August 19, 2024 • 27 mins
On the latest episode of Burning Questions, Kris Foley, Metro President at iHeartMedia, discusses the power of audio and the benefits of leveraging their cross-platform marketing capabilities, including broadcast, live events, and data analytics. The result: increased brand awareness, the ability to grow and scale audiences, and ultimately – sales.
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(00:10):
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome back to Burning Questions.
It's a podcast from 500 Degrees and 500
Degrees is a digital content shop.
We have offices in Toronto, Miami, and of
course, Columbus, Ohio.
We specialize in digital transformation in the QSR
space.
We work with iconic brands, Firehouse Subs, Burger
(00:30):
King, Tim Hortons, and Popeyes.
We also work in the convenience store industry,
as well as the automotive space.
And if you want to learn more about
us, go to weare500degrees.com.
Click the link or follow a QR code
and you'll get there.
Our guest today is Chris Foley.
Now, Chris, you're the division president now.
Before, you know, when I met you, you
(00:50):
were the Metro president.
Now you're division president of iHeartRadio.
Thanks for coming on.
You know, you've got a great background in
terms of agency experience, sales experience, broadcast experience.
And I want to let our listeners know
a quick pro tip, which is if you
buy media, if you're an agency or you're
(01:13):
a client, run, don't walk, and get in
touch with Kristen or anybody at the iHeart
Studios and understand what they do for you.
It's beyond just spots and dots.
On the media side, they're actual great partners,
and they've been a great partner of ours
for a long time.
So welcome, Chris.
Tell us a little bit about your position
(01:34):
and what you're doing now, and we'll just
lean in and see where we go from
there.
Absolutely.
So I have been blessed to continue to
be promoted within iHeart, and I love the
fact that our company recognizes leaders that are
just naturally curious and want to help and
do good.
So I get to coach teams in multiple
markets now, still based in Columbus.
(01:56):
But when you look at the iHeart model,
we can help clients anywhere in the U
.S., even expanding internationally now.
And so now I get to coach even
more teams and work with more clients to
help them really harness the power of audio.
And it's a very misunderstood space.
You'd be surprised.
The World Advertising Research Council, the people who
put on Khan, they did a study, and
(02:17):
they found that consumers are spending 31%
of their time with media and audio, but
yet less than 10% is currently invested
in there.
So part of my job is to really
evangelize and explain how audio is a little
bit different, these impressions hit differently, and to
coach our teams on how to be curious
and have really thoughtful conversations to bring solutions
(02:39):
to opportunities and challenges.
And I get to do that every day.
Now you guys have a group that works
specifically with either clients or agencies, but it's
beyond just a plan and buy.
Walk me through, and our listeners, through what
you do because it's fascinating.
You've helped a number of our agencies at
eSport Holdings as well, but the ability for
(03:01):
you guys to go shoulder to shoulder and
grind with us on a client problem or
an RFP, whatever we're working on.
Walk me through that.
Sure.
So we have a division called Unified Partnerships,
and they are a team of absolute mavericks.
And that's the best way to describe them
as marketing mavericks that love to work with
big idea-centric agencies.
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We partner, we collaborate, we figure out where
our strengths are and we support each other,
and we go out and win business together.
We hold ourselves highly accountable to returning on
ad spend, and with their portfolio and their
ability to really look at case studies from
countless clients across the United States, we can
bring in and say this is proof it's
(03:42):
going to work.
And they're just a very curious, thoughtful team
and they work with our best partners to
really think outside the box.
Usually one-channel marketing doesn't work.
You need to have a cross-platform approach
and you need to be aligned and everybody
needs to win together, especially the client.
So they're a thoughtful team and I think
(04:03):
it's really revolutionary.
And I love some of the successes we've
built together so far.
Yeah, it's great.
And shout out to everybody that's helped us
in eSport and can't wait to do more.
And is behind the mic, so that was
an event that you threw, I think, was
it in Cleveland?
Yeah.
You guys do this nationally.
We do.
I would imagine.
Tell me about behind the mic because it
(04:24):
really feeds into what we're doing today on
a podcast, but it's also why people are
interested in the audio business, particularly this form
of entertainment.
Sure.
So behind the mic is a series of
client summits to really educate them on the
host experience, whether it's our on-air hosts
or all the hosts that we have in
podcasts and from their perspective, what types of
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marketing works and what doesn't.
So we go and we do this tour.
People are very curious to learn about podcasting
because a lot of people feel it's still
emerging.
When you think about it, podcasting is no
longer an emerging media.
It is officially here, especially when you look
at the data where 50% of adults
are now listening to podcasts.
When you even dial into those really tough
(05:08):
to reach emerging adults, I like to call
them those 25 to 34 year olds, that
number jumps to 42% of them listening
daily.
That's a massive stat.
So it's there and I think what we've
found is that people really want to connect
to the best individuals that they identify with.
The top two reasons that people listen to
podcasts are to learn something or to feel
(05:30):
a part of something.
And that makes it a very engaged environment.
So people are curious to see how our
model works, what's happening in the space and
they need a company they can trust.
Sometimes people feel like some of the emerging
media, whether it's podcasting or OTT, it feels
a little bit like the wild, wild west.
And you want to work with someone who
is a publisher and a platform who can
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really think dynamically of how you can harness
it.
And so you don't have to work with
hundreds of people.
You can actually work with a trusted company.
And iHeart has really jumped into this space,
you know, with both feet forward.
And it goes back to that companionship, which
is, you know, when you think about it,
you know, the on-air hosts from our
radio shows across the country, they were the
original social influencers, but they were social audio
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influencers.
And then we found that, you know, we
want to put this content everywhere, but people
have very busy schedules these days.
So being able to put that human scripted
content on demand is what podcasting is.
So it's natural that we, a company that's
very, very strong in human scripted content, live
content would then say, Hey, you know what?
(06:35):
We're onto something.
Let's make this content on demand.
So we educate clients across the country with
these tours, just let them know what's there
and what's available to harness.
I want to go to the next one.
So when you have it, give me an
invite.
I don't care where we're in the country.
