Yahoo continues media ad push in Clear Channel digital radio deal
The former Web portal giant continues its push to become a "media company" in a strategic partnership with radio station giant Clear Channel, the second such deal in as many days,
Yahoo will expand its current strategy to bring exclusive media and digital content in a bid to compete with Facebook and Google in the online advertising space.
The companies agreed that Yahoo will use Clear Channel's iHeartRadio platform as its official online radio service.
In return, Yahoo said as part of the deal it will provide exclusive live video of this year's iHeartRadio music festival in Las Vegas, which is sponsored by Clear Channel's online music service, and plans to carry close to a dozen other live events put on by Clear Channel.
While the deals allow jointly-produced original content will appear on Yahoo's website and promoted on television, the Clear Channel deal will allow Yahoo content to be promoted on Clear Channel's 850-odd radio stations across the United States.
Financial terms of the deal were not disclosed, particularly whether Yahoo would see a cut of Clear Channel's revenue from ads served through the radio service.
Yahoo recently penned similar deals with ABC News and CNBC to jointly distribute video content across their respective networks.
On Wednesday, Yahoo signed a pact with Spotify that would see Yahoo Music bolstered by Spotify's music streaming service. Spotify wants to increase its user base beyond the 10 million mark and boost profitability, while Yahoo continues to push for "media company" status amid a corporate identity crisis.
As part of the press release, Clear Channel chief executive Bob Pittman said the deal was reached thanks to no other than interim Yahoo chief executive Ross Levinsohn --- seemingly a public push to get his name out there following the Scott Thompson "Resumegate" affair --- which will likely rack up in his favour when a full-time chief executive is announced.
Which, lets face it, will likely be Levinsohn himself.
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