My case study is about Clear Channel and how Clear Channel change new media despite economic downturns. My case study will explain how the evolution of Clear Channel progress to be a major media company. Clear Channel the country large Radio Media producer own or control 850 stations in the U.S (Clear Channel.com 2011) The Company’s station engaged listener from all genre of music. Hip-hop, Christian, to Heavy Metal Clear Channel has created or purchased a station to fit all needs. Clear Channel’s business model is design as a corporation structure generating revenue through Media Ads sale, Concerts, Cross Promotions, and Marketing Agency representations billing. Together these different types of revenue give Clear Channel an edge over competing businesses
A clear Channel business trend has been inconsistent in recent year due to economic hardship. Revamping of the model had to change to meet new economic times. Since 2010 Clear Channel has emerge again as a media leader to some a double-digit increase in market share and 5% increase in revenue. (Clear Channel.com 2011) Clear Channel kept up with social trends with Facebook and twitters presence and media trends by creating “iHeartradio” in 2011. The Creation of the applications was launch by a two-day concert in Las Vegas, which has became an iconic event.
The most jaw-dropping statistic that I thought was interesting is Clear Channel owns radio stations in 45 different countries on 5 continents and employs over 110,000 people in the world despite major cutbacks in 2011 and 2012. This company has showed the world its Business Model is success and it works.
Clear Channel has many revenue streams but the major streams are terrestrial and streaming radio, billboard and transportation ads, and entertainment and venue marketing. This strategy made Clear Channel the leader in advertising and launch the company to a level no company in radio can compete.
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