Let me go.
What is the, like one of your top
stars on the podcast system that you've got?
Well, we actually have a hundred titles with
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more than, with more than a million monthly
downloads.
It's, it's, it's a pretty vast network.
The top ones, you know, stuff you should
know, the OGs and you'll learn something every
new, every time you listen to one of
these shows.
And I think that's why they're so engaging.
So that's a top show.
Pushkin has a whole, whole slate of podcasts
with us.
I listen to Jay Shetty all the time.
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I feel like he's my personal coach.
And I love that because when I'm running
a very busy schedule, but I also want
to work on myself as a human being,
I tune to him.
His healthier mind podcast is absolutely incredible.
Then we have like the whole entire NFL
slate.
We have the black effect podcast network.
We have the outspoken podcast network that's led
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up by Lance Bass.
You name it, they're there.
We also take all of our radio shows
and we put them in a podcast form
so we can meet the listener where they
are with their schedule.
So the Dan Patrick podcast is one of
our largest cowherds podcast.
It's pretty cool.
Yeah.
So, but we also, he's so down to
earth.
He's a cool guy.
(08:02):
So on the marketing ecosystem behind each one
of the podcasts, so obviously you have to
reach out and use all social platforms in
order to build an audience and to tease
and to push.
Does the individual star do that?
Or does iHeart supply that as well as
part of the service behind the podcast promotion?
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So when it's both, I always say you
can have the best party ever, but if
you never send out the invites, no one
knows it happened.
So one of the cool things about our
structure is because we reach 89% of
America with our broadcast properties, we're able to
tease the content that we feel like will
resonate for each of the podcasts that we
launched.
So it is full service.
(08:45):
We have our on-air teams talking about
it.
We introduced the host and there's a whole
digital matrix behind.
So when you start to look at someone
who's listening to one type of podcast, you
can then suggest the next one.
So we advertise our podcasts and our podcast
doesn't sound crazy, but it makes a lot
of sense.
And so, you know, because we find that
the average person, once they start listening, they
(09:05):
start to binge listen.
So it's just once they have that first
experience, they're like, I really like how this
feels.
And when it comes down to it, people
crave human companionship.
And I think we learned in COVID that
a lot of times people were missing that
friend, that guidance.
And when you actually look at the podcast
space, it is very intimate.
(09:26):
You know, we're listening often on earbuds.
So you have a chance to get to
somebody who's actually in a state where you
can get straight to their brain as opposed
to having to deal with scrolling and all
sorts of other things.
How did you guys keep it alive during
COVID?
Well, that's when it really boomed because think
about it.
We were all sitting in our homes, feeling
extremely isolated.
And that human content, it's the number one
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thing that makes a brainwave flex is the
human voice.
So we realized when the pandemic happened, that's
when this whole rapid adoption started to engage
and it's only gone up since.
That's great.
You guys have a great model for it.
Yeah.
And speaking of great models.
So the iHeart experience to me, you have
huge national events.
(10:09):
Sure.
You've got your own theater in Los Angeles.
Yes.
And then you also bring it down to
the local level.
I think it's something like 350 massive events
that you guys do.
So we actually do 20,000 events a
year.
That was a softball.
Thank you.
But that is something when you think about
(10:29):
it, so we were all sequestered in COVID.
And then all of a sudden live is
back and people want to experience.
And when you look at today's young American,
they crave experiences more than gifts.
And so having that experience of being around
like-minded people at these events and seeing
unstoppable moments, things that you can't purchase, but
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you have to experience live is back.
So from our temple events, we've been able
to bring a lot of people together.
We've been able to bring a lot of
artists together.
We've been able to bring a lot of
artists that have even more brand awareness than
Coachella.
When you think about like the iHeart Radio
Music Festival, the iHeart Country Festival, Fiesta Latina,
the Alt Ego Festival, all these places are
a great chance to bring people together, to
see a collection of artists that they could
(11:11):
never afford to see individually.
Think about the price of the average ticket.
It's expensive.
So, but if you can bring a number
of acts together, I absolutely love the endorphins
that come out from being in the audiences
of any of those shows.
You know, so we've got CMAs coming up.
Yeah.
Who do you think is going to be
(11:32):
a big walkaway winner?
Do you think Jelly is going to roll?
I think Jelly has, he's going to roll.
I think one of the things I love
about him is he's such a down to
earth, good person.
And I think he's going to run away
with it all.
I think he has, he crosses some genres.
He's brought a lot of people into the
country music area.
(11:55):
And I just think he's somebody who is
really in touch with America, which is important.
That's what fans want to be.
Fans lean into people that they can relate
to.
And I think he's one of the most
relatable artists that's out there right now.
Yeah, it's interesting.
You know, the tagline, if I had to
write one, it would be everything's better with
Jelly on it.
Then you've got Morgan, who just recently had
(12:18):
an interesting experience in Nashville, but it's probably
his best year in terms of performance.
So I want to talk a little bit
about what's next.
So, you know, the term AI, artificial intelligence,
human intelligence, what's happening either behind the scenes
at iHeart or, you know, with your audiences,
(12:40):
with your planning, with your programmatic, walk me
through how that's going to enhance what you
guys offer clients and customers.
Yeah.
So I think one of the biggest areas
where we're using AI is through our partnership
with Sounder.
So we're able to now transcribe every single
episode of a podcast.
And when you think about the ad tech,
(13:01):
so iHeart purchased Triton Digital a few years
ago, and we've been able to build a
full audio tech stack behind our offerings, which
is allows us to really identify who the
audience is, who the audiences are and what
type of content is going to be relevant
with them.
So from the Sounder partnership, when we transcribe
these podcasts, we now can immediately put them
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in different languages and have voices actually deliver
that content.
So if you want to listen, you know,
to any of the big money player comedy
episodes, but you, you know, English is not
your native language.
You, you can now listen in whatever language
you need to have it translated to.
So I love that.
The other thing from a marketing perspective is
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we're, we're taking that catalog of content from
each episode and we're pulling out keywords of
topics they're discussing.
For example, we talked about the stuff you
should know podcasts.
