But we 0:00:16.200 --> 0:00:18.560 also know we want to invest in and believe in 0:00:18.680 --> 0:00:21.720 creators to see through their vision. We've tried to do 0:00:21.800 --> 0:00:24.800 that with so many others, whether that's with Bloomberg and business, 0:00:24.840 --> 0:00:28.480 Will Ferrell and comedy, Shonda Rhimes in the creative space, 0:00:28.600 --> 0:00:30.400 the NFL, or NBA, and sports. 0:00:30.880 --> 0:00:32.320 Our job is to help these. 0:00:32.159 --> 0:00:35.879 Great organizations and creators bring these ideas to life. So 0:00:35.920 --> 0:00:37.640 it's been fun to be able to organize that way. 0:00:37.680 --> 0:00:40.400 We don't always get it right, but in its best execution, 0:00:40.560 --> 0:00:42.160 that's the way we try to organize. 0:00:43.360 --> 0:00:45.720 We just heard from Will Pearson, the president of the 0:00:45.720 --> 0:00:49.400 iHeart podcast network, where he's responsible for the growth strategy 0:00:49.400 --> 0:00:53.240 of Iheart's original podcast content, which can't be an easy job, 0:00:53.479 --> 0:00:56.720 especially as we're entering a more crowded marketplace for podcasting. 0:00:57.280 --> 0:00:59.279 Well hear how Will and his team managed to make 0:00:59.320 --> 0:01:02.320 iHeart stand down to consumers and how the company has 0:01:02.360 --> 0:01:07.520 become revolutionary with their podcast advertising strategy and Iheart's commitment 0:01:07.560 --> 0:01:10.840 to giving creatives the space and resources they need to 0:01:10.880 --> 0:01:15.880 share important stories. This is leading by example, executives making 0:01:15.920 --> 0:01:18.959 an impact. I'm furnished to Robbie and I'm excited. 0:01:18.600 --> 0:01:20.199 To take this journey with you as your host. 0:01:20.720 --> 0:01:22.680 I know what you might be thinking, but this is 0:01:22.760 --> 0:01:26.880 not just another interview podcast about founders and CEOs. We're 0:01:26.920 --> 0:01:29.800 going past the pr and into the personal stuff and 0:01:29.840 --> 0:01:34.319 how their lived experiences shape leadership. The workplace, as you know, 0:01:34.440 --> 0:01:37.440 is going through a massive transformation. Everything from how we 0:01:37.520 --> 0:01:40.240 define work life balance to what we expect from our 0:01:40.319 --> 0:01:42.720 leaders and companies is evolving in front of us in 0:01:42.800 --> 0:01:45.399 real time. And my goal with this podcast is to 0:01:45.400 --> 0:01:49.320 bring you real guidance, actionable insights, and the truth about 0:01:49.320 --> 0:01:51.760 the roles we can all play in shaping the future 0:01:51.760 --> 0:01:54.240 of work. I tell you this is a front row 0:01:54.280 --> 0:01:58.800 seat behind the scenes to innovation and strong leadership across industries, 0:01:59.320 --> 0:02:01.600 and that is certainly in the case with our first guest, 0:02:01.880 --> 0:02:05.080 Will Pearson. Will's career began in his dorm room at 0:02:05.120 --> 0:02:08.160 Duke University, where he co founded the digital media publication 0:02:08.440 --> 0:02:11.920 Mental Flaws. It started as a campus magazine and as 0:02:11.960 --> 0:02:14.720 journey led him to How Stuff Works, hosting the Part 0:02:14.760 --> 0:02:18.440 Time Genius podcast and launching some of today's most innovative 0:02:18.480 --> 0:02:22.520 podcast slates. Will Pearson, Welcome to the show. 0:02:22.639 --> 0:02:24.080 Thanks for noush. It's good to be with you. 0:02:24.240 --> 0:02:28.280 I'm looking forward to hearing so much about your career, 0:02:28.400 --> 0:02:31.640 come up ins, your influence in the media world. But first, 0:02:32.160 --> 0:02:34.000 I just want to know what you were like as 0:02:34.040 --> 0:02:37.040 a kid. Were there inklings of the empire you were 0:02:37.080 --> 0:02:38.600 going to build as a young one? 0:02:39.000 --> 0:02:39.520 Is there a. 0:02:39.480 --> 0:02:43.640 Story that captures even if it's just like the curiosity 0:02:43.639 --> 0:02:44.960 that you had. Because I find you to be a 0:02:45.080 --> 0:02:49.440 very curious person, I don't think it's inconsequential who we become. 