1 00:00:02,880 --> 00:00:06,319 Speaker 1: You're listening to Math and Magic, a production of iHeart podcasts. 2 00:00:08,000 --> 00:00:10,760 Speaker 2: And I earned trustman earned the trust of my clients, right, 3 00:00:10,800 --> 00:00:12,560 Speaker 2: That's what I was there to do. What I learned 4 00:00:12,640 --> 00:00:17,360 Speaker 2: quickly is that earning trust component was about your colleagues, 5 00:00:17,800 --> 00:00:21,280 Speaker 2: so you can move business forward in unique ways and 6 00:00:21,440 --> 00:00:24,360 Speaker 2: being able to understand what somebody else wanted and what 7 00:00:24,400 --> 00:00:26,200 Speaker 2: were their goals for the year, and how you could 8 00:00:26,239 --> 00:00:29,440 Speaker 2: help them meet them while meeting your own, and so 9 00:00:29,600 --> 00:00:34,240 Speaker 2: how to partner with somebody to really meet the greater 10 00:00:34,400 --> 00:00:39,800 Speaker 2: good of the business. Hi. 11 00:00:39,760 --> 00:00:42,159 Speaker 3: I am Bob Pittman, and welcome to this episode of 12 00:00:42,280 --> 00:00:45,440 Speaker 3: Math and Magic. Today, I've got someone's well unique soone 13 00:00:45,440 --> 00:00:47,839 Speaker 3: I work with one of my colleagues who has a 14 00:00:48,159 --> 00:00:51,560 Speaker 3: unique view of the future of advertising and the long 15 00:00:51,640 --> 00:00:55,560 Speaker 3: history and media. Lisa Coffee, Chief business Officer at iHeartMedia. 16 00:00:56,040 --> 00:00:58,200 Speaker 3: Lisa grew up in Long Island, New York, and she 17 00:00:58,240 --> 00:01:02,520 Speaker 3: has run the gamut imedius sales from traditional media newspapers 18 00:01:02,520 --> 00:01:05,399 Speaker 3: at USA Today, at Wall Street Journal magazines, at Time, 19 00:01:05,440 --> 00:01:07,800 Speaker 3: Inche and then she made the jump to what used 20 00:01:07,800 --> 00:01:10,880 Speaker 3: to be called new media at LinkedIn and then did 21 00:01:10,920 --> 00:01:13,760 Speaker 3: ten years in Amazon and a number of roles including 22 00:01:14,080 --> 00:01:17,319 Speaker 3: building the agency team that brought Amazon advertising to the 23 00:01:17,400 --> 00:01:20,640 Speaker 3: US marketplace, and finally she was at Loop Me as 24 00:01:20,680 --> 00:01:25,040 Speaker 3: Global cro She still lives on Long Island, loves voting, 25 00:01:25,520 --> 00:01:29,080 Speaker 3: She has fun and a brilliant colleague, Lisa. Welcome, Thanks 26 00:01:29,080 --> 00:01:31,680 Speaker 3: for having me. Bob, Well delighted to have you here. 27 00:01:32,080 --> 00:01:34,480 Speaker 3: Before we get started, I want to do you in 28 00:01:34,560 --> 00:01:39,200 Speaker 3: sixty seconds. Ready to go sounds great cats are dogs 29 00:01:39,560 --> 00:01:42,119 Speaker 3: dogs early riser or night out both. 30 00:01:42,240 --> 00:01:43,440 Speaker 2: I burn it on both ends. 31 00:01:44,280 --> 00:01:50,760 Speaker 3: Protein or carbs, protein, sweet or savory sweet. TikTok Instagram or. 32 00:01:50,920 --> 00:01:55,480 Speaker 2: X Instagram because of our partnership, probably converted to TikTok recently. 33 00:01:55,840 --> 00:02:01,920 Speaker 3: Great loyal introvert or extrovert, extrovert, beach mountains, beach cook 34 00:02:02,000 --> 00:02:04,080 Speaker 3: or read out cook call or. 35 00:02:04,080 --> 00:02:05,960 Speaker 2: Text should always call. 36 00:02:06,440 --> 00:02:09,720 Speaker 3: It's about to get harder. All time favorite music artist. 37 00:02:09,680 --> 00:02:12,040 Speaker 2: Hobby bun Joby. I just have the honor of meeting 38 00:02:12,120 --> 00:02:14,520 Speaker 2: him first job on a farm stand. 39 00:02:14,919 --> 00:02:18,880 Speaker 3: Favorite all time movie Top Gun, Your go to radio station, 40 00:02:19,360 --> 00:02:20,120 Speaker 3: Z one hundred. 41 00:02:20,280 --> 00:02:23,720 Speaker 2: Favorite podcast A Certain Age by Katie Foverdy. 42 00:02:24,080 --> 00:02:27,480 Speaker 3: The key to being class Mom, knowing all the kids, 43 00:02:28,200 --> 00:02:32,839 Speaker 3: smartest person you know my mom. Favorite ad campaign ever, 44 00:02:33,200 --> 00:02:37,200 Speaker 3: Fundweiser always crushes it with your Clydesdale's advice for your 45 00:02:37,280 --> 00:02:40,800 Speaker 3: kids before they go off to college, be personable, best 46 00:02:40,840 --> 00:02:45,239 Speaker 3: advice you ever got, always follow up And finally, favorite 47 00:02:45,280 --> 00:02:46,200 Speaker 3: place to visit. 48 00:02:46,320 --> 00:02:48,400 Speaker 2: My parents beach cottage on the North Fork. 49 00:02:48,600 --> 00:02:50,560 Speaker 3: Ooh great, well let's jump in. 50 00:02:50,639 --> 00:02:50,799 Speaker 2: Now. 51 00:02:51,600 --> 00:02:54,960 Speaker 3: You spend a lot of time in media that lost 52 00:02:54,960 --> 00:02:59,480 Speaker 3: a lot of its users magazine's newspapers, etc. Then you 53 00:02:59,520 --> 00:03:03,240 Speaker 3: want to meet that was growing like a weed LinkedIn, Amazon, etc. 54 00:03:03,680 --> 00:03:06,960 Speaker 3: Now you're at a company that has huge growth new 55 00:03:06,960 --> 00:03:10,520 Speaker 3: businesses like digital radio, music, podcasting of major events, but 56 00:03:10,600 --> 00:03:14,720 Speaker 3: also has radio, which has been around forever, but unlike 57 00:03:14,760 --> 00:03:17,880 Speaker 3: almost all other traditional media, radio is stronger than ever. 58 00:03:18,080 --> 00:03:20,200 Speaker 3: You and I both agree that we surprise people when 59 00:03:20,200 --> 00:03:22,440 Speaker 3: we tell them that actually we have more radio listeners 60 00:03:22,480 --> 00:03:24,919 Speaker 3: today that we did ten years ago, and even twenty 61 00:03:25,000 --> 00:03:28,640 Speaker 3: years ago, and nine and ten Americans listen to the 62 00:03:28,720 --> 00:03:32,799 Speaker 3: radio every month, and they listened to Iheart's broadcast radio 63 00:03:32,919 --> 00:03:36,280 Speaker 3: every month. It turns out, unlike TV that was just 64 00:03:36,320 --> 00:03:40,680 Speaker 3: a delivery system for programs that consumers liked, that they 65 00:03:41,120 --> 00:03:43,920 Speaker 3: really think about radio a different way. It's a companion. 66 00:03:44,280 --> 00:03:48,320 Speaker 3: Whereas the average person watches probably forty TV networks in 67 00:03:48,360 --> 00:03:51,040 Speaker 3: a month, they only listen to two or three radio stations. 68 00:03:51,280 --> 00:03:55,800 Speaker 3: So here's the question, how do you communicate that so 69 00:03:56,000 --> 00:04:01,640 Speaker 3: radio doesn't get lumped in with broadcast TV and traditional 70 00:04:01,640 --> 00:04:05,200 Speaker 3: media that's been declining. How do you explain the enduring 71 00:04:05,360 --> 00:04:06,320 Speaker 3: power of radio. 72 00:04:07,080 --> 00:04:10,800 Speaker 2: I think what's resonating most when I'm talking to clients 73 00:04:10,880 --> 00:04:17,600 Speaker 2: or even friends is that radio personalities are the original influencers. 