There may be an episode where they're talking
about how to, how to make smart investments,
right?
Well, that might not be their topics all
the time, but we can now dynamically insert
information from an advertiser on financial planning into
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the episodes, um, that talk about those, those
subject matters.
So we talk about that contextual relevancy and
how important it is.
That's another way that we're using AI.
Can we do that for Burger King, Tim
Hortons, Popeye's or Firehouse subs?
The answer is yes.
The answer is yes.
And you know, when we think about QSR,
I know we're talking a lot about podcasting
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because it is a very intimate space.
Radio is still the last thing that 75
% of consumers are exposed to before they
go to a brick and mortar location.
And that's why we see the QSR category
doing so well with good old fashioned trusted
radio.
I'm going to, I'm going to challenge you
here on an obscure concept, but the let's
(14:51):
take the convenience store industry, for example, the
move right now in digital transformation from, from
printed materials, from the pump all the way
into the cash wrap to digital screens.
They, anybody that cumes a half a billion
of impressions on an annual basis now considers
themselves as a retailer.
(15:12):
They consider themselves as a media platform.
is there going to be a convergence of
people that reach micro audiences, target audiences through
a convenience store media platform, meaning that eyeballs
walk into the store and they get exposure
to some of the advertising platforms that you
(15:32):
have.
Do we see that or could you see
that as a convergence opportunity for iHeart?
I think it's, I think that that's actually
a brilliant tactic to a multi-layered strategy.
I mean, if you're using someone's actual shopping
behavior and where they are to meet them
with a message that is relevant, I think
it makes sense.
But I think you're also pointing to the
(15:52):
fact that, you know, there is a lot
of fragmentation in media as a whole.
So I think it becomes more and more
important to really work with a strategic partner
that can look at the bigger picture and
not asset bomb you for lack of a
better word.
So I think, and I think so many
times that's the biggest failure that we have
is we're like, we should do this.
We should do that.
Everything should work together.
(16:13):
So using that technology I think makes a
ton of sense.
I also think what some of the things
that we're doing to use beacon technology to
study shopping behaviors allows us to then serve
ads to someone because they have been in
a location that that physical shopping behavior is
one of the best predictors that a consumer
could be in the market for your product.
So let's use that.
(16:34):
And there are ways that we can use
that through mobile device technology and advertising through
our platform.
That's just one of the extra things that
we do.
You guys can handle attribution.
So if we, we buy a package on
iHeart traffic driving, some kind of promotional event
for a QSR, an automotive dealer, a convenience
store, we can actually attribute retail visits to
(17:00):
the push of your programming or at least
somebody who's a listener.
Boom, they come in and then we could
probably market back to them for increased visits,
frequency, loyalty programming, you name it.
I mean, I think there's something there that
we should work on.
There is.
And I think it goes back to the
loyalty factor, right?
So it's about having strategic conversations about where
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those opportunities are.
And when you have audiences of our sizes,
you're able to do a lot of targeting,
but also influence the influencer.
I think as marketers, because we have so
much data on the consumer, sometimes we're honing
in a lot on our target consumer.
But when you look at most industries, their
targeted customer only represents about 40% of
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their total customer base.
And when you look at the American consumer,
only 18% of Americans actually say, nobody
influences my decision.
That means 82% do.
So there is this, this importance of reaching
people at the right moments at the masses,
because people trust recommendations from friends.
So if you can be, make your brand
top of mind with individuals, you're going to
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influence the everyday influencer who might be a
sister, friend, coworker, a loved one who is
like, I really think you should take advantage
of this.
So I think we have, we're a little
bit of a crossroads where we have to
kind of look at like what Procter and
Gamble did.
You know, they went heavy into digital and
I'm not saying digital is bad.
I think digital is such an important thing
and area, but I think we have to
(18:27):
take a step back and say, you know,
where are our brands and what do people
think about them?
Procter and Gamble realized they had a problem
when people didn't know what a Kleenex was
anymore.
They called it a tissue.
And when I grew up, you never called,
it was, it was always called a Kleenex.
And so they took a step back and
they looked at their marketing and they looked
at their media modeling.
And, you know, I know a lot of
(18:48):
people say, Hey, I don't have Procter and
Gamble's budget.
So why are we talking about this?
You probably don't, but the reality is you
also then don't have the budget to study
how marketing works and they study it so
extensively.
And they've seen such an impact by adding
radio, podcasting, audio back into the fold in
a major level.
They've been able to cut overall investments and
(19:09):
have record-breaking sales.
That's great.
And they support the retail environment.
What kind of push do you see from
like retail media has absolutely exploded in terms
of, it's almost like the new co-op
and vendor relationship where a majority of dollars
are starting to swing over.
Do you guys have any partnerships with, let's
(19:30):
say Walmart or Target, anybody that operates their
own in-house retail media system?
So right now I'm not aware that we
do have those partnerships, but I will tell
you, we have a whole division that focuses
on this and if it doesn't exist now,
I know we work very closely with Walmart.
It wouldn't surprise me if that's something that's
coming very soon with iHeart.
(19:51):
But I think retail media makes sense.
One of the hardest things to do is
to get the consumer into your store.
So once you've gotten them there, finding ways
that you can personalize the experience for them
and make the shopping easier through retail media,
I think it makes sense.
I think it would be something that we
have to make sure that someone first gets
there.
(20:11):
And that's where the bigger audio play I
believe truly is.
But I think it's smart to look at
that.
Can you give us a peek behind the
curtain in terms of your last planning session
with all the executives?
What's coming up in the future?
What is a mind-blowing thought that comes
out of your leadership team in terms of
where you guys are taking?
(20:32):
Because you've already just reinvented audio.
What are you doing next?
Well, I think that's something that's kind of
important to note.
We disrupted ourselves a long time ago.
And I give Bob Pittman, our CEO, so
much credit.
He started MTV.
He is one of the most amazing visionaries.
It is truly inspiring to work with him.
I was on a call with him yesterday.
(20:53):
And his vision is really to continue to
innovate, to continue to use AI to put
our content in different languages.