0:02:50.400 --> 0:02:53.000 So I would say the early part of my career 0:02:53.320 --> 0:02:56.840 probably could have been predicted because I was a list 0:02:56.919 --> 0:02:59.959 maker an organizer, and I don't know why. I love 0:03:00.320 --> 0:03:03.520 learning things and then I loved being able to compile 0:03:03.639 --> 0:03:06.160 those in my own organized way. So it was this 0:03:06.240 --> 0:03:11.240 combination of I suppose, curiosity and OCD that led me 0:03:11.280 --> 0:03:12.400 to create these files. 0:03:12.440 --> 0:03:13.920 And I'm not even kidding when I say this. 0:03:14.080 --> 0:03:17.280 I had files in a desk at my house when 0:03:17.280 --> 0:03:19.800 I was like ten years old, where it'd be like 0:03:19.880 --> 0:03:22.800 the interesting history facts that I've learned, the interesting science 0:03:22.840 --> 0:03:25.360 facts that I've learned whatever it may have been, but 0:03:25.440 --> 0:03:28.360 I just loved consuming this knowledge. I didn't exactly know why. 0:03:28.440 --> 0:03:29.680 I didn't know what I was going to do with 0:03:29.760 --> 0:03:32.760 it. It eventually paid off in some way with the first 0:03:32.800 --> 0:03:35.200 business we started out of college. But I guess that 0:03:35.240 --> 0:03:37.480 would have been an early hint that this might have 0:03:37.520 --> 0:03:38.360 been a path for me. 0:03:38.760 --> 0:03:42.320 You kind of were into executive functioning before it was 0:03:42.600 --> 0:03:43.480 age appropriate. 0:03:43.800 --> 0:03:45.600 H Yeah, So fast. 0:03:45.400 --> 0:03:46.160 Forward to Duke. 0:03:46.440 --> 0:03:49.120 Now you're at Duke University and you get an idea 0:03:49.680 --> 0:03:52.160 to start I guess a magazine. 0:03:52.680 --> 0:03:54.000 Yeah, that's exactly right. 0:03:54.560 --> 0:03:57.280 Was it always the intention was to start this magazine 0:03:57.280 --> 0:04:00.720 that would have a life beyond college? 0:04:00.880 --> 0:04:04.080 It was we didn't necessarily communicate that. So there was 0:04:04.160 --> 0:04:06.360 a young man by the name of mungesh A Ticketer. 0:04:06.840 --> 0:04:09.560 The two of us were classmates together. We'd known each 0:04:09.560 --> 0:04:13.080 other since our first year at Duke, and in the evenings, 0:04:13.200 --> 0:04:15.600 groups of friends would sort of crowd into one room 0:04:15.720 --> 0:04:18.039 and just kind of hang out and start talking about 0:04:18.040 --> 0:04:20.479 things that we may have heard in a class. Again, 0:04:20.560 --> 0:04:22.400 maybe one more hint that we were just a little 0:04:22.440 --> 0:04:25.080 bit on the nerdy side. But we would get together 0:04:25.120 --> 0:04:26.919 in our dorm rooms and just talk about things that 0:04:26.960 --> 0:04:30.120 were of venturous to us, and this idea came up 0:04:30.160 --> 0:04:33.320 that one person in the room might be an astronomy major, 0:04:33.360 --> 0:04:35.800 another person in the room is an econ major, and 0:04:35.839 --> 0:04:38.400 another person in the room is a literature major. And 0:04:38.920 --> 0:04:41.120 the idea that we could each learn a little bit 0:04:41.240 --> 0:04:44.800 from each other is really what inspired the idea for 0:04:44.920 --> 0:04:48.680 the magazine Mental Flaws. The whole concept was, how wouldn't 0:04:48.680 --> 0:04:50.279 it be great to be able to learn a little 0:04:50.320 --> 0:04:53.120 bit from every single one of these departments here on campus. 