US broadcast giant iHeartMedia has launched Project Listen, an initiative to “help brands better engage with consumers” across radio, music streaming, podcasts, smart speakers and live events.
The campaign has been created in partnership with ‘creative transformation company’ WPP.
According to the announcement, made at the 2019 Cannes Lions International Festival of Creativity yesterday (June 17), the two companies ‘will help marketers to mine audio data for insights’.
To achieve this, the campaign will comprise three elements; the launch of a new creative audio studio at advertising giant GroupM’s HQ at 3 World Trade Center in New York and the launch of a new Project Listen monthly podcast ‘to help inspire more advertisers to embrace audio’s new capabilities’.
iHeart will also integrate its Smart Audio Insights and audience tools with GroupM’s data, which will be shared in quarterly reports for clients and the market.
“Project Listen is about tapping into the scale of audio and moving from the traditionally transactional radio business to the future of audio advertising where insights and ideas lead the way to growth for brands.”
Bob Pittman, iHeartMedia
Bob Pittman, Chairman and CEO of iHeartMedia, said: “At iHeartMedia, we understand the unparalleled power of audio and its ability to engage and make brands part of the daily conversation, with consumers of all ages, at a massive scale.
“Project Listen is about tapping into the scale of audio and moving from the traditionally transactional radio business to the future of audio advertising where insights and ideas lead the way to growth for brands.
“Simply put, audio is the biggest greenfield for growth in media today, and we could not be more excited to partner with the talented teams across WPP to develop the tools and skillsets needed to unlock that growth.”
“Consumers are listening more than ever, and we already know the power of music, voice and sound to create engaging and emotional human connections.”
Mark Read, WPP
Mark Read, CEO of WPP added: “Consumers are listening more than ever, and we already know the power of music, voice and sound to create engaging and emotional human connections.
“As consumer behaviour evolves, from the media they enjoy to how they relate to brands and make purchase decisions, it’s essential to have a modern approach to creative and strategy for all media, including audio.”
iHeartMedia successfully completed its restructuring process last month, significantly reducing its debt from $16.1billion to $5.75bn.
The restructuring saw the full separation of iHeartMedia and Clear Channel Outdoor Holdings, creating two independent publicly-traded companies. This took place in accordance with iHeartMedia’s Plan of Reorganization.
The company filed for Chapter 11 bankruptcy protection in March 2018 after buckling under the weight of a $20bn debt.Music Business Worldwide