He is so committed to giving diverse voices
a bigger microphone.
And when I say committed, more than 50
% of all the investing that we're doing
into new programming is to give women, to
give black audiences, Hispanic audiences a bigger microphone.
(21:16):
So that's all the content that we're investing
into.
And I'm so proud of that commitment.
Not to just say that diversity and equity
and inclusion matters, but to actually put your
money where your mouth is and create these
amazing suites of content to make sure that
our content can be available everywhere to any
language, that's important.
(21:36):
I think the biggest thing that we're going
to focus on is helping marketers understand audio.
Because like I said, well, again, it's different.
I'll give you an example.
So I'm going to say something to you
and I want your reaction.
Okay.
I'm going to say the words candy in
the grand Canyon.
What does it look?
Yep.
What does it look like?
It looks like candy crush the game.
(21:59):
Okay.
Very cool.
That's what I got.
Great.
Now you're like, why is she asking me
this question?
I'm going to get to it, but I
think it's a really important thing.
My candy in the grand Canyon looks very
different.
I have jelly beans on the first roll.
I have smarties organized by color about halfway
up.
And I guarantee you, everybody who's listening to
(22:19):
this podcast is now imagining candy in the
grand Canyon.
Now, if I showed you an image, a
visual of candy in the grand Canyon, it
doesn't make your brain have to get involved.
It's a passive type of an impression.
And obviously if it's something that appeals to
you, you're all in, but with audio, you
get to make this hyper personal because I
(22:40):
just use my imagination.
And I think that's why audio impressions generate
such a response.
In fact, dense you did a study recently
with Lumen and they found that audio actually
generates a 55% higher attention per second
rate than social digital and television.
And I think it's because you have to
make it relevant to me.
(23:01):
And then it's hyper personal.
So that candy in the grand Canyon experiment,
I guarantee you, everyone's thinking of it differently.
And that's how audio hits the consumer and
how it's, how it's so impactful to engage
them.
Well, I like the idea that you organize
your smarties by color.
I mean, and they're rainbow.
I mean, I'm actually very honest, but the
jelly beans on the bottom, I don't know
(23:21):
why they were there, but they were there.
But I just think when you paint that
picture and you storytell, it really takes you
to a hyper personal space.
So you obviously have a bustling career.
What do you do outside?
What kind of philanthropies are you involved with?
What do you do to sort of strengthen
that, that heart side of the I heart
(23:43):
president?
So I'm on the board of Ohio for
St. Jude's.
In fact, we have a fundraising event tonight,
very passionate about that charity.
I've had people I've had friends very much
touched by childhood cancers and how much they
have absolutely evangelized care and changed it to
the point where research wasn't happening in that
(24:04):
space.
And now the outcomes are so much better.
So I'm very proud of that.
I work with the Columbus symphony here just
was at a gala for, with them last,
last, last Saturday.
I get involved wherever we can.
I usually follow the lead of my employees.
I find it that if they're passionate about
a product, then we're going to get all
behind it and work together, whether it's radio
thons, we're doing a celebrity softball game coming
(24:27):
up here with new kids on the block.
Imagine like rock and jocks.
So our team here in Columbus is doing
a celebrity softball game.
It's the gosh, I think it's your four.
We've raised money for nationwide children's hospital for
mental health because that is some, an area
where we're just, we cannot possibly invest more
in helping the mental wellbeing of our, our
(24:48):
children, especially our teens.
And I'm so proud of what nationwide children's
hospital is doing here.
So we do a fundraiser for them.
But if you follow your team and you,
and you support the things that they support,
it gives you a three 50, a three
60 impact.
Well, give us an idea of how we
can get in touch.
Talk to Jennifer, our producer and tell us
(25:08):
how we can get involved in and support
what you're doing.
Cause we really appreciate your visit today.
Is there anything, is there anything on your
reading list besides more podcasts to listen to
or to do this?
Is there anything from a business point of
view or I don't care, nonfiction fictions, just
tell us a little bit about what's on
your bedside table.
The book I'm reading right now that I
love for leaders.
(25:28):
It's called be the unicorn and it's 12
simple leadership approaches that you can do.
And they're not hard.
I sometimes you read these books and you're
like, this is amazing, but when will I
have time to actually activate this?
I think it's an amazing book.
It's a times bestseller, but it's an easy
read because it just draws you in.
But it talks about just that, that the
(25:48):
types of things as a leader you have
to do to be really present.
I consider myself to be a humble leader.
I, I work for my team and I
mean that it's not just a word I
dig in.
I help with problems.
And this book is really good at kind
of helping you explain, helping you understand exactly
where you need to put your, your best
priorities to really thrive and grow.
(26:09):
So that's that.
And then I actually, I have three kids
that keep me like super busy.
I, I love that my work and my
life integrate.
I won't call it a balance, but my
kids understand what I do.
And I hope my daughters in particular, see
that you can, you can do anything you
want if you're really willing to, to dive
in and work hard.
That's inspiring.
And I appreciate you being here today.
How can people get in touch with you?
(26:30):
How do they, how do they touch base
with Chris Foley?
So follow me on LinkedIn.
I would love to connect that way.
It's Chris Foley.
I heart media DM me.
I will get in touch with you.
We are here to help.
They can work through you.
I'd, I'd love to partner with 500 degrees.
I think you guys bring so many smart
ideas to the table and anything we can
all do together.
I know it's going to rock.
(26:51):
Love it.
Great.
Well, this is burning questions from 500 degrees.
We really appreciate you being here.
I want to thank fallback studios for hosting
us today.
Our producer, Jennifer Hagren and our writer, Joe
Stuber.
But with that, we're out of here and
goodbye.
Bye.
Bye.
On the next episode of burning questions, your
(27:13):
price is right.
Or is it, are you underselling your company?
Are you bidding yourself out of business opportunities?
Well, on the next episode, Tracy Shirtcliff founder
and CEO of scope, better joins me to
help all of us find the sweet spot
of selling clients on your value and how
to maximize profits in the process.
What we need to be doing is showing
the value that we're, that we're delivering.
