Radio and audio entertainment powerhouse iHeartMedia hasn't seen any negative coronavirus impact and may actually see listeners feel a closer connection with the company's services due to the virus, chairman and CEO Bob Pittman said Tuesday.
He, along with president, chief operating officer and chief financial officer Rich Bressler, spoke at Deutsche Bank’s 28th Annual Media, Internet & Telecom Conference, which was set to take place in Palm Beach, Fla., but was changed to a virtual event amid coronavirus fears.
"We haven’t seen an impact yet," Pittman said when asked about the coronavirus, highlighting that iHeartMedia is only active in the U.S. and therefore has no exposure to international markets where there has been "much more of an impact." He added that the company was watching the situation "very closely" though. Addressing any potential fallout for iHeartRadio, the CEO said: "We are a business that is about companionship, so in times of need like this, [people] are hanging out with us more and they are looking to us for information. We are not in the business of providing entertainment programs. We are in the business of providing companionship. We keep people company."