74 00:04:18,400 --> 00:04:24,600 Speaker 2: And that seems to really open people's eyes because all 75 00:04:24,640 --> 00:04:26,720 Speaker 2: of a sudden they say, Wow, you're right about that. 76 00:04:26,920 --> 00:04:28,560 Speaker 2: You know, when you listen to the radio show in 77 00:04:28,600 --> 00:04:32,480 Speaker 2: the morning, you realize that the radio hosts are actually 78 00:04:32,560 --> 00:04:35,840 Speaker 2: talking about exactly what happened the night before, either on 79 00:04:35,880 --> 00:04:38,840 Speaker 2: the field, on the red carpet, or in the news. 80 00:04:39,080 --> 00:04:43,360 Speaker 2: And this is what influencers are doing now. They're trying 81 00:04:43,400 --> 00:04:46,240 Speaker 2: to be in the moment. And that is exactly what 82 00:04:46,680 --> 00:04:50,920 Speaker 2: radio does, being in the moment, live and amplifying, and 83 00:04:51,320 --> 00:04:53,760 Speaker 2: it resonates with people in a unique way. 84 00:04:54,240 --> 00:04:57,120 Speaker 3: Yeah, we do keep people company. Sort of forget how 85 00:04:57,200 --> 00:05:02,720 Speaker 3: much we need that companionship exactly. Culture is so important. 86 00:05:03,320 --> 00:05:06,919 Speaker 3: We often talk about culture as the operating system for 87 00:05:06,960 --> 00:05:11,440 Speaker 3: a company USA Today Wall Street Journal, to timing, to LinkedIn, 88 00:05:11,480 --> 00:05:15,359 Speaker 3: and Amazon. What did you see in those cultures, the good, 89 00:05:15,440 --> 00:05:19,600 Speaker 3: the bad, And how do you think culture affects the 90 00:05:19,640 --> 00:05:21,440 Speaker 3: operations of any company. 91 00:05:21,720 --> 00:05:24,760 Speaker 2: Culture always starts with your people, and yet it starts 92 00:05:24,760 --> 00:05:26,960 Speaker 2: at the top, right, and what kind of culture you 93 00:05:27,000 --> 00:05:31,600 Speaker 2: want to create for the company. Someplace like Time Inc. 94 00:05:31,800 --> 00:05:35,159 Speaker 2: Was very much about the content and the variety of 95 00:05:35,200 --> 00:05:39,400 Speaker 2: content we had across magazines and the assets of each 96 00:05:39,400 --> 00:05:42,440 Speaker 2: of those, whether it be Sports Illustrated or whether it 97 00:05:42,480 --> 00:05:46,640 Speaker 2: be Fortune Magazine and the most Powerful Women's Summit or 98 00:05:47,000 --> 00:05:52,440 Speaker 2: Sports Illustrated and some of their spotlight issues. And the 99 00:05:52,480 --> 00:05:56,039 Speaker 2: culture was built very much around that content. It's what 100 00:05:56,080 --> 00:05:58,640 Speaker 2: you were selling. It was what you were representing those 101 00:05:58,720 --> 00:06:01,840 Speaker 2: personalities and repute patients. And then you know, you think 102 00:06:01,880 --> 00:06:04,479 Speaker 2: about a place like LinkedIn. It was very much about 103 00:06:04,760 --> 00:06:09,160 Speaker 2: linking in and community and how you connected with people 104 00:06:09,240 --> 00:06:12,760 Speaker 2: and how you leverage those connections within the platform, and 105 00:06:12,800 --> 00:06:15,240 Speaker 2: that came through in the culture there. When I went 106 00:06:15,279 --> 00:06:18,279 Speaker 2: to Amazon, it was all about the process. It was 107 00:06:18,279 --> 00:06:21,280 Speaker 2: almost very little about the people. It was how well 108 00:06:21,360 --> 00:06:25,599 Speaker 2: the people executed the process that Jeff Vezos had implemented 109 00:06:26,120 --> 00:06:29,240 Speaker 2: twenty five thirty years ago, which was making sure you 110 00:06:29,360 --> 00:06:34,200 Speaker 2: had mechanisms in place, processes, in place, dock writing is 111 00:06:34,240 --> 00:06:37,279 Speaker 2: a big part of the culture, and all of those 112 00:06:37,360 --> 00:06:40,279 Speaker 2: things that Amazon were what created the culture, and not 113 00:06:41,160 --> 00:06:46,040 Speaker 2: so much the people. Such three different cultures across those 114 00:06:46,320 --> 00:06:50,159 Speaker 2: companies and now at iHeart, it reminds me most of 115 00:06:50,200 --> 00:06:54,160 Speaker 2: that time at Time inc because it's very much about 116 00:06:54,480 --> 00:06:58,800 Speaker 2: all of the amazing assets that iHeart has that we 117 00:06:58,920 --> 00:07:02,520 Speaker 2: get to talk about on a daily basis, whether it 118 00:07:02,520 --> 00:07:06,880 Speaker 2: be a radio personality, a great podcaster, an incredible tent 119 00:07:07,000 --> 00:07:10,840 Speaker 2: pole event like jingle Ball. You see the excitement on 120 00:07:11,480 --> 00:07:15,640 Speaker 2: the employees, You see the excitement on meetings and client 121 00:07:15,760 --> 00:07:19,600 Speaker 2: calls about our overall assets, and it drives the culture 122 00:07:19,840 --> 00:07:24,280 Speaker 2: of community. It really shines through and that the employees 123 00:07:24,280 --> 00:07:26,320 Speaker 2: are so proud of that. It's just a really cool 124 00:07:26,320 --> 00:07:27,720 Speaker 2: thing to see on a daily basis. 125 00:07:28,320 --> 00:07:31,360 Speaker 3: It's interesting somebody new comes into the mix. We have 126 00:07:31,440 --> 00:07:33,720 Speaker 3: a group of executives and suddenly there you are, as 127 00:07:33,720 --> 00:07:37,840 Speaker 3: are chief business officer. It's interesting you are sort of 128 00:07:37,960 --> 00:07:40,600 Speaker 3: a look at our whole group of folks. You are 129 00:07:40,880 --> 00:07:46,120 Speaker 3: extraordinarily level headed, even keel, thoughtful. Nothing seems to ruffle you. 130 00:07:46,960 --> 00:07:51,679 Speaker 3: Is that you or was that culture you developed from 131 00:07:51,880 --> 00:07:54,920 Speaker 3: these different companies thank you. 132 00:07:54,920 --> 00:07:59,200 Speaker 2: You know it comes from my upbringing, my parents, my family, 133 00:07:59,280 --> 00:08:02,640 Speaker 2: having a strong foundation. I stay level headed because there's 134 00:08:02,720 --> 00:08:08,760 Speaker 2: nothing to kind of get flustered by. It's everything is digestible, solvable, 135 00:08:09,120 --> 00:08:12,440 Speaker 2: being solution oriented and making sure that you choose the 136 00:08:12,480 --> 00:08:15,840 Speaker 2: best path forward. And so I don't get flustered because 137 00:08:15,840 --> 00:08:18,280 Speaker 2: I see things as a challenge and a great opportunity. 138 00:08:18,440 --> 00:08:21,560 Speaker 2: I like using the words challenge and opportunity interchangeable because 139 00:08:21,680 --> 00:08:25,720 Speaker 2: challenge almost sounds negative. My god, here's a real challenge. 140 00:08:25,760 --> 00:08:28,960 Speaker 2: But I take challenges as opportunities because that's what they are. 141 00:08:29,040 --> 00:08:31,000 Speaker 2: If you face a challenge, it's an exciting time to 142 00:08:31,000 --> 00:08:33,600 Speaker 2: figure out are you going to choose this path or 143 00:08:33,640 --> 00:08:37,560 Speaker 2: that path, and assessing what the potential outcomes of each 144 00:08:37,600 --> 00:08:40,720 Speaker 2: one are. And so just being level headed is seeing 145 00:08:40,720 --> 00:08:42,480 Speaker 2: things as an opportunity to solve. 146 00:08:43,800 --> 00:08:47,120 Speaker 3: Loop Me was your last stop before iHeart. How did 147 00:08:47,200 --> 00:08:48,640 Speaker 3: it change your view of advertising? 148 00:08:49,200 --> 00:08:52,280 Speaker 2: Lou Me was such an interesting place for me. I 149 00:08:52,360 --> 00:08:56,959 Speaker 2: learned so much at Amazon about ad tech, and loop 150 00:08:57,040 --> 00:09:00,439 Speaker 2: Me allowed me really to get much more closer and 151 00:09:00,520 --> 00:09:03,000 Speaker 2: under the hood around the supply and demand sides of 152 00:09:03,040 --> 00:09:07,800 Speaker 2: the business. It opened up my eyes to the advertising 153 00:09:07,880 --> 00:09:14,800 Speaker 2: industry and recognizing how interoperable the industry is, being able 154 00:09:14,840 --> 00:09:18,600 Speaker 2: to bolt on measurement or being able to move supply 155 00:09:18,760 --> 00:09:22,880 Speaker 2: into one system into another, how to increase demand against 156 00:09:22,880 --> 00:09:26,840 Speaker 2: certain supply. Probably my job where I had the biggest 157 00:09:26,920 --> 00:09:29,320 Speaker 2: learning curve because it was more of the guts of 158 00:09:29,360 --> 00:09:32,960 Speaker 2: the industry that I had never truly been exposed to, 159 00:09:33,760 --> 00:09:37,720 Speaker 2: and so it opened my eyes on the complexity of 160 00:09:37,760 --> 00:09:40,520 Speaker 2: the industry and yet the simplicity of the industry. 