(27:35):
That's that's the magic.
It's coming up on the next burning questions.
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome back to Burning Questions.
It's a podcast from 500 Degrees and 500
Degrees is a digital content shop.
We have offices in Toronto, Miami, and of
course, Columbus, Ohio.
We specialize in digital transformation in the QSR
space.
We work with iconic brands, Firehouse Subs, Burger
(00:30):
King, Tim Hortons, and Popeyes.
We also work in the convenience store industry,
as well as the automotive space.
And if you want to learn more about
us, go to weare500degrees.com.
Click the link or follow a QR code
and you'll get there.
Our guest today is Chris Foley.
Now, Chris, you're the division president now.
Before, you know, when I met you, you
(00:50):
were the Metro president.
Now you're division president of iHeartRadio.
Thanks for coming on.
You know, you've got a great background in
terms of agency experience, sales experience, broadcast experience.
And I want to let our listeners know
a quick pro tip, which is if you
buy media, if you're an agency or you're
(01:13):
a client, run, don't walk, and get in
touch with Kristen or anybody at the iHeart
Studios and understand what they do for you.
It's beyond just spots and dots.
On the media side, they're actual great partners,
and they've been a great partner of ours
for a long time.
So welcome, Chris.
Tell us a little bit about your position
(01:34):
and what you're doing now, and we'll just
lean in and see where we go from
there.
Absolutely.
So I have been blessed to continue to
be promoted within iHeart, and I love the
fact that our company recognizes leaders that are
just naturally curious and want to help and
do good.
So I get to coach teams in multiple
markets now, still based in Columbus.
(01:56):
But when you look at the iHeart model,
we can help clients anywhere in the U
.S., even expanding internationally now.
And so now I get to coach even
more teams and work with more clients to
help them really harness the power of audio.
And it's a very misunderstood space.
You'd be surprised.
The World Advertising Research Council, the people who
put on Khan, they did a study, and
(02:17):
they found that consumers are spending 31%
of their time with media and audio, but
yet less than 10% is currently invested
in there.
So part of my job is to really
evangelize and explain how audio is a little
bit different, these impressions hit differently, and to
coach our teams on how to be curious
and have really thoughtful conversations to bring solutions
(02:39):
to opportunities and challenges.
And I get to do that every day.
Now you guys have a group that works
specifically with either clients or agencies, but it's
beyond just a plan and buy.
Walk me through, and our listeners, through what
you do because it's fascinating.
You've helped a number of our agencies at
eSport Holdings as well, but the ability for
(03:01):
you guys to go shoulder to shoulder and
grind with us on a client problem or
an RFP, whatever we're working on.
Walk me through that.
Sure.
So we have a division called Unified Partnerships,
and they are a team of absolute mavericks.
And that's the best way to describe them
as marketing mavericks that love to work with
big idea-centric agencies.
(03:22):
We partner, we collaborate, we figure out where
our strengths are and we support each other,
and we go out and win business together.
We hold ourselves highly accountable to returning on
ad spend, and with their portfolio and their
ability to really look at case studies from
countless clients across the United States, we can
bring in and say this is proof it's
(03:42):
going to work.
And they're just a very curious, thoughtful team
and they work with our best partners to
really think outside the box.
Usually one-channel marketing doesn't work.
You need to have a cross-platform approach
and you need to be aligned and everybody
needs to win together, especially the client.
So they're a thoughtful team and I think
(04:03):
it's really revolutionary.
And I love some of the successes we've
built together so far.
Yeah, it's great.
And shout out to everybody that's helped us
in eSport and can't wait to do more.
And is behind the mic, so that was
an event that you threw, I think, was
it in Cleveland?
Yeah.
You guys do this nationally.
We do.
I would imagine.
Tell me about behind the mic because it
(04:24):
really feeds into what we're doing today on
a podcast, but it's also why people are
interested in the audio business, particularly this form
of entertainment.
Sure.
So behind the mic is a series of
client summits to really educate them on the
host experience, whether it's our on-air hosts
or all the hosts that we have in
podcasts and from their perspective, what types of
(04:46):
marketing works and what doesn't.
So we go and we do this tour.
People are very curious to learn about podcasting
because a lot of people feel it's still
emerging.
When you think about it, podcasting is no
longer an emerging media.
It is officially here, especially when you look
at the data where 50% of adults
are now listening to podcasts.
When you even dial into those really tough
(05:08):
to reach emerging adults, I like to call
them those 25 to 34 year olds, that
number jumps to 42% of them listening
daily.
That's a massive stat.
So it's there and I think what we've
found is that people really want to connect
to the best individuals that they identify with.
The top two reasons that people listen to
podcasts are to learn something or to feel
(05:30):
a part of something.
And that makes it a very engaged environment.
So people are curious to see how our
model works, what's happening in the space and
they need a company they can trust.
Sometimes people feel like some of the emerging
media, whether it's podcasting or OTT, it feels
a little bit like the wild, wild west.
And you want to work with someone who
is a publisher and a platform who can
(05:52):
really think dynamically of how you can harness
it.
And so you don't have to work with
hundreds of people.
You can actually work with a trusted company.
And iHeart has really jumped into this space,
you know, with both feet forward.
And it goes back to that companionship, which
is, you know, when you think about it,
you know, the on-air hosts from our
radio shows across the country, they were the
original social influencers, but they were social audio
(06:14):
influencers.
And then we found that, you know, we
want to put this content everywhere, but people
have very busy schedules these days.
So being able to put that human scripted
content on demand is what podcasting is.
So it's natural that we, a company that's
very, very strong in human scripted content, live
content would then say, Hey, you know what?
(06:35):
We're onto something.
Let's make this content on demand.
So we educate clients across the country with
these tours, just let them know what's there
and what's available to harness.
I want to go to the next one.
So when you have it, give me an
invite.
I don't care where we're in the country.
Let me go.
What is the, like one of your top
stars on the podcast system that you've got?
Well, we actually have a hundred titles with
(06:58):
more than, with more than a million monthly
downloads.
It's, it's, it's a pretty vast network.