0:04:53.160 --> 0:04:58.360 You're at a liberal arts institution celebrating general knowledge. Let's 0:04:58.400 --> 0:05:01.200 come up with a way that people can learn a 0:05:01.200 --> 0:05:04.320 little bit of everything, but also blend it with entertainment 0:05:04.400 --> 0:05:07.599 and trivia, so that every time you experience an issue 0:05:07.680 --> 0:05:10.640 of the magazine, you'd walk away feeling a little bit smarter, 0:05:11.160 --> 0:05:12.760 but with a smile on your face. And so we 0:05:12.839 --> 0:05:15.720 started it there and distributed a couple of issues on 0:05:15.839 --> 0:05:19.279 campus at Duke, and then decided to take it outside 0:05:19.400 --> 0:05:21.720 of Duke as well. Of course, we had no idea, 0:05:21.760 --> 0:05:24.840 We had no background in the publishing industry in any 0:05:24.839 --> 0:05:27.840 sort of meaningful way, and I honestly think that's part 0:05:27.839 --> 0:05:28.520 of why it worked. 0:05:28.560 --> 0:05:30.480 You know, we were too naive and too. 0:05:30.279 --> 0:05:33.479 Young to know the rules of the publishing industry and 0:05:33.520 --> 0:05:36.280 how hard it was to start a magazine's supposed to 0:05:36.320 --> 0:05:39.400 think about it. We launched in two thousand and one, 0:05:39.440 --> 0:05:42.239 not exactly the best time to be launching any business, 0:05:42.320 --> 0:05:45.039 much less a magazine, but it was something we felt 0:05:45.080 --> 0:05:46.240 very strongly about. 0:05:46.560 --> 0:05:47.480 So pretty quickly. 0:05:47.520 --> 0:05:50.560 It sounds that when you started Mental Floss at Duke 0:05:50.640 --> 0:05:53.200 it got a great reception. It seemed like there's a 0:05:53.240 --> 0:05:56.920 business here. At what point did you realize I want 0:05:56.920 --> 0:05:59.920 to do this professionally beyond college? Were there are other 0:06:00.400 --> 0:06:03.680 pathways you considered, other career routes you considered? 0:06:04.520 --> 0:06:08.039 There were none that were super clear. I didn't know 0:06:08.120 --> 0:06:10.640 exactly what I wanted to do. I was a history major, 0:06:10.760 --> 0:06:13.200 so I think my only options were to go into 0:06:13.200 --> 0:06:16.159 academia or start my own thing. Right but now, and 0:06:16.200 --> 0:06:18.520 I don't really feel that way. I'm a big proponent 0:06:18.560 --> 0:06:21.719 of a liberal arts education. But I guess it was 0:06:21.839 --> 0:06:25.039 in my third year, my junior year at Duke, when 0:06:25.080 --> 0:06:28.680 we started this and really knew the path was, let's 0:06:28.760 --> 0:06:31.640 try to take this beyond the campus and make this 0:06:31.720 --> 0:06:33.560 our full time gigs. Of course, what it meant at 0:06:33.560 --> 0:06:36.440 that point was just getting this off the ground, working 0:06:36.480 --> 0:06:39.240 part time jobs while still in college and just doing 0:06:39.279 --> 0:06:41.200 whatever we could to make some extra money to get 0:06:41.200 --> 0:06:41.800 things started. 0:06:42.560 --> 0:06:45.680 What did those early days teach you about leadership? 0:06:45.720 --> 0:06:47.479 Did you consider yourself. 0:06:47.279 --> 0:06:50.359 A CEO or a leader at that point or you 0:06:50.560 --> 0:06:53.400 just kind of like a builder and an engineer and 0:06:53.480 --> 0:06:54.160 wearing all the. 0:06:54.120 --> 0:06:57.560 Hats a little bit more of the ladder. I was 0:06:58.320 --> 0:07:00.640 running the team, but at the same time was a 0:07:00.760 --> 0:07:03.760 very small team at that point. But I think that 0:07:03.960 --> 0:07:07.279 was such a critical moment for learning at that stage. 