161 00:09:41,480 --> 00:09:45,880 Speaker 3: You had some really interesting stops along the way. Huge brands, 162 00:09:45,880 --> 00:09:48,680 Speaker 3: I mean, Time Make may not seem as relevant today, 163 00:09:48,760 --> 00:09:51,000 Speaker 3: but at the moment you were there, it was one 164 00:09:51,040 --> 00:09:54,000 Speaker 3: of the biggest media companies in America with an enormous 165 00:09:54,000 --> 00:09:57,960 Speaker 3: footprint and impact. Same with Wall Street Journal USA Today, etc. 166 00:09:58,960 --> 00:10:00,960 Speaker 3: What lessons did you learn that you bring with you 167 00:10:01,080 --> 00:10:03,560 Speaker 3: today and this sort of have become a part of you. 168 00:10:04,640 --> 00:10:08,559 Speaker 2: I think trust and transparency was one of the biggest 169 00:10:09,200 --> 00:10:12,800 Speaker 2: quarterstones of Time Inc. We worked a lot with the 170 00:10:13,000 --> 00:10:18,800 Speaker 2: editorial team, and I always respected how they really kept 171 00:10:19,240 --> 00:10:23,000 Speaker 2: the separation between church and state and how important that was. 172 00:10:23,160 --> 00:10:26,200 Speaker 2: That was a big learning or a great thing to 173 00:10:26,240 --> 00:10:28,240 Speaker 2: see because I knew at the time there were so 174 00:10:28,320 --> 00:10:32,160 Speaker 2: many other editorial properties out there that were really doing 175 00:10:32,200 --> 00:10:35,520 Speaker 2: things for the advertiser. And I loved that time. INC 176 00:10:36,080 --> 00:10:39,720 Speaker 2: really kept that separation between church and state. It allowed 177 00:10:39,720 --> 00:10:43,640 Speaker 2: me to learn how to uphold the standards of the industry. 178 00:10:43,679 --> 00:10:45,439 Speaker 2: And I would have to say, I think that's really 179 00:10:45,760 --> 00:10:48,880 Speaker 2: continued throughout my career and making sure that you don't 180 00:10:48,960 --> 00:10:51,319 Speaker 2: fold for the wrong reasons and you really want to 181 00:10:51,400 --> 00:10:56,360 Speaker 2: keep the authenticity and true brand integrate. I hang the 182 00:10:56,480 --> 00:10:59,880 Speaker 2: time at Amazon. You know, Amazon is a culture built 183 00:11:00,200 --> 00:11:04,760 Speaker 2: leadership principles, and the one that I just love was 184 00:11:05,120 --> 00:11:08,679 Speaker 2: earned trust. And it's funny because when I was when 185 00:11:08,720 --> 00:11:10,640 Speaker 2: I got there as a salesperson, I always saw earned 186 00:11:10,640 --> 00:11:12,760 Speaker 2: trusts meant earned the trust of my clients, right, That's 187 00:11:12,760 --> 00:11:14,200 Speaker 2: what I was there to do. I was there to 188 00:11:14,240 --> 00:11:17,200 Speaker 2: sell advertising, and I needed them to trust me so 189 00:11:17,240 --> 00:11:19,320 Speaker 2: I could bring them along for the ride. And what 190 00:11:19,400 --> 00:11:23,120 Speaker 2: I learned quickly, specifically at Amazon because of how big 191 00:11:23,160 --> 00:11:25,120 Speaker 2: it was and how many different parts of the business 192 00:11:25,160 --> 00:11:29,520 Speaker 2: they were, is that earning trust component was about your 193 00:11:29,559 --> 00:11:34,120 Speaker 2: colleagues and earning trust with other individuals so you can 194 00:11:34,280 --> 00:11:38,320 Speaker 2: move business forward in unique ways and being able to 195 00:11:38,400 --> 00:11:41,440 Speaker 2: understand what somebody else wanted and needed to achieve what 196 00:11:41,480 --> 00:11:43,320 Speaker 2: were their goals for the year, and how you could 197 00:11:43,320 --> 00:11:46,520 Speaker 2: help them meet them while meeting your own, and so 198 00:11:46,679 --> 00:11:51,320 Speaker 2: how to partner with somebody to really meet the greater 199 00:11:51,480 --> 00:11:55,080 Speaker 2: good of the business and earned trust is truly one 200 00:11:55,120 --> 00:11:58,200 Speaker 2: that I have applied everywhere in my career and it 201 00:11:58,280 --> 00:12:02,199 Speaker 2: really has become a guy principle in my life overall. 202 00:12:02,679 --> 00:12:04,800 Speaker 2: That's how I approach, you know, getting to iHeart and 203 00:12:05,320 --> 00:12:08,320 Speaker 2: really hard coming to iHeart when people have been here, 204 00:12:08,520 --> 00:12:11,319 Speaker 2: you know, fifteen years, it's like the average time ten 205 00:12:11,360 --> 00:12:13,440 Speaker 2: to fifteen years the people have been here and being new, 206 00:12:14,000 --> 00:12:18,079 Speaker 2: you quickly recognize that you have to earn trust of others, 207 00:12:18,559 --> 00:12:21,199 Speaker 2: have them understand what your goals are, what you're trying 208 00:12:21,240 --> 00:12:23,800 Speaker 2: to obtain for the greater good of the business, and 209 00:12:23,840 --> 00:12:27,199 Speaker 2: how you can help others meet their goals through achieving 210 00:12:27,760 --> 00:12:32,040 Speaker 2: different objectives that we set together. A great example I 211 00:12:32,120 --> 00:12:36,319 Speaker 2: have is just around when we launched the Amazon firephone, 212 00:12:36,400 --> 00:12:39,800 Speaker 2: which many may not remember because it did not succeed. 213 00:12:39,880 --> 00:12:43,080 Speaker 2: It was one of probably Amazon's biggest failures at the 214 00:12:43,120 --> 00:12:45,800 Speaker 2: time because we thought launching a phone would be easy 215 00:12:46,200 --> 00:12:51,160 Speaker 2: and it certainly wasn't. But that was truly a collective, 216 00:12:52,280 --> 00:12:56,360 Speaker 2: multi team effort from my business, you know, I called 217 00:12:56,400 --> 00:12:59,160 Speaker 2: on the telcos and how to get the telcos on 218 00:12:59,240 --> 00:13:04,320 Speaker 2: board with the potential advertising opportunities, to also working with 219 00:13:04,880 --> 00:13:08,679 Speaker 2: the telco team who had the partnerships with not just 220 00:13:08,840 --> 00:13:14,040 Speaker 2: the phone OEMs but also the telco companies, and how 221 00:13:14,080 --> 00:13:18,240 Speaker 2: we approached them to launch a net new product that 222 00:13:18,360 --> 00:13:22,360 Speaker 2: was potentially going to disrupt the industry. And there was 223 00:13:22,440 --> 00:13:24,560 Speaker 2: so many aspects of that that if we had not 224 00:13:24,679 --> 00:13:27,880 Speaker 2: worked together as a team, we would have been competing 225 00:13:27,920 --> 00:13:32,200 Speaker 2: against each other. And establishing that trust and understanding what 226 00:13:32,280 --> 00:13:34,840 Speaker 2: each of our goals and objectives were of those different 227 00:13:34,920 --> 00:13:38,640 Speaker 2: business units allowed us to be able to go to 228 00:13:38,760 --> 00:13:42,000 Speaker 2: market in a way that was a collective approach to 229 00:13:42,040 --> 00:13:45,280 Speaker 2: the industry and what we were trying to achieve. Now, granted, 230 00:13:45,440 --> 00:13:48,920 Speaker 2: like I said, it certainly wasn't a success, but it 231 00:13:48,960 --> 00:13:51,599 Speaker 2: was probably the most integrated way I had worked across 232 00:13:51,679 --> 00:13:55,440 Speaker 2: all of Amazon. And that's where really earning trust and 233 00:13:55,720 --> 00:13:57,560 Speaker 2: it was early on in my career at Amazon, and 234 00:13:57,600 --> 00:14:01,800 Speaker 2: that's where it really allowed me to understand what it 235 00:14:01,920 --> 00:14:03,319 Speaker 2: meant across the organization. 