The top ones, you know, stuff you should
know, the OGs and you'll learn something every
new, every time you listen to one of
these shows.
And I think that's why they're so engaging.
So that's a top show.
Pushkin has a whole, whole slate of podcasts
with us.
I listen to Jay Shetty all the time.
(07:18):
I feel like he's my personal coach.
And I love that because when I'm running
a very busy schedule, but I also want
to work on myself as a human being,
I tune to him.
His healthier mind podcast is absolutely incredible.
Then we have like the whole entire NFL
slate.
We have the black effect podcast network.
We have the outspoken podcast network that's led
(07:39):
up by Lance Bass.
You name it, they're there.
We also take all of our radio shows
and we put them in a podcast form
so we can meet the listener where they
are with their schedule.
So the Dan Patrick podcast is one of
our largest cowherds podcast.
It's pretty cool.
Yeah.
So, but we also, he's so down to
earth.
He's a cool guy.
(08:02):
So on the marketing ecosystem behind each one
of the podcasts, so obviously you have to
reach out and use all social platforms in
order to build an audience and to tease
and to push.
Does the individual star do that?
Or does iHeart supply that as well as
part of the service behind the podcast promotion?
(08:24):
So when it's both, I always say you
can have the best party ever, but if
you never send out the invites, no one
knows it happened.
So one of the cool things about our
structure is because we reach 89% of
America with our broadcast properties, we're able to
tease the content that we feel like will
resonate for each of the podcasts that we
launched.
So it is full service.
(08:45):
We have our on-air teams talking about
it.
We introduced the host and there's a whole
digital matrix behind.
So when you start to look at someone
who's listening to one type of podcast, you
can then suggest the next one.
So we advertise our podcasts and our podcast
doesn't sound crazy, but it makes a lot
of sense.
And so, you know, because we find that
the average person, once they start listening, they
(09:05):
start to binge listen.
So it's just once they have that first
experience, they're like, I really like how this
feels.
And when it comes down to it, people
crave human companionship.
And I think we learned in COVID that
a lot of times people were missing that
friend, that guidance.
And when you actually look at the podcast
space, it is very intimate.
(09:26):
You know, we're listening often on earbuds.
So you have a chance to get to
somebody who's actually in a state where you
can get straight to their brain as opposed
to having to deal with scrolling and all
sorts of other things.
How did you guys keep it alive during
COVID?
Well, that's when it really boomed because think
about it.
We were all sitting in our homes, feeling
extremely isolated.
And that human content, it's the number one
(09:48):
thing that makes a brainwave flex is the
human voice.
So we realized when the pandemic happened, that's
when this whole rapid adoption started to engage
and it's only gone up since.
That's great.
You guys have a great model for it.
Yeah.
And speaking of great models.
So the iHeart experience to me, you have
huge national events.
(10:09):
Sure.
You've got your own theater in Los Angeles.
Yes.
And then you also bring it down to
the local level.
I think it's something like 350 massive events
that you guys do.
So we actually do 20,000 events a
year.
That was a softball.
Thank you.
But that is something when you think about
(10:29):
it, so we were all sequestered in COVID.
And then all of a sudden live is
back and people want to experience.
And when you look at today's young American,
they crave experiences more than gifts.
And so having that experience of being around
like-minded people at these events and seeing
unstoppable moments, things that you can't purchase, but
(10:50):
you have to experience live is back.
So from our temple events, we've been able
to bring a lot of people together.
We've been able to bring a lot of
artists together.
We've been able to bring a lot of
artists that have even more brand awareness than
Coachella.
When you think about like the iHeart Radio
Music Festival, the iHeart Country Festival, Fiesta Latina,
the Alt Ego Festival, all these places are
a great chance to bring people together, to
see a collection of artists that they could
(11:11):
never afford to see individually.
Think about the price of the average ticket.
It's expensive.
So, but if you can bring a number
of acts together, I absolutely love the endorphins
that come out from being in the audiences
of any of those shows.
You know, so we've got CMAs coming up.
Yeah.
Who do you think is going to be
(11:32):
a big walkaway winner?
Do you think Jelly is going to roll?
I think Jelly has, he's going to roll.
I think one of the things I love
about him is he's such a down to
earth, good person.
And I think he's going to run away
with it all.
I think he has, he crosses some genres.
He's brought a lot of people into the
country music area.
(11:55):
And I just think he's somebody who is
really in touch with America, which is important.
That's what fans want to be.
Fans lean into people that they can relate
to.
And I think he's one of the most
relatable artists that's out there right now.
Yeah, it's interesting.
You know, the tagline, if I had to
write one, it would be everything's better with
Jelly on it.
Then you've got Morgan, who just recently had
(12:18):
an interesting experience in Nashville, but it's probably
his best year in terms of performance.
So I want to talk a little bit
about what's next.
So, you know, the term AI, artificial intelligence,
human intelligence, what's happening either behind the scenes
at iHeart or, you know, with your audiences,
(12:40):
with your planning, with your programmatic, walk me
through how that's going to enhance what you
guys offer clients and customers.
Yeah.
So I think one of the biggest areas
where we're using AI is through our partnership
with Sounder.
So we're able to now transcribe every single
episode of a podcast.
And when you think about the ad tech,
(13:01):
so iHeart purchased Triton Digital a few years
ago, and we've been able to build a
full audio tech stack behind our offerings, which
is allows us to really identify who the
audience is, who the audiences are and what
type of content is going to be relevant
with them.
So from the Sounder partnership, when we transcribe
these podcasts, we now can immediately put them
(13:22):
in different languages and have voices actually deliver
that content.
So if you want to listen, you know,
to any of the big money player comedy
episodes, but you, you know, English is not
your native language.
You, you can now listen in whatever language
you need to have it translated to.
So I love that.
The other thing from a marketing perspective is
(13:42):
we're, we're taking that catalog of content from
each episode and we're pulling out keywords of
topics they're discussing.
For example, we talked about the stuff you
should know podcasts.
There may be an episode where they're talking
about how to, how to make smart investments,
right?