0:07:07.320 --> 0:07:10.600 You know, it's funny to think back about the designing 0:07:10.720 --> 0:07:14.320 and the creation of some of those first issues, because 0:07:14.400 --> 0:07:16.560 fast forwarding to this point, anybody that wants to create 0:07:16.600 --> 0:07:19.560 a magazine or design something has all the tools on 0:07:19.640 --> 0:07:22.720 their computer. At that point, though there were no joke 0:07:22.880 --> 0:07:27.080 like five computers on campus that had the right tools 0:07:27.120 --> 0:07:29.400 to design a magazine. There are plenty of computers, but 0:07:29.480 --> 0:07:31.960 the ones that had the actual programs to be able 0:07:31.960 --> 0:07:34.400 to design a magazine. And so there were other campus 0:07:34.440 --> 0:07:37.160 publications and you'd have to sign up for time slots, 0:07:37.600 --> 0:07:39.720 and so we would sign up for these time slots 0:07:39.720 --> 0:07:43.080 in the student center that might be like eleven pm 0:07:43.160 --> 0:07:46.160 to three am, because that's when we could all get together. 0:07:46.720 --> 0:07:49.440 And even though I wasn't the designer of the magazine, 0:07:49.560 --> 0:07:52.720 I think one of the early lessons was learning the 0:07:52.760 --> 0:07:57.360 importance of being present and being present during difficult times 0:07:57.400 --> 0:08:00.200 and being present when the hard work is being done. 0:08:00.600 --> 0:08:03.000 And so we would of course have all of these 0:08:03.120 --> 0:08:05.440 articles that were submitted in all the content that was 0:08:05.480 --> 0:08:08.400 coming together, and then it was time to be able 0:08:08.440 --> 0:08:10.760 to sit down together and decide what was going on 0:08:10.800 --> 0:08:13.880 what page and how the design was looking. And I 0:08:14.000 --> 0:08:16.320 felt that it was important for both of us from 0:08:16.360 --> 0:08:19.400 Ungesh and for myself to be there during that time, 0:08:19.480 --> 0:08:22.360 even if we weren't guiding where every article was going. 0:08:22.800 --> 0:08:24.520 There was something about that, and I think it was 0:08:24.560 --> 0:08:27.200 an early lesson learned and I saw it in other mentors, 0:08:27.200 --> 0:08:29.040 and so I've tried to carry that forward to be 0:08:29.160 --> 0:08:32.880 present when our teams are dealing with difficult challenges, even 0:08:32.880 --> 0:08:34.760 if I'm not always the one that's making the ultimate 0:08:34.800 --> 0:08:35.839 decision on those things. 0:08:36.600 --> 0:08:39.560 Yeah, there's a sense of accountability and I think that 0:08:39.960 --> 0:08:43.520 is really appreciated from everybody else on the team because 0:08:43.720 --> 0:08:45.800 we tend to work in silos and well, it wasn't 0:08:45.840 --> 0:08:48.240 my job, and that wasn't my job, right, That's right. 0:08:48.400 --> 0:08:50.640 You also hit the jackpot in mangesh. 0:08:50.760 --> 0:08:51.040 Yes. 0:08:51.480 --> 0:08:53.280 You know, it's one thing to have a good roommate 0:08:53.360 --> 0:08:55.400 that's hard enough in college, or a friend, but that 0:08:55.480 --> 0:08:58.120 he ended up also being a really great business partner 0:08:58.160 --> 0:09:01.280 and a co pilot. Looking back, maybe only in hindsight, now, 0:09:01.320 --> 0:09:03.640 you know what made that relationship really click. 0:09:04.520 --> 0:09:05.959 Well, first of all, it was a friendship. 0:09:06.080 --> 0:09:09.320 We had a couple of mutual friends early in college 0:09:09.360 --> 0:09:12.400 and that really brought us more closely together. But then 0:09:12.440 --> 0:09:15.480 I think it was the recognition of complimentary skill sets. 0:09:15.520 --> 0:09:18.000 You know, he's one of the most creative people I've 0:09:18.040 --> 0:09:20.600 ever been around, and you really want to find in 0:09:20.640 --> 0:09:25.240 a business partner somebody that compliments your strengths and helps 0:09:25.280 --> 0:09:27.720 make up for your weaknesses, and I think we did 0:09:27.720 --> 0:09:30.559 that for each other. You know, he brought the incredible 0:09:30.600 --> 0:09:33.680 creativity and then just the ability to have. 0:09:33.600 --> 0:09:35.959 A vision for what we were trying to create. 