236 00:14:04,200 --> 00:14:08,240 Speaker 3: You know, it's interesting our place, someone years ago added 237 00:14:08,280 --> 00:14:12,959 Speaker 3: something to our thought process, which was we don't win 238 00:14:13,080 --> 00:14:16,480 Speaker 3: or lose. We either win or we learned something. And 239 00:14:16,520 --> 00:14:19,400 Speaker 3: I suspect Amazon learned a lot from the firephone. 240 00:14:19,800 --> 00:14:24,040 Speaker 2: Oh yes, that phone actually was the basis of Alexa, 241 00:14:24,440 --> 00:14:26,640 Speaker 2: and so they already had a lot of learnings from 242 00:14:26,640 --> 00:14:29,800 Speaker 2: that and it allowed them to build a great product. 243 00:14:29,840 --> 00:14:31,320 Speaker 2: And what we know today is Alexa. 244 00:14:32,160 --> 00:14:33,680 Speaker 3: You know, I want to follow up just a little 245 00:14:33,680 --> 00:14:36,880 Speaker 3: bit on this whole discussion on Amazon because I really 246 00:14:36,880 --> 00:14:40,400 Speaker 3: do think they do teamwork collaboration extraordinarily well when they 247 00:14:40,400 --> 00:14:45,560 Speaker 3: build stuff. How do you think about building teams and 248 00:14:46,480 --> 00:14:47,840 Speaker 3: getting people to collaborate. 249 00:14:48,600 --> 00:14:52,920 Speaker 2: I have found it to be most successful when you've 250 00:14:52,960 --> 00:14:59,720 Speaker 2: shared goals number one, because you then understand the person 251 00:14:59,760 --> 00:15:01,800 Speaker 2: that's sitting on the other side of the table from 252 00:15:01,840 --> 00:15:05,200 Speaker 2: you and what their goals are and how they map 253 00:15:05,280 --> 00:15:09,840 Speaker 2: to your goals. You also do collective planning and understanding 254 00:15:09,920 --> 00:15:13,880 Speaker 2: having a view on the business of the dependencies you 255 00:15:14,000 --> 00:15:17,400 Speaker 2: have on each other. There's no one individual that can 256 00:15:17,800 --> 00:15:21,120 Speaker 2: make things happen. When we look at our business. If 257 00:15:21,360 --> 00:15:24,960 Speaker 2: my partner, who's bringing in the new podcaster, or we 258 00:15:25,040 --> 00:15:27,280 Speaker 2: will look at together what's the P and L of this, 259 00:15:27,520 --> 00:15:31,120 Speaker 2: How can we bring this talent to market? Who is 260 00:15:31,160 --> 00:15:35,720 Speaker 2: the audience for this talent. What is the other pillars 261 00:15:35,760 --> 00:15:39,200 Speaker 2: that we can launch from this? If it's live events, 262 00:15:39,600 --> 00:15:41,440 Speaker 2: then we have to go not just to the podcast 263 00:15:41,440 --> 00:15:43,640 Speaker 2: group or the distribution group, we also go to the 264 00:15:43,640 --> 00:15:46,000 Speaker 2: live events group, and you also go to the radio group. 265 00:15:46,080 --> 00:15:48,840 Speaker 2: Is their opportunity for someone to be on the air. 266 00:15:48,920 --> 00:15:51,560 Speaker 2: And so there's so many dependencies on each other. And 267 00:15:52,560 --> 00:15:56,280 Speaker 2: once you see that, you recognize that we all depend 268 00:15:56,320 --> 00:15:59,360 Speaker 2: on each other to get things done and no one 269 00:15:59,640 --> 00:16:04,760 Speaker 2: group can really function on their own. And so the 270 00:16:04,800 --> 00:16:09,760 Speaker 2: best way thing to show that to individuals is to 271 00:16:09,840 --> 00:16:12,800 Speaker 2: truly have shared goals and share your goals. 272 00:16:13,400 --> 00:16:16,720 Speaker 3: Well, it's interesting you are although you have a sales background, 273 00:16:17,120 --> 00:16:20,440 Speaker 3: I'm impressed with how much you understand about technology because 274 00:16:20,440 --> 00:16:24,000 Speaker 3: it drives so much of what you do, especially getting 275 00:16:24,040 --> 00:16:28,680 Speaker 3: us into the modern world of advertising. I want to 276 00:16:28,680 --> 00:16:31,480 Speaker 3: talk a little bit about tech driving advertising. You have 277 00:16:31,600 --> 00:16:35,760 Speaker 3: created something at iHeart called Audiograph. We talked about radio 278 00:16:35,840 --> 00:16:39,920 Speaker 3: while it's really enduring, Why do people think radio isn't 279 00:16:40,080 --> 00:16:42,920 Speaker 3: because for the most part, the advertising is bought and 280 00:16:42,960 --> 00:16:46,400 Speaker 3: sold the way it was twenty years ago. You're changing that. 281 00:16:46,960 --> 00:16:49,120 Speaker 3: So can you talk a little bit about Audiograph, how 282 00:16:49,160 --> 00:16:51,840 Speaker 3: you're using technology and what that means for the future 283 00:16:51,880 --> 00:16:52,560 Speaker 3: of advertising. 284 00:16:52,960 --> 00:16:56,680 Speaker 2: So, first and foremost, how I like to tell the 285 00:16:56,720 --> 00:17:02,200 Speaker 2: story of Audiograph is of audio consumption, sixty four percent 286 00:17:02,600 --> 00:17:08,400 Speaker 2: is AMFM radio, but today only thirty percent of audio 287 00:17:08,880 --> 00:17:14,080 Speaker 2: is available to be transacted programmatically. What is available programmatically 288 00:17:14,160 --> 00:17:18,879 Speaker 2: or podcasts and streaming very important, very leaned in audiences. 289 00:17:18,920 --> 00:17:23,160 Speaker 2: There certainly that case, but right now there's seventy percent 290 00:17:23,480 --> 00:17:27,960 Speaker 2: of audio inventory that is not available to programmatic buyers, 291 00:17:28,440 --> 00:17:31,960 Speaker 2: upwards of ninety percent of all ad dollars of being 292 00:17:32,000 --> 00:17:36,040 Speaker 2: spent programmatically. That is where the huge opportunity is. When 293 00:17:36,040 --> 00:17:39,720 Speaker 2: I say that stat to clients, they cannot believe when 294 00:17:39,720 --> 00:17:43,879 Speaker 2: they realize that the fact that AMFM radio, what is 295 00:17:43,960 --> 00:17:47,120 Speaker 2: creating culture that we talked about earlier, right creating culture, 296 00:17:47,480 --> 00:17:50,439 Speaker 2: whether it be during a game, the morning after the 297 00:17:50,440 --> 00:17:54,800 Speaker 2: red carpet, what those radio hosts are talking about, is 298 00:17:54,880 --> 00:18:01,200 Speaker 2: not available to programmatic buyers. They realize the this opportunity 299 00:18:01,200 --> 00:18:05,359 Speaker 2: that we have and what Audiograph is. It brings broadcast 300 00:18:05,440 --> 00:18:09,640 Speaker 2: radio to parity with the industry. It makes broadcast radio addressable, 301 00:18:09,800 --> 00:18:14,359 Speaker 2: measurable and programmatically transactable. And this has really been somewhat 302 00:18:14,400 --> 00:18:18,760 Speaker 2: of a demand of the industry very much driven by measurement. 