Yahoo strikes digital radio deal with Clear Channel

Continuing to strike partnerships with large traditional media brands, Yahoo on Wednesday said it is teaming with radio giant Clear Channel Media to make iHeartRadio Yahoo’s (s YHOO) official digital radio service.
Clear Channel’s iHeartRadio offers live digital feeds to more than 1,000 radio stations to a monthly audience of about 45 million unique listeners.
According to Yahoo, the relationship with San Antonio-based Clear Channel also involves cross promotion of content across both companies. For example, audio feeds of popular Yahoo video series will show up on Clear Channel radio stations across the U.S.
Also read: Does Yahoo even know how to be a modern media company?
Meanwhile, iHeartRadio content will be promoted on Yahoo platforms like OMG! and Yahoo Movies.
The deal will also include partnering on live events.
For example, Yahoo will become the exclusive web and mobile destination for music fans to stream the 2012 iHeartRadio Music Festival, which takes place Sept. 21-22 at the MGM Grand in Las Vegas.
According to James Heckman, Yahoo’s senior VP of strategy and emerging businesses, Clear Channel — like CNBC, ABC News and other recent Yahoo partners — offers his “horizontal media company” the chance to work with a conglomerate with deep ties into a vertical market (in this case, radio-delivered music).
“It definitely helps the perception of the Yahoo media brand among consumers and advertisers,” he told paidContent.
Also read: Yahoo’s video chief – how to get $3B closer to $50B
Meanwhile, the deal will help Clear Channel, which counts 237 million traditional radio listeners, further ramp up its internet footprint through a digital media giant that serveds 167 million unique users a month, according to comScore.
Heckman would not go into depth about the monetary aspects of the deal. “Both of us are going to have the ability to generate incremental revenue as a result of this partnership,” he said.
It’s Yahoo’s second music deal in as many days; Spotify users now have direct access through Yahoo.