0:09:36.520 --> 0:09:38.839 And I was more on the strategy side and more 0:09:38.880 --> 0:09:40.520 on the pow are we actually going to get out 0:09:40.520 --> 0:09:42.320 on the world and build this? And how are we 0:09:42.400 --> 0:09:45.160 going to communicate about this? One of the best ways 0:09:45.200 --> 0:09:47.560 to illustrate. This was even the name itself when we 0:09:47.559 --> 0:09:49.800 were trying to think of the name of this magazine, 0:09:50.400 --> 0:09:52.280 and I bet it came up with more than one 0:09:52.360 --> 0:09:55.720 hundred terrible names until he just said, why don't we 0:09:55.720 --> 0:09:58.000 call it Mental Flaws. And on the one hand, you 0:09:58.080 --> 0:09:59.920 just want to celebrate that, because that was exactly what 0:10:00.040 --> 0:10:02.640 what it needed to be called, because it sounded smart, 0:10:02.679 --> 0:10:06.560 It sounded like something that celebrated knowledge, but also communicated 0:10:06.600 --> 0:10:09.320 that it didn't take itself too seriously, that it was playful, 0:10:09.760 --> 0:10:12.120 and so there was something about that that was both 0:10:12.160 --> 0:10:15.360 exciting and also just really frustrating to know that on 0:10:15.360 --> 0:10:17.200 one of his first tries he was like, you know what, 0:10:17.280 --> 0:10:19.520 this is what we should call it, stroke of genius, 0:10:19.760 --> 0:10:22.560 and that's just what he does time and again. So yeah, 0:10:22.600 --> 0:10:25.480 we worked together at Mental Floss all the way through 0:10:25.960 --> 0:10:29.400 selling the magazine I guess that was in twenty eleven 0:10:29.480 --> 0:10:33.600 to Dennis Publishing out of the UK, and stayed on 0:10:33.720 --> 0:10:36.120 to continue working there for a few more years. 0:10:36.400 --> 0:10:40.439 You left Mental Floss to pursue podcasting in twenty seventeen, 0:10:40.920 --> 0:10:44.000 still very early days of this medium. What was it 0:10:44.040 --> 0:10:46.959 about podcasting that excited you, that made you think there 0:10:47.040 --> 0:10:49.760 is something here, and I think there's even some staying 0:10:49.800 --> 0:10:52.440 power because a little fun fact and you know this, 0:10:52.600 --> 0:10:55.559 but maybe our audience doesn't. But podcasting in twenty seventeen 0:10:55.640 --> 0:10:58.160 was sort of podcasting two point zero. There was an 0:10:58.160 --> 0:11:02.040 initial era of podcasting before or the iPhone came to 0:11:02.080 --> 0:11:04.679 the scene, and it was sort of native to the iPod, 0:11:05.240 --> 0:11:07.000 but it was so converse and we had to download 0:11:07.040 --> 0:11:08.679 it before you left work to listen to it. 0:11:08.640 --> 0:11:09.280 On the subway. 0:11:09.520 --> 0:11:12.640 It didn't take right, but it wasn't until like streaming 0:11:12.679 --> 0:11:16.400 and Wi Fi became more ubiquitous that podcasting two point 0:11:16.480 --> 0:11:18.560 zero kind of took off. And that's when you arrived 0:11:18.559 --> 0:11:20.800 on the scene and now you thought, this is the moment. 0:11:21.600 --> 0:11:24.080 Yeah, but it was still in that early stage, and 0:11:24.120 --> 0:11:26.280 that's what was most appealing to us. You know, when 0:11:26.320 --> 0:11:28.240 we were at Mental Floss and when we sold it 0:11:28.280 --> 0:11:31.560 in twenty eleven, we had said to ourselves, you know, look, 0:11:31.600 --> 0:11:33.840 we want to stay here as long as it feels 0:11:33.920 --> 0:11:36.439 like a startup, as long as it feels like we 0:11:36.520 --> 0:11:39.199 are building a thing that is in. 0:11:39.160 --> 0:11:40.680 The entrepreneurship phase. 