303 00:18:19,240 --> 00:18:23,359 Speaker 2: Advertisers and agencies want to understand and always be able 304 00:18:23,400 --> 00:18:27,040 Speaker 2: to measure the impact of what they purchased. By building Audiograph, 305 00:18:27,080 --> 00:18:31,520 Speaker 2: we're going to increase audio inventory in the programmatic ecosystem 306 00:18:31,600 --> 00:18:35,399 Speaker 2: by four hundred percent. And so what we're doing with 307 00:18:35,440 --> 00:18:39,520 Speaker 2: Audiograph is we're building out our identity through different signals 308 00:18:39,560 --> 00:18:42,720 Speaker 2: we have, whether it be iheartaff streaming, building out an 309 00:18:42,760 --> 00:18:47,199 Speaker 2: identity with TransUnion, and then being able to measure that 310 00:18:47,359 --> 00:18:51,000 Speaker 2: post impression. And so it really brings to light in 311 00:18:51,040 --> 00:18:56,360 Speaker 2: the industry that we can behave and act like digital. 312 00:18:56,840 --> 00:19:01,160 Speaker 2: And then the programmatic aspect of that is very important 313 00:19:01,200 --> 00:19:05,360 Speaker 2: because it's upwards of ninety percent of all AD dollars 314 00:19:05,359 --> 00:19:08,960 Speaker 2: of being spent programmatically. So Bob, that kind of maps 315 00:19:09,000 --> 00:19:10,840 Speaker 2: back to exactly or saying, if all of a sudden 316 00:19:10,840 --> 00:19:13,400 Speaker 2: you say, oh, by the way, seventy percent of audio 317 00:19:13,480 --> 00:19:17,760 Speaker 2: out there is not available programmatically, you say, well, gosh, 318 00:19:17,800 --> 00:19:20,600 Speaker 2: that's a bummer, because that is a huge amount of 319 00:19:21,000 --> 00:19:23,840 Speaker 2: inventory and opportunity that you want to buy into. And 320 00:19:23,880 --> 00:19:27,040 Speaker 2: then when you say and ninety percent of AD dollars 321 00:19:27,080 --> 00:19:29,919 Speaker 2: is spent programmatically, you say, wow, I'm missing, you know, 322 00:19:30,520 --> 00:19:34,040 Speaker 2: tremendous opportunity out there. You know, that's the story that 323 00:19:34,600 --> 00:19:36,960 Speaker 2: when we're out talking about it in the marketplace, really 324 00:19:37,000 --> 00:19:41,080 Speaker 2: starts to resonate with advertisers and overall. I mean, this 325 00:19:41,160 --> 00:19:44,679 Speaker 2: is the continued evolution of the industry. Right. Advertising is 326 00:19:44,920 --> 00:19:48,159 Speaker 2: certainly not sitting still, and this to me is the 327 00:19:48,200 --> 00:19:52,960 Speaker 2: next frontier of innovation. And it's actually why I joined iHeart. 328 00:19:53,440 --> 00:20:01,320 Speaker 3: Or a Mathemagic. Right after this quick break, welcome back 329 00:20:01,359 --> 00:20:03,800 Speaker 3: to math and Magic. Let's hear more from my conversation 330 00:20:03,920 --> 00:20:07,600 Speaker 3: with Lisa Coffee. Let's go back in time. Son, you 331 00:20:07,640 --> 00:20:10,679 Speaker 3: grew up in the nineteen seventies and eighties on Long Island. 332 00:20:11,119 --> 00:20:12,919 Speaker 3: What was that like? Paint the picture? 333 00:20:13,560 --> 00:20:16,280 Speaker 2: It was very much you went out for the day 334 00:20:16,359 --> 00:20:18,840 Speaker 2: and you came home and your mom screamed out the 335 00:20:18,880 --> 00:20:21,639 Speaker 2: door to come home for dinner. I was always on 336 00:20:21,680 --> 00:20:25,919 Speaker 2: the go. I loved still love my friends, and loved 337 00:20:25,920 --> 00:20:29,200 Speaker 2: being out. I was always curious and adventurous. My parents 338 00:20:29,240 --> 00:20:31,800 Speaker 2: always had us out and about. We went skiing in 339 00:20:31,840 --> 00:20:34,399 Speaker 2: the winter. In the summer, we were out at the 340 00:20:34,440 --> 00:20:38,160 Speaker 2: beach out on the North Fork, and really enjoyed time 341 00:20:38,200 --> 00:20:40,400 Speaker 2: out doors. I never sat still and I think it's 342 00:20:40,440 --> 00:20:43,719 Speaker 2: really what built my curiosity, and it's my curiosity that 343 00:20:43,760 --> 00:20:46,000 Speaker 2: has served me well in my career as well. Is 344 00:20:46,200 --> 00:20:50,320 Speaker 2: never sitting back and being happy with what I've achieved. 345 00:20:50,920 --> 00:20:56,000 Speaker 2: My dad started at IBM in the sixties as a mechanic. Well, 346 00:20:56,000 --> 00:20:59,159 Speaker 2: he put himself through college at night. He got his 347 00:20:59,240 --> 00:21:02,560 Speaker 2: college degree, where he then ended up switching to finance 348 00:21:02,600 --> 00:21:05,760 Speaker 2: and rose through the ranks of finance at IBM. He 349 00:21:05,840 --> 00:21:08,160 Speaker 2: had a vision and he knew what he wanted to achieve, 350 00:21:08,280 --> 00:21:10,560 Speaker 2: and I think I learned quite a bit from that, 351 00:21:11,119 --> 00:21:13,760 Speaker 2: and yet my mom was actually the woman that drove 352 00:21:13,840 --> 00:21:17,760 Speaker 2: us all. From both of them, I really learned life skills. 353 00:21:17,920 --> 00:21:19,560 Speaker 2: Some of my favorite life skills. I like to talk 354 00:21:19,600 --> 00:21:22,320 Speaker 2: about our hustle. My mother always said, if you have 355 00:21:22,359 --> 00:21:25,520 Speaker 2: some hustle, you'll have an advantage over everybody else. And 356 00:21:25,600 --> 00:21:27,520 Speaker 2: with that, one of her other lessons in life was 357 00:21:27,600 --> 00:21:30,600 Speaker 2: always follow up and make that phone call and you 358 00:21:30,680 --> 00:21:33,959 Speaker 2: will get the job. Family and community were also a 359 00:21:33,960 --> 00:21:37,360 Speaker 2: big part of my growing up years and still are 360 00:21:37,600 --> 00:21:41,240 Speaker 2: a strong foundation has made me the confident and stable 361 00:21:41,320 --> 00:21:44,679 Speaker 2: person I am today, and I really focus on that 362 00:21:44,760 --> 00:21:48,159 Speaker 2: with my own family. My husband, he grew up on 363 00:21:48,240 --> 00:21:52,600 Speaker 2: a British Army camp in Germany, and so he had 364 00:21:53,280 --> 00:21:56,560 Speaker 2: a somewhat unstable childhood, I guess you could say, because 365 00:21:57,200 --> 00:22:00,040 Speaker 2: his parents were teachers on the army camp and so 366 00:22:00,520 --> 00:22:03,440 Speaker 2: students left every year, you know, they moved on to 367 00:22:03,520 --> 00:22:07,400 Speaker 2: different locations, so he doesn't have like a strong childhood 368 00:22:07,480 --> 00:22:10,200 Speaker 2: friend group. And when we met, I think one of 369 00:22:10,240 --> 00:22:13,520 Speaker 2: the very compelling things of our relationship was he really 370 00:22:13,640 --> 00:22:16,840 Speaker 2: liked this stability, and even with our as our kids 371 00:22:16,840 --> 00:22:19,160 Speaker 2: were born and we were growing up at certain points, 372 00:22:19,200 --> 00:22:21,119 Speaker 2: so like, hey, you want to move to Europe maybe, 373 00:22:21,160 --> 00:22:24,040 Speaker 2: and he was like, no, we need a really strong foundation, 374 00:22:24,200 --> 00:22:27,199 Speaker 2: and so you kind of take it for granted, and 375 00:22:27,240 --> 00:22:30,000 Speaker 2: it's almost not until you have kids do you see 376 00:22:30,000 --> 00:22:31,119 Speaker 2: the true benefits of that. 377 00:22:31,960 --> 00:22:35,200 Speaker 3: How do you think about work life balance or maybe 378 00:22:35,240 --> 00:22:36,320 Speaker 3: work life integration. 