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iHeartMedia is expanding into web3 and the metaverse, launching new events on Roblox (NYSE: RBLX) and creating tokenized communities. This initiative aims to harness its reach of over 90% of Americans monthly to raise awareness for new platforms. CEO Bob Pittman emphasized the company's unique position to drive demand for emerging technologies, aiming for a new growth layer. iHeart plans to engage 47 million daily Roblox users through immersive musical experiences and a new token that rewards creators and fans with exclusive access and NFTs.
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Extending presence into web3 and the metaverse, creating new revenue streams.
Launch of immersive musical experiences for over 47 million Roblox daily active users.
Development of a tokenized community incentivizing iHeart's creator community.
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Web3 and the Metaverse Are Newest Consumer Platforms for iHeartMedia; Company Will Also Build A Tokenized Community With Special Access to iHeart Events, Influencers And NFTs
NEW YORK--(BUSINESS WIRE)--
iHeartMedia, the leading audio company in America, announced today an important next step in extending its presence into web3 and the metaverse, beginning with plans for the creation of iHeart events and experiences for listeners and music fans on Roblox (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, and committing to launch tokenized communities for its users and creators. iHeart will also use its industry-leading consumer reach of over 90% of Americans every month and strong engagement to create the awareness and demand necessary to bring new metaverse and web3 platforms to the mass market.
“Although there are a number of great new products for the metaverse and web3 from a wide array of creators, with our unparalleled audience reach, multiple platforms, and our trusted broadcast and podcast hosts, iHeartMedia is uniquely positioned to build the consumer awareness, understanding and demand necessary for those new products and platforms from both us and others to succeed,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “We see this as a unique opportunity to serve our listeners’ needs, provide an important new layer of growth for the company, and help develop the advertising and consumer potential for the metaverse and web3.”
As part of this overall strategy, in 2022 iHeartMedia plans to bring immersive musical moments to the over 47M daily active users on the Roblox platform and launch its first tokenized community, building a new token that will incentivize and reward the iHeart creator community in new ways and give iHeart’s fans unique access to offerings across its multiple platforms, and a series of collectible non-fungible tokens (NFTs), building on the success of its previously launched iHeartRadio Music Festival NFTs in partnership with Green NFT platform OneOf in September 2021.
“In the same way in which we believed in and committed to digital radio and podcasting – and became the strong number one in both -- we are big believers in the incredible potential of web3,” said Conal Byrne, President of the iHeartMedia Digital Audio Group. “We have already stepped into the metaverse with NFTs and have much more to come. iHeart’s place in this ecosystem -- giving fans extraordinary access to the special events and influencers we provide every day of the year -- is what we’re focused on building out as we work with key partners and develop an easy-to-use ramp to the metaverse and web3 for the mass market.”
About iHeartMedia
iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, reaching over 250 million people each month. It is number one by a substantial margin in both broadcast and digital streaming radio as well as number one in podcasting according to Podtrac, with more downloads than the next three podcast publishers combined; the number one social footprint among audio players, with seven times more followers than the next audio media brand; and the only fully integrated audio ad tech platform. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information.