0:11:41.240 --> 0:11:44.040 Once that stops and once a business is in sort 0:11:44.080 --> 0:11:47.360 of maintenance or slow growth mode, we'd probably be ready 0:11:47.360 --> 0:11:50.679 to move on to the next thing, and that moment 0:11:50.840 --> 0:11:54.640 started to come in about twenty fifteen or so, and 0:11:54.679 --> 0:11:58.240 then we started having conversations with how Stuff Works or 0:11:58.280 --> 0:12:01.600 Stuff Media about the possibility of leaving to come on 0:12:01.679 --> 0:12:04.840 board and start a podcast, but really with the bigger 0:12:04.880 --> 0:12:08.600 goal of helping them spin off from their parent company 0:12:08.640 --> 0:12:10.360 and see what we could do with it as a 0:12:10.360 --> 0:12:14.800 podcast company. Here's a super interesting company and how Stuff Works, 0:12:15.240 --> 0:12:19.240 which by coincidence, most of their subject matter was very 0:12:19.240 --> 0:12:21.640 complimentary and in alignment with what we were doing at 0:12:21.640 --> 0:12:24.320 Mental Floss with shows like stuff you should know, Stuff 0:12:24.320 --> 0:12:27.480 you missed in history class, tech stuff, and we thought, 0:12:27.520 --> 0:12:30.880 you know, we can combine two things here, one the 0:12:30.960 --> 0:12:34.880 background that we have in these creation of general knowledge products, 0:12:35.400 --> 0:12:37.640 but to this idea of being able to jump in 0:12:37.640 --> 0:12:41.079 into a very young space and see what can happen. 0:12:41.160 --> 0:12:42.400 And I guess it was about a year and a 0:12:42.400 --> 0:12:45.240 half later with the team there, we were able to 0:12:45.320 --> 0:12:47.880 sell How Stuff Works to iHeart. 0:12:48.320 --> 0:12:51.320 And now a really big playing field at iHeart you 0:12:51.440 --> 0:12:56.199 have launched many amazing programming there and I'm just curious, 0:12:56.280 --> 0:12:58.320 you said, you like sort of like the startup, You're 0:12:58.400 --> 0:13:01.400 like a startup leader. You like that playing field, and 0:13:01.440 --> 0:13:04.600 now you're at a bigger company like iHeart. What's your 0:13:04.720 --> 0:13:08.400 approach to leadership and innovation? Is it any different? 0:13:09.280 --> 0:13:09.640 Yeah? 0:13:10.040 --> 0:13:13.320 I actually think my background and also the background of 0:13:13.520 --> 0:13:16.559 our CEO of the digital half of iHeart, Connell Burn, 0:13:17.200 --> 0:13:20.800 he also came from Stuff Media. Both of us had 0:13:20.800 --> 0:13:23.959 been and lived in the startup space, and I actually 0:13:24.000 --> 0:13:26.160 think it's really given us a lot of guidance as 0:13:26.200 --> 0:13:30.320 we think about leading larger companies because the way that 0:13:30.400 --> 0:13:35.480 we actually try to organize iHeart Podcasts, you could step 0:13:35.520 --> 0:13:38.480 back from that and say, Okay, we've got nine hundred 0:13:38.520 --> 0:13:42.920 podcasts and really think about it as this one cumulative entity. 0:13:43.440 --> 0:13:45.760 And of course we do that in the marketplace to 0:13:45.840 --> 0:13:48.720 some extent, but that's not really the way I look at. 0:13:48.559 --> 0:13:50.000 It and our best execution. 0:13:50.800 --> 0:13:53.480 What we are as a division that has maybe twenty 0:13:53.559 --> 0:13:58.280 or twenty five different teams or slates or networks and 0:13:58.320 --> 0:14:03.280 themselves that get to operate somewhat independently, get to create 0:14:03.280 --> 0:14:05.760 their own ideas, get to create many of their own 0:14:05.880 --> 0:14:08.960 marketing plans, but then have the ability to tap into 0:14:09.000 --> 0:14:12.320 the resources of a much larger organization. So what we're 0:14:12.360 --> 0:14:15.480 in effect trying to do is to fund and support 0:14:15.920 --> 0:14:19.160 startups within a larger organization so that when Charlemagne, the 0:14:19.160 --> 0:14:22.200 god legendary host of the Breakfast Club or co host 0:14:22.240 --> 0:14:24.840 of the Breakfast Club comes along and says, I think 0:14:24.880 --> 0:14:27.800 it's time to start a network dedicated to black voices 0:14:27.840 --> 0:14:31.920 because of the incredible underrepresentation in the podcast space. When 0:14:31.920 --> 0:14:34.200 he came to us in twenty twenty and express that, 0:14:34.680 --> 0:14:36.040 we so, well, now is