379 00:22:37,320 --> 00:22:40,640 Speaker 2: Well, I chose a career that I love. I love 380 00:22:40,680 --> 00:22:43,480 Speaker 2: the advertising industry. I always knew I wanted to go 381 00:22:43,520 --> 00:22:46,840 Speaker 2: into advertising. I loved watching commercials from the time I 382 00:22:46,880 --> 00:22:49,800 Speaker 2: was young. And I think I'm fortunate in that sense 383 00:22:49,920 --> 00:22:52,720 Speaker 2: that I truly love what I do and it integrates 384 00:22:52,720 --> 00:22:55,760 Speaker 2: into my life. Well. As I said earlier, I'm an extrovert, 385 00:22:55,880 --> 00:23:00,159 Speaker 2: so I thoroughly enjoy sales. I enjoy the win in 386 00:23:00,280 --> 00:23:03,359 Speaker 2: of sales. I enjoy the sales process truly, from beginning 387 00:23:03,359 --> 00:23:06,959 Speaker 2: to end, prospecting to meeting a new client, to building 388 00:23:07,000 --> 00:23:10,720 Speaker 2: that relationship and getting to a place where you're helped 389 00:23:10,760 --> 00:23:14,360 Speaker 2: them drive success for their business. There's nothing more rewarding 390 00:23:14,400 --> 00:23:17,720 Speaker 2: than that. And so to me, that very much applies 391 00:23:17,800 --> 00:23:20,200 Speaker 2: to your personal life and how you want to show 392 00:23:20,240 --> 00:23:21,800 Speaker 2: up in your personal life and what you want to 393 00:23:21,800 --> 00:23:24,760 Speaker 2: bring your friends and family, want them to be successful 394 00:23:24,760 --> 00:23:27,960 Speaker 2: and be able to offer them different opportunities. It's funny, 395 00:23:28,000 --> 00:23:30,480 Speaker 2: I've really never had problem with work life balance, and 396 00:23:30,520 --> 00:23:33,879 Speaker 2: I think because I love my work so much. That said, 397 00:23:34,040 --> 00:23:37,040 Speaker 2: I've always had my priorities. You know, last year my 398 00:23:37,200 --> 00:23:39,919 Speaker 2: sons graduated high school. They were seniors, and I have 399 00:23:39,960 --> 00:23:42,600 Speaker 2: twin boys, and it was their senior year and they 400 00:23:42,640 --> 00:23:45,159 Speaker 2: played football and they played lacrosse and I did not 401 00:23:45,240 --> 00:23:49,040 Speaker 2: miss a single game. So I certainly have my priorities. 402 00:23:49,480 --> 00:23:51,600 Speaker 2: And you just have to know what's important to you 403 00:23:51,720 --> 00:23:53,320 Speaker 2: and where you want to be and where you want 404 00:23:53,359 --> 00:23:53,920 Speaker 2: to show up. 405 00:23:54,240 --> 00:23:57,159 Speaker 3: I always told my kids, my work is like a 406 00:23:57,200 --> 00:23:59,639 Speaker 3: great video game. I can't wait to get by the 407 00:23:59,640 --> 00:24:01,399 Speaker 3: morning start playing it at the end of the day, 408 00:24:01,400 --> 00:24:03,399 Speaker 3: I don't want to put it away. I think that 409 00:24:03,640 --> 00:24:06,159 Speaker 3: probably helped them understand that I actually loved what I 410 00:24:06,200 --> 00:24:07,760 Speaker 3: did and that I enjoyed it. 411 00:24:07,880 --> 00:24:10,320 Speaker 2: I love that analogy. That's absolutely true. 412 00:24:10,560 --> 00:24:16,000 Speaker 3: Let's jump a minute. AI friend or folk h friend, 413 00:24:16,600 --> 00:24:21,000 Speaker 3: and how do you think it's changing the media business? 414 00:24:21,440 --> 00:24:25,000 Speaker 3: We at High Heart, you know, were promising guaranteed human 415 00:24:25,480 --> 00:24:27,720 Speaker 3: Can you talk a little bit about that and why 416 00:24:27,800 --> 00:24:30,080 Speaker 3: and how we arrived at that, what we saw in 417 00:24:30,119 --> 00:24:32,040 Speaker 3: the marketplace and with our users. 418 00:24:32,280 --> 00:24:40,879 Speaker 2: AI is truly one of the fastest growing technologies I've 419 00:24:40,920 --> 00:24:46,280 Speaker 2: ever seen, and the most I wouldn't say disruptive to 420 00:24:46,359 --> 00:24:52,879 Speaker 2: our industry, the fastest influence an impact I think on 421 00:24:52,920 --> 00:24:56,760 Speaker 2: the industry. It's incredible. It just makes you work faster 422 00:24:56,960 --> 00:24:59,480 Speaker 2: and harder. But you have to slow down for a 423 00:24:59,520 --> 00:25:02,879 Speaker 2: minute to learn how to do that. Right. We're working 424 00:25:02,920 --> 00:25:05,320 Speaker 2: through so many different aspects right now. How do we 425 00:25:05,359 --> 00:25:08,800 Speaker 2: create faster, better account plans, how to create faster better 426 00:25:08,840 --> 00:25:11,760 Speaker 2: emails to clients that are so customized to their business 427 00:25:11,800 --> 00:25:14,760 Speaker 2: that a seller almost doesn't have to think. They just 428 00:25:14,800 --> 00:25:16,560 Speaker 2: need to know what the prompt is that they need 429 00:25:16,600 --> 00:25:19,520 Speaker 2: to ask, and they'll pull the relevancy of their client 430 00:25:19,600 --> 00:25:22,680 Speaker 2: and their business, and yet you still need to understand 431 00:25:22,680 --> 00:25:26,720 Speaker 2: your client's business so you can guide that information correctly. 432 00:25:27,240 --> 00:25:32,160 Speaker 2: And so I love that we are committed to using 433 00:25:32,200 --> 00:25:36,280 Speaker 2: AI to make us better, faster, smarter. That is very 434 00:25:36,359 --> 00:25:38,560 Speaker 2: much how we are looking at it. And what I 435 00:25:38,680 --> 00:25:43,560 Speaker 2: love also about you know, you and iHeart holistically have 436 00:25:43,680 --> 00:25:50,320 Speaker 2: done with Guaranteed Human is making consumers see and understand 437 00:25:50,359 --> 00:25:55,440 Speaker 2: the value of the human voice, the guaranteed Human promise, 438 00:25:55,640 --> 00:25:59,120 Speaker 2: because we are at a point where consumers are becoming 439 00:25:59,200 --> 00:26:01,639 Speaker 2: really leery of of what AI is and what kind 440 00:26:01,680 --> 00:26:03,520 Speaker 2: of music are they listening to? Is is they really 441 00:26:03,560 --> 00:26:06,240 Speaker 2: even an artist? Who are they getting their news from? 442 00:26:06,680 --> 00:26:12,600 Speaker 2: People aren't trusting everything right, So while everybody's using AI, 443 00:26:13,240 --> 00:26:16,160 Speaker 2: the research shows that they still want their news from 444 00:26:16,160 --> 00:26:19,520 Speaker 2: a human and that's where iHeart comes in and with 445 00:26:19,600 --> 00:26:23,560 Speaker 2: our Guaranteed Human Promise, And that's a commitment to consumers, 446 00:26:23,560 --> 00:26:26,480 Speaker 2: and I think it's a really smart commitment and it's 447 00:26:26,520 --> 00:26:29,760 Speaker 2: resonating with people, not just the industry, but the world 448 00:26:29,760 --> 00:26:34,200 Speaker 2: at large. Consumers because they recognize where they can get 449 00:26:34,240 --> 00:26:38,080 Speaker 2: their news, who they can trust, the reliance on your 450 00:26:38,119 --> 00:26:42,399 Speaker 2: local market community and what your local radio station is saying, 451 00:26:42,520 --> 00:26:45,439 Speaker 2: especially to in times of crisis, which we've seen with 452 00:26:45,760 --> 00:26:50,679 Speaker 2: the fires in California, the core communicator to people that 453 00:26:50,720 --> 00:26:52,720 Speaker 2: were stuck. They couldn't get to their homes, they didn't 454 00:26:52,760 --> 00:26:55,119 Speaker 2: know what was happening, and so to be able to 455 00:26:55,400 --> 00:26:59,600 Speaker 2: contribute to community and society in that way is also 456 00:26:59,840 --> 00:27:03,960 Speaker 2: a unique and special place to be as a company 457 00:27:03,960 --> 00:27:07,040 Speaker 2: and a service to consumers at large. I mean, the 458 00:27:07,040 --> 00:27:12,720 Speaker 2: amplification of radio is unrivaled, and to be able to 459 00:27:12,720 --> 00:27:18,000 Speaker 2: have that guaranteed human promise behind it is really what 460 00:27:18,200 --> 00:27:20,960 Speaker 2: means a lot. It's not just the scale, but it's 461 00:27:20,960 --> 00:27:23,960 Speaker 2: the guaranteed