Well, that might not be their topics all
the time, but we can now dynamically insert
information from an advertiser on financial planning into
(14:06):
the episodes, um, that talk about those, those
subject matters.
So we talk about that contextual relevancy and
how important it is.
That's another way that we're using AI.
Can we do that for Burger King, Tim
Hortons, Popeye's or Firehouse subs?
The answer is yes.
The answer is yes.
And you know, when we think about QSR,
I know we're talking a lot about podcasting
(14:28):
because it is a very intimate space.
Radio is still the last thing that 75
% of consumers are exposed to before they
go to a brick and mortar location.
And that's why we see the QSR category
doing so well with good old fashioned trusted
radio.
I'm going to, I'm going to challenge you
here on an obscure concept, but the let's
(14:51):
take the convenience store industry, for example, the
move right now in digital transformation from, from
printed materials, from the pump all the way
into the cash wrap to digital screens.
They, anybody that cumes a half a billion
of impressions on an annual basis now considers
themselves as a retailer.
(15:12):
They consider themselves as a media platform.
is there going to be a convergence of
people that reach micro audiences, target audiences through
a convenience store media platform, meaning that eyeballs
walk into the store and they get exposure
to some of the advertising platforms that you
(15:32):
have.
Do we see that or could you see
that as a convergence opportunity for iHeart?
I think it's, I think that that's actually
a brilliant tactic to a multi-layered strategy.
I mean, if you're using someone's actual shopping
behavior and where they are to meet them
with a message that is relevant, I think
it makes sense.
But I think you're also pointing to the
(15:52):
fact that, you know, there is a lot
of fragmentation in media as a whole.
So I think it becomes more and more
important to really work with a strategic partner
that can look at the bigger picture and
not asset bomb you for lack of a
better word.
So I think, and I think so many
times that's the biggest failure that we have
is we're like, we should do this.
We should do that.
Everything should work together.
(16:13):
So using that technology I think makes a
ton of sense.
I also think what some of the things
that we're doing to use beacon technology to
study shopping behaviors allows us to then serve
ads to someone because they have been in
a location that that physical shopping behavior is
one of the best predictors that a consumer
could be in the market for your product.
So let's use that.
(16:34):
And there are ways that we can use
that through mobile device technology and advertising through
our platform.
That's just one of the extra things that
we do.
You guys can handle attribution.
So if we, we buy a package on
iHeart traffic driving, some kind of promotional event
for a QSR, an automotive dealer, a convenience
store, we can actually attribute retail visits to
(17:00):
the push of your programming or at least
somebody who's a listener.
Boom, they come in and then we could
probably market back to them for increased visits,
frequency, loyalty programming, you name it.
I mean, I think there's something there that
we should work on.
There is.
And I think it goes back to the
loyalty factor, right?
So it's about having strategic conversations about where
(17:21):
those opportunities are.
And when you have audiences of our sizes,
you're able to do a lot of targeting,
but also influence the influencer.
I think as marketers, because we have so
much data on the consumer, sometimes we're honing
in a lot on our target consumer.
But when you look at most industries, their
targeted customer only represents about 40% of
(17:44):
their total customer base.
And when you look at the American consumer,
only 18% of Americans actually say, nobody
influences my decision.
That means 82% do.
So there is this, this importance of reaching
people at the right moments at the masses,
because people trust recommendations from friends.
So if you can be, make your brand
top of mind with individuals, you're going to
(18:06):
influence the everyday influencer who might be a
sister, friend, coworker, a loved one who is
like, I really think you should take advantage
of this.
So I think we have, we're a little
bit of a crossroads where we have to
kind of look at like what Procter and
Gamble did.
You know, they went heavy into digital and
I'm not saying digital is bad.
I think digital is such an important thing
and area, but I think we have to
(18:27):
take a step back and say, you know,
where are our brands and what do people
think about them?
Procter and Gamble realized they had a problem
when people didn't know what a Kleenex was
anymore.
They called it a tissue.
And when I grew up, you never called,
it was, it was always called a Kleenex.
And so they took a step back and
they looked at their marketing and they looked
at their media modeling.
And, you know, I know a lot of
(18:48):
people say, Hey, I don't have Procter and
Gamble's budget.
So why are we talking about this?
You probably don't, but the reality is you
also then don't have the budget to study
how marketing works and they study it so
extensively.
And they've seen such an impact by adding
radio, podcasting, audio back into the fold in
a major level.
They've been able to cut overall investments and
(19:09):
have record-breaking sales.
That's great.
And they support the retail environment.
What kind of push do you see from
like retail media has absolutely exploded in terms
of, it's almost like the new co-op
and vendor relationship where a majority of dollars
are starting to swing over.
Do you guys have any partnerships with, let's
(19:30):
say Walmart or Target, anybody that operates their
own in-house retail media system?
So right now I'm not aware that we
do have those partnerships, but I will tell
you, we have a whole division that focuses
on this and if it doesn't exist now,
I know we work very closely with Walmart.
It wouldn't surprise me if that's something that's
coming very soon with iHeart.
(19:51):
But I think retail media makes sense.
One of the hardest things to do is
to get the consumer into your store.
So once you've gotten them there, finding ways
that you can personalize the experience for them
and make the shopping easier through retail media,
I think it makes sense.
I think it would be something that we
have to make sure that someone first gets
there.
(20:11):
And that's where the bigger audio play I
believe truly is.
But I think it's smart to look at
that.
Can you give us a peek behind the
curtain in terms of your last planning session
with all the executives?
What's coming up in the future?
What is a mind-blowing thought that comes
out of your leadership team in terms of
where you guys are taking?
(20:32):
Because you've already just reinvented audio.
What are you doing next?
Well, I think that's something that's kind of
important to note.
We disrupted ourselves a long time ago.
And I give Bob Pittman, our CEO, so
much credit.
He started MTV.
He is one of the most amazing visionaries.
It is truly inspiring to work with him.
I was on a call with him yesterday.
(20:53):
And his vision is really to continue to
innovate, to continue to use AI to put
our content in different languages.
He is so committed to giving diverse voices
a bigger microphone.