the time to do this. 0:14:36.160 --> 0:14:38.960 Let's give it a shot, and to give him the resources, 0:14:39.520 --> 0:14:41.920 but in some ways to also step out of the 0:14:41.920 --> 0:14:43.640 way and to not get in the way of a 0:14:43.680 --> 0:14:46.400 creator or a visionary trying to create their thing. We 0:14:46.480 --> 0:14:49.520 know that we have the toolkit to help a podcast 0:14:49.560 --> 0:14:52.880 network or an individual podcast succeed through marketing and the 0:14:52.880 --> 0:14:55.760 megaphone that we have here at iHeart, but we also 0:14:55.840 --> 0:14:58.560 know we want to invest in and believe in creators 0:14:58.560 --> 0:15:01.200 to see through their vision. We've tried to do that 0:15:01.240 --> 0:15:04.080 with so many others, whether that's with Bloomberg and business, 0:15:04.080 --> 0:15:07.760 Will Ferrell and comedy Shonda Rhimes, in the creative space, 0:15:07.840 --> 0:15:10.920 the NFL, or NBA and sports. Our job is to 0:15:11.000 --> 0:15:14.800 help these great organizations and creators bring these ideas to life. 0:15:14.800 --> 0:15:16.680 So it's been fun to be able to organize that way. 0:15:16.720 --> 0:15:19.440 We don't always get it right, but in its best execution, 0:15:19.600 --> 0:15:21.239 that's the way we try to organize. 0:15:21.440 --> 0:15:25.640 Yeah, sometimes it's just let them tell you what's needed. 0:15:25.800 --> 0:15:28.840 I think sometimes leaders put the pressure on themselves to 0:15:29.000 --> 0:15:30.040 sort of figure it out. 0:15:30.280 --> 0:15:31.920 That's right, and it. 0:15:31.880 --> 0:15:34.080 Doesn't always work, but when it does, you look back 0:15:34.080 --> 0:15:35.320 and go that was kind of easy. 0:15:35.720 --> 0:15:36.560 Yeah. 0:15:36.600 --> 0:15:40.400 Actually, how do you stay on top of the trends 0:15:40.520 --> 0:15:44.320 and ensure iHeartMedia remains ahead of its competitors. It sounds 0:15:44.360 --> 0:15:47.160 like one approach is to lean into your experts and 0:15:47.200 --> 0:15:50.600 your podcast's hosts who are in it every day and 0:15:50.680 --> 0:15:51.920 hearing from their audience. 0:15:53.000 --> 0:15:53.200 Yeah. 0:15:53.240 --> 0:15:55.520 I would actually say that is the biggest way is 0:15:55.560 --> 0:15:58.440 to be listening to our leadership. So the one part 0:15:58.480 --> 0:16:01.960 that I sort of left out there, suppose in organizing 0:16:02.000 --> 0:16:05.280 that way is that it is critical that every one 0:16:05.360 --> 0:16:08.800 of those teams has an excellent leader that is, in 0:16:08.840 --> 0:16:12.440 many respects, the general manager or the president of their 0:16:12.480 --> 0:16:15.800 own small podcast company. I would say that almost more 0:16:15.840 --> 0:16:18.720 than anything. But the other thing is just listening within 0:16:18.760 --> 0:16:22.160 the industry, seeing what shows are launching, seeing what trends 0:16:22.200 --> 0:16:24.840 are out there. Seeing what's not out there is part 0:16:24.840 --> 0:16:26.600 of it, and that can be a challenge. It's really 0:16:26.640 --> 0:16:29.040 easy to follow, Oh, here's a new thing that's happening. 0:16:29.080 --> 0:16:31.840 Here's a new thing that's happening. One of the harder 0:16:31.880 --> 0:16:35.040 things I think is identifying where the gaps are. So 0:16:35.120 --> 0:16:37.200 I guess the only other thing I'd add is we 0:16:37.240 --> 0:16:39.120 do try to look at the data as well. I 0:16:39.120 --> 0:16:42.080 have a great data and analytics team here at iHeart 0:16:42.120 --> 0:16:44.600 that helps us see where those gaps are, and we 0:16:44.640 --> 0:16:47.640 look at the trends of listenership, and part of it 0:16:47.680 --> 0:16:50.880 is having to identify. Okay, I see that they are 0:16:50.960 --> 0:16:54.440 under indexing for listening within podcasts, and we have the 0:16:54.440 --> 0:16:57.040 benefit of being part of a network that can actually 0:16:57.080 --> 0:16:59.240 address that can actually move the needle because of the 0:16:59.280 --> 0:17:01.600 scale coming up. 0:17:01.640 --> 0:17:04.080 After the break, Will and I talk about adapting to 0:17:04.119 --> 0:17:08.080 the pandemic, the evolution of podcast advertising, and his advice 0:17:08.119 --> 0:17:10.280 to aspiring media professionals. 