human promise that really makes it rise to 462 00:27:24,040 --> 00:27:25,400 Speaker 2: the top here. 463 00:27:25,440 --> 00:27:28,200 Speaker 3: You know, it's funny we sort of surprised people sometimes 464 00:27:28,280 --> 00:27:31,000 Speaker 3: when they talk about a broadcast radio and we say, well, actually, 465 00:27:31,400 --> 00:27:33,080 Speaker 3: do you know how we built ourselves to be the 466 00:27:33,160 --> 00:27:36,280 Speaker 3: number one podcast publisher, or how we've got the biggest 467 00:27:36,359 --> 00:27:39,320 Speaker 3: digital radio service, or how we do all these big 468 00:27:39,359 --> 00:27:43,879 Speaker 3: events we use broadcast radio. You just were involved in 469 00:27:43,920 --> 00:27:47,960 Speaker 3: one of the most exciting mashups and media TikTok and 470 00:27:48,000 --> 00:27:52,320 Speaker 3: Iheart's radio stations. We work together on the preview of 471 00:27:52,440 --> 00:27:56,320 Speaker 3: Bruno Mar's new music before he was released. I'm happy 472 00:27:56,359 --> 00:27:59,760 Speaker 3: to say this is his first ever album that debuted 473 00:27:59,800 --> 00:28:02,840 Speaker 3: at number one, so obviously it was a big success. 474 00:28:03,280 --> 00:28:05,320 Speaker 3: What does that say about radio? 475 00:28:05,920 --> 00:28:10,080 Speaker 2: I love telling the TikTok story because TikTok came to us. 476 00:28:10,600 --> 00:28:16,520 Speaker 2: TikTok approached iHeart because TikTok wants number one. What is 477 00:28:16,560 --> 00:28:19,640 Speaker 2: the next phase? Right? They have all of these influencers 478 00:28:19,720 --> 00:28:23,480 Speaker 2: who are out trying to create moments, trying to create 479 00:28:23,520 --> 00:28:27,040 Speaker 2: cultural moments, be able to capture them, to amplify to 480 00:28:27,080 --> 00:28:31,320 Speaker 2: the world. That is the pure essence of social media 481 00:28:31,480 --> 00:28:34,120 Speaker 2: is to amplify this message and this moment in time 482 00:28:34,200 --> 00:28:38,840 Speaker 2: that's happening. Capturing these cultural moments, and for TikTok to 483 00:28:38,920 --> 00:28:44,240 Speaker 2: approach iHeart, it is the truest testament to how culturally relevant, 484 00:28:44,680 --> 00:28:49,320 Speaker 2: how real time live and in the moment radio is. 485 00:28:49,440 --> 00:28:52,400 Speaker 2: I mean, we are creating culture every second of the day, 486 00:28:52,480 --> 00:28:55,240 Speaker 2: literally twenty four to seven, and when you recognize how 487 00:28:55,320 --> 00:28:59,240 Speaker 2: much content is being created for radio, it's a huge 488 00:28:59,240 --> 00:29:06,000 Speaker 2: wow factor. And so TikTok coming to iHeart to find 489 00:29:06,120 --> 00:29:10,280 Speaker 2: an additional platform to theirs, to be able to have 490 00:29:10,400 --> 00:29:14,360 Speaker 2: their influencers on is just the biggest testament and the 491 00:29:14,400 --> 00:29:18,880 Speaker 2: truest testament to the scale and relevancy that iHeart and 492 00:29:19,000 --> 00:29:22,800 Speaker 2: broadcast Radio brings to the world. And with that, you know, 493 00:29:22,840 --> 00:29:27,480 Speaker 2: the overall partnership breaking records like to your point, Bruno Mahers. 494 00:29:27,560 --> 00:29:29,960 Speaker 2: A few weeks before that was Madison Beer, which we 495 00:29:30,000 --> 00:29:34,520 Speaker 2: also debuted with TikTok. The immediate feedback was, TikTok has 496 00:29:34,640 --> 00:29:37,520 Speaker 2: never seen numbers like that, tune in numbers like that. 497 00:29:38,040 --> 00:29:41,239 Speaker 2: So we're breaking records with the power of TikTok and 498 00:29:41,240 --> 00:29:44,480 Speaker 2: iHeart together but like two of the largest scaled platforms 499 00:29:44,520 --> 00:29:48,440 Speaker 2: you can combine. So that's really an exciting proof point 500 00:29:48,520 --> 00:29:53,120 Speaker 2: of what we've just done and another testament to We 501 00:29:53,200 --> 00:29:57,320 Speaker 2: will be bringing influencers onto the radio to have them 502 00:29:57,480 --> 00:30:00,080 Speaker 2: speak to the world, to amplify their voices over the 503 00:30:00,080 --> 00:30:03,440 Speaker 2: the airwaves, be partnering them with some of our very 504 00:30:03,440 --> 00:30:09,000 Speaker 2: experienced radio personalities, potentially creating the next round of broadcast 505 00:30:09,120 --> 00:30:11,320 Speaker 2: radio influencers. I think this is going to be one 506 00:30:11,320 --> 00:30:14,720 Speaker 2: of the greatest partnerships and media of all time podcasting. 507 00:30:15,520 --> 00:30:19,640 Speaker 3: If Netflix is really sort of TV on demand, then 508 00:30:20,400 --> 00:30:24,720 Speaker 3: podcasting is most certainly radio on demand. How does podcasting 509 00:30:24,920 --> 00:30:28,160 Speaker 3: fit in the media landscape? It's the fastest growing new 510 00:30:28,200 --> 00:30:30,480 Speaker 3: media and by the way, it has more reach today 511 00:30:30,480 --> 00:30:33,920 Speaker 3: than the streaming music services. How does it help marketers 512 00:30:34,040 --> 00:30:34,680 Speaker 3: who use it? 513 00:30:35,360 --> 00:30:38,720 Speaker 2: Marketers are using podcasts in different ways, and they're all 514 00:30:39,440 --> 00:30:43,160 Speaker 2: great and serve their brands in different ways. One, you 515 00:30:43,360 --> 00:30:48,240 Speaker 2: have brands like IBM who want thought leadership create a 516 00:30:48,280 --> 00:30:54,400 Speaker 2: podcast slate that brings relevancy, content and information to their 517 00:30:54,400 --> 00:31:01,800 Speaker 2: clients minim CEOs, CFOs, CTOs CIOs that they're providing them 518 00:31:01,920 --> 00:31:04,880 Speaker 2: value in the content they're bringing them, they're educating them. 519 00:31:05,400 --> 00:31:07,840 Speaker 2: And when you think about if I said to you, Bob, 520 00:31:07,960 --> 00:31:10,640 Speaker 2: what brand do you think would host a podcast? IBM 521 00:31:10,680 --> 00:31:12,920 Speaker 2: wouldn't be the first that comes to mind, right, But 522 00:31:12,960 --> 00:31:15,880 Speaker 2: there are many B to B podcast sponsors and they 523 00:31:15,920 --> 00:31:18,800 Speaker 2: do it really well and it serves such a great 524 00:31:18,880 --> 00:31:22,520 Speaker 2: purpose for their business and their brands. My original background 525 00:31:22,600 --> 00:31:25,120 Speaker 2: is in advertising is very much B to B, so 526 00:31:25,640 --> 00:31:28,880 Speaker 2: content for those brands is important, and yet it's not 527 00:31:28,920 --> 00:31:31,360 Speaker 2: the typical consumer that you think about. And then you 528 00:31:31,440 --> 00:31:37,480 Speaker 2: have brands that are excited to surround the hosts themselves, 529 00:31:37,960 --> 00:31:42,720 Speaker 2: whether it be anyone from Charlemagne who's on the radio 530 00:31:42,800 --> 00:31:46,160 Speaker 2: and now has a podcast. The versatility that we're seeing 531 00:31:46,160 --> 00:31:50,040 Speaker 2: from podcasts is also really interesting. Podcasters who are now 532 00:31:50,040 --> 00:31:52,920 Speaker 2: in the radio radio host too, now are podcasters. It 533 00:31:53,040 --> 00:31:58,640 Speaker 2: really has become this three sixty experience, and brands want 534 00:31:58,720 --> 00:32:04,240 Speaker 2: to be associated with strong names and strong leaders, and 535 00:32:04,600 --> 00:32:08,760 Speaker 2: tying themselves to that has been a huge benefit in 536 00:32:08,840 --> 00:32:11,720 Speaker 2: so many ways. Then there's the events that come out 537 00:32:11,720 --> 00:32:14,040 Speaker 2: of it. You know, you have podcasters that show up 538 00:32:14,040 --> 00:32:17,040 Speaker 2: at events, and it provides just another leg to the 539 00:32:17,080 --> 00:32:19,400 Speaker 2: stool of what a brand can surround. 