And when I say committed, more than 50
% of all the investing that we're doing
into new programming is to give women, to
give black audiences, Hispanic audiences a bigger microphone.
(21:16):
So that's all the content that we're investing
into.
And I'm so proud of that commitment.
Not to just say that diversity and equity
and inclusion matters, but to actually put your
money where your mouth is and create these
amazing suites of content to make sure that
our content can be available everywhere to any
language, that's important.
(21:36):
I think the biggest thing that we're going
to focus on is helping marketers understand audio.
Because like I said, well, again, it's different.
I'll give you an example.
So I'm going to say something to you
and I want your reaction.
Okay.
I'm going to say the words candy in
the grand Canyon.
What does it look?
Yep.
What does it look like?
It looks like candy crush the game.
(21:59):
Okay.
Very cool.
That's what I got.
Great.
Now you're like, why is she asking me
this question?
I'm going to get to it, but I
think it's a really important thing.
My candy in the grand Canyon looks very
different.
I have jelly beans on the first roll.
I have smarties organized by color about halfway
up.
And I guarantee you, everybody who's listening to
(22:19):
this podcast is now imagining candy in the
grand Canyon.
Now, if I showed you an image, a
visual of candy in the grand Canyon, it
doesn't make your brain have to get involved.
It's a passive type of an impression.
And obviously if it's something that appeals to
you, you're all in, but with audio, you
get to make this hyper personal because I
(22:40):
just use my imagination.
And I think that's why audio impressions generate
such a response.
In fact, dense you did a study recently
with Lumen and they found that audio actually
generates a 55% higher attention per second
rate than social digital and television.
And I think it's because you have to
make it relevant to me.
(23:01):
And then it's hyper personal.
So that candy in the grand Canyon experiment,
I guarantee you, everyone's thinking of it differently.
And that's how audio hits the consumer and
how it's, how it's so impactful to engage
them.
Well, I like the idea that you organize
your smarties by color.
I mean, and they're rainbow.
I mean, I'm actually very honest, but the
jelly beans on the bottom, I don't know
(23:21):
why they were there, but they were there.
But I just think when you paint that
picture and you storytell, it really takes you
to a hyper personal space.
So you obviously have a bustling career.
What do you do outside?
What kind of philanthropies are you involved with?
What do you do to sort of strengthen
that, that heart side of the I heart
(23:43):
president?
So I'm on the board of Ohio for
St. Jude's.
In fact, we have a fundraising event tonight,
very passionate about that charity.
I've had people I've had friends very much
touched by childhood cancers and how much they
have absolutely evangelized care and changed it to
the point where research wasn't happening in that
(24:04):
space.
And now the outcomes are so much better.
So I'm very proud of that.
I work with the Columbus symphony here just
was at a gala for, with them last,
last, last Saturday.
I get involved wherever we can.
I usually follow the lead of my employees.
I find it that if they're passionate about
a product, then we're going to get all
behind it and work together, whether it's radio
thons, we're doing a celebrity softball game coming
(24:27):
up here with new kids on the block.
Imagine like rock and jocks.
So our team here in Columbus is doing
a celebrity softball game.
It's the gosh, I think it's your four.
We've raised money for nationwide children's hospital for
mental health because that is some, an area
where we're just, we cannot possibly invest more
in helping the mental wellbeing of our, our
(24:48):
children, especially our teens.
And I'm so proud of what nationwide children's
hospital is doing here.
So we do a fundraiser for them.
But if you follow your team and you,
and you support the things that they support,
it gives you a three 50, a three
60 impact.
Well, give us an idea of how we
can get in touch.
Talk to Jennifer, our producer and tell us
(25:08):
how we can get involved in and support
what you're doing.
Cause we really appreciate your visit today.
Is there anything, is there anything on your
reading list besides more podcasts to listen to
or to do this?
Is there anything from a business point of
view or I don't care, nonfiction fictions, just
tell us a little bit about what's on
your bedside table.
The book I'm reading right now that I
love for leaders.
(25:28):
It's called be the unicorn and it's 12
simple leadership approaches that you can do.
And they're not hard.
I sometimes you read these books and you're
like, this is amazing, but when will I
have time to actually activate this?
I think it's an amazing book.
It's a times bestseller, but it's an easy
read because it just draws you in.
But it talks about just that, that the
(25:48):
types of things as a leader you have
to do to be really present.
I consider myself to be a humble leader.
I, I work for my team and I
mean that it's not just a word I
dig in.
I help with problems.
And this book is really good at kind
of helping you explain, helping you understand exactly
where you need to put your, your best
priorities to really thrive and grow.
(26:09):
So that's that.
And then I actually, I have three kids
that keep me like super busy.
I, I love that my work and my
life integrate.
I won't call it a balance, but my
kids understand what I do.
And I hope my daughters in particular, see
that you can, you can do anything you
want if you're really willing to, to dive
in and work hard.
That's inspiring.
And I appreciate you being here today.
How can people get in touch with you?
(26:30):
How do they, how do they touch base
with Chris Foley?
So follow me on LinkedIn.
I would love to connect that way.
It's Chris Foley.
I heart media DM me.
I will get in touch with you.
We are here to help.
They can work through you.
I'd, I'd love to partner with 500 degrees.
I think you guys bring so many smart
ideas to the table and anything we can
all do together.
I know it's going to rock.
(26:51):
Love it.
Great.
Well, this is burning questions from 500 degrees.
We really appreciate you being here.
I want to thank fallback studios for hosting
us today.
Our producer, Jennifer Hagren and our writer, Joe
Stuber.
But with that, we're out of here and
goodbye.
Bye.
Bye.
On the next episode of burning questions, your
(27:13):
price is right.
Or is it, are you underselling your company?
Are you bidding yourself out of business opportunities?
Well, on the next episode, Tracy Shirtcliff founder
and CEO of scope, better joins me to
help all of us find the sweet spot
of selling clients on your value and how
to maximize profits in the process.
What we need to be doing is showing
the value that we're, that we're delivering.
(27:35):
That's that's the magic.
It's coming up on the next burning questions.
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