0:17:10.640 --> 0:17:15.080 The world changed in twenty twenty, and in some respects, 0:17:15.080 --> 0:17:18.240 we can't pretend that it's back to being exactly the 0:17:18.280 --> 0:17:21.119 same world today that it was before the pandemic. I 0:17:21.160 --> 0:17:24.199 think we have to acknowledge that life changed, and we 0:17:24.280 --> 0:17:26.600 need to be able to change with the world around us. 0:17:27.400 --> 0:17:28.200 We'll be right back. 0:17:37.960 --> 0:17:40.720 I have a question now, just about your approach to 0:17:41.160 --> 0:17:44.480 relating to your teams and your leaders within iHeart given 0:17:44.560 --> 0:17:47.120 that the last couple of years, few years have been 0:17:47.880 --> 0:17:51.800 very volatile, very challenging from whatever direction you're looking at, 0:17:51.800 --> 0:17:55.720 global pandemic, inflation, election cycle, and so the line between 0:17:55.760 --> 0:17:58.719 sort of home and work is blurred, and people are 0:17:58.760 --> 0:18:01.680 coming to work with a lot of heavy thoughts. 0:18:01.760 --> 0:18:03.280 And I'm sure a lot. 0:18:03.119 --> 0:18:06.280 Of CEOs and leaders in C suite are grappling with 0:18:06.359 --> 0:18:10.440 this as well. Just how to foster innovation when everything 0:18:10.520 --> 0:18:14.760 feels like it's on fire. How do you foster inspiration too, 0:18:14.880 --> 0:18:18.359 because it can be hard going into work with so 0:18:18.440 --> 0:18:19.800 many constraints at home. 0:18:20.640 --> 0:18:23.800 Yeah, it's definitely not easy, and I think the first 0:18:23.840 --> 0:18:27.679 step is actually just simply acknowledging that in your talent 0:18:27.760 --> 0:18:31.359 base or in your employee base, just not pretending that 0:18:31.440 --> 0:18:34.879 these things aren't issues and aren't still issues. Right, the 0:18:34.920 --> 0:18:39.280 world changed in twenty twenty, and in some respects we 0:18:39.400 --> 0:18:42.640 can't pretend that it's back to being exactly the same 0:18:42.680 --> 0:18:45.480 world today that it was before the pandemic I think 0:18:45.480 --> 0:18:48.560 we have to acknowledge that life changed and we need 0:18:48.600 --> 0:18:50.760 to be able to change with the world around us. 0:18:51.160 --> 0:18:54.320 But I think it's looking for those opportunities of ways 0:18:54.400 --> 0:18:57.640 to innovate even with those situations. And so in some 0:18:57.720 --> 0:19:01.920 respects we learned the advantages of being able to create 0:19:01.960 --> 0:19:04.480 and operate from home. We had a lot of talent 0:19:04.560 --> 0:19:07.880 that weren't working with us before the pandemic, and then 0:19:07.920 --> 0:19:10.200 we really learned how to very quickly. When you think 0:19:10.200 --> 0:19:13.400 about the hundreds of podcasts that we produce, and then 0:19:13.480 --> 0:19:15.520 suddenly we had to be able to produce all of 0:19:15.560 --> 0:19:18.840 them remotely and to see a team rally around this, 0:19:18.960 --> 0:19:22.040 And actually I shouldn't necessarily call it a distraction, but 0:19:22.080 --> 0:19:24.680 in some ways it was during a really difficult time 0:19:24.840 --> 0:19:28.080 during the pandemic, to have a team saying, Okay, this 0:19:28.119 --> 0:19:30.199 is a new challenge, a new focus. We're going to 0:19:30.240 --> 0:19:33.760 figure out how to very rapidly move hundreds and hundreds 0:19:33.760 --> 0:19:37.639 of podcasts to remote production. What it opened up for 0:19:37.720 --> 0:19:41.000