540 00:32:20,240 --> 00:32:23,280 Speaker 3: Before we end, I want to do a little bit 541 00:32:23,280 --> 00:32:26,320 Speaker 3: of advice. If you could go back in time, what 542 00:32:26,480 --> 00:32:28,920 Speaker 3: advice would you give your twenty one year old self. 543 00:32:29,560 --> 00:32:32,800 Speaker 2: My advice would be, always have strong mentors and always 544 00:32:32,840 --> 00:32:36,240 Speaker 2: have great bosses. Pick a job, taking your boss very 545 00:32:36,320 --> 00:32:40,239 Speaker 2: much into consideration of that job, and having mentors is 546 00:32:40,560 --> 00:32:41,760 Speaker 2: a huge benefit. 547 00:32:42,400 --> 00:32:46,280 Speaker 3: We end every episode of Math and Magic with a 548 00:32:46,360 --> 00:32:48,960 Speaker 3: shout out to the greats of Math and Magic, the 549 00:32:49,440 --> 00:32:52,120 Speaker 3: people who really achieve success because they sort of see 550 00:32:52,160 --> 00:32:55,080 Speaker 3: the world through analytics, see it through data or it's 551 00:32:55,120 --> 00:32:58,320 Speaker 3: an analytical experience, and the others are sort of those 552 00:32:58,400 --> 00:33:02,680 Speaker 3: wild show piece all the people who just figure out 553 00:33:02,720 --> 00:33:05,360 Speaker 3: how to make it exciting and had the wild creativity. 554 00:33:05,680 --> 00:33:07,720 Speaker 3: Who would you give your shout out to for the 555 00:33:07,760 --> 00:33:11,160 Speaker 3: best math person and the best magic person? 556 00:33:12,240 --> 00:33:14,840 Speaker 2: I think of two people who kind of got me 557 00:33:15,120 --> 00:33:19,280 Speaker 2: to where I am. One is Mike Schneider, who was 558 00:33:19,680 --> 00:33:23,960 Speaker 2: my boss at the Wall Street Journal, and funny enough, 559 00:33:24,200 --> 00:33:26,680 Speaker 2: I believe he's still the publisher of Fortune magazine that 560 00:33:26,720 --> 00:33:29,320 Speaker 2: has been for quite a few years. But he was 561 00:33:29,360 --> 00:33:31,640 Speaker 2: my mentor at one time. And when I called him 562 00:33:31,640 --> 00:33:34,120 Speaker 2: and told him when I was at LinkedIn that Amazon 563 00:33:34,160 --> 00:33:36,440 Speaker 2: had called me for a job and I said no, 564 00:33:36,560 --> 00:33:38,320 Speaker 2: I turned it down, he said, what are you crazy? 565 00:33:39,040 --> 00:33:41,840 Speaker 2: Except do you know how much data they have? This 566 00:33:41,880 --> 00:33:43,720 Speaker 2: is what makes me think about the math part. Right, 567 00:33:44,000 --> 00:33:46,320 Speaker 2: do you know how much data they have? This is 568 00:33:46,320 --> 00:33:49,320 Speaker 2: when Amazon Advertising didn't even exist at the time, And 569 00:33:49,400 --> 00:33:52,760 Speaker 2: so I gave my shout out to him for making 570 00:33:52,800 --> 00:33:57,200 Speaker 2: me realize the data and opportunity and the magic that 571 00:33:57,400 --> 00:34:01,000 Speaker 2: was there. And then that brings me to at Lisa Schneider, 572 00:34:01,040 --> 00:34:03,360 Speaker 2: who is our leader at Amazon at the time and 573 00:34:03,440 --> 00:34:08,680 Speaker 2: is now CEO of ias Integal ad Sciences. She was 574 00:34:08,880 --> 00:34:12,440 Speaker 2: a phenomenal leader. She has been my mentor throughout the years. 575 00:34:12,800 --> 00:34:15,800 Speaker 2: When I first got to loot me as a cro 576 00:34:16,239 --> 00:34:18,279 Speaker 2: it's owned by a PE company and I had to 577 00:34:18,360 --> 00:34:21,719 Speaker 2: present to PE and just different areas that I had 578 00:34:21,760 --> 00:34:26,520 Speaker 2: never played in. She really has been helpful in approaching 579 00:34:26,560 --> 00:34:29,400 Speaker 2: those things, and so that brings me back to like 580 00:34:29,520 --> 00:34:32,560 Speaker 2: really making sure that you have great mentors throughout your career. 581 00:34:33,320 --> 00:34:36,880 Speaker 3: That's great, Lisa, It is great having you aboard the 582 00:34:36,920 --> 00:34:39,720 Speaker 3: iHeart Journey with us. You know, when new people come aboard, 583 00:34:39,960 --> 00:34:41,560 Speaker 3: you never quite know if you're going to like us, 584 00:34:41,640 --> 00:34:42,880 Speaker 3: or we're gonna like you, or if it's going to 585 00:34:42,920 --> 00:34:46,200 Speaker 3: fit or whatever. It's been an incredible fit. And you 586 00:34:46,280 --> 00:34:49,920 Speaker 3: had just jumped right in and become core to our company. 587 00:34:50,080 --> 00:34:53,359 Speaker 3: And we're lucky to have you and appreciate your time today, 588 00:34:53,400 --> 00:34:55,880 Speaker 3: and thanks for sharing your stories and insights. 589 00:34:56,080 --> 00:34:57,920 Speaker 2: Well, thank you both. That means the world to me. 590 00:34:57,960 --> 00:34:59,000 Speaker 2: I really appreciate it. 591 00:35:01,080 --> 00:35:02,400 Speaker 3: Here are a few things I picked up from my 592 00:35:02,480 --> 00:35:06,760 Speaker 3: conversation with Lisa. Challenges are not a negative. I've observed 593 00:35:06,760 --> 00:35:10,399 Speaker 3: how level headed Lisa is even in stressful situations. After 594 00:35:10,480 --> 00:35:14,239 Speaker 3: our conversation, understand that she isn't phased by tough decisions 595 00:35:14,480 --> 00:35:17,520 Speaker 3: because she genuinely sees them as an opportunity to solve 596 00:35:17,520 --> 00:35:21,200 Speaker 3: a problem. Two, take the time to earn trust. Walking 597 00:35:21,239 --> 00:35:24,439 Speaker 3: to iHeart. As the new chief business officer, Lisa News 598 00:35:24,440 --> 00:35:27,239 Speaker 3: should be working with company veterans and they should have 599 00:35:27,360 --> 00:35:30,120 Speaker 3: to gain their confidence. But she realized a long time 600 00:35:30,200 --> 00:35:33,960 Speaker 3: ago that communication around this is necessary and trust has 601 00:35:34,000 --> 00:35:36,920 Speaker 3: to be earned, not just between a company and its clients, 602 00:35:37,080 --> 00:35:40,799 Speaker 3: but among colleagues as well. Three. No one can do 603 00:35:40,880 --> 00:35:44,600 Speaker 3: it alone. As hard as anyone person works, a company 604 00:35:44,640 --> 00:35:48,719 Speaker 3: requires collaboration. Lisa takes the time to zoom out and 605 00:35:48,840 --> 00:35:51,920 Speaker 3: really look at the ways different teams and departments depend 606 00:35:51,960 --> 00:35:56,120 Speaker 3: on each other. By comparing goals and setting shared objectives, 607 00:35:56,320 --> 00:35:59,880 Speaker 3: everyone can help take the business farder. I'm Bob Pittman. 608 00:36:00,080 --> 00:36:00,800 Speaker 3: Thanks for listening. 609 00:36:02,920 --> 00:36:05,800 Speaker 1: That's it for today's episode. Thanks so much for listening 610 00:36:05,800 --> 00:36:08,799 Speaker 1: to Math and Magic, a production of iHeart Podcasts. The 611 00:36:08,840 --> 00:36:11,439 Speaker 1: show is created and hosted by Bob Pittman. The Math 612 00:36:11,480 --> 00:36:15,080 Speaker 1: and Magic team is Ali Perry, Jessica Crinchich, and Dylan Hoyer. 613 00:36:15,440 --> 00:36:18,680 Speaker 1: Special thanks to Sidney Rosenbloom for booking and wrangling our 614 00:36:18,760 --> 00:36:21,959 Speaker 1: wonderful talent, which is no small feat. Until next time,