Despite his temporary (for now at least) title, Yahoo’s interim CEO Ross Levinsohn is going hard on beefing up Yahoo’s content. Within the past couple weeks he’s hammered out content distribution deals with CNBC and the digital music streaming service Spotify. And now he’s inked one with radio giant Clear Channel.
The U.S.-only multiyear deal will see Clear Channel’s digital radio service iHeartRadio streamed across the Yahoo Media Network and make audio versions of Yahoo’s original video content available through Clear Channel. So in exchange for iHeartRadio’s content flood of 1,000-plus radio stations, Yahoo offers up Clear Channel Yahoo Music's 167 million monthly users, which should bolster iHeartRadio’s 45 million monthly Web visitors.
Yahoo wouldn’t discuss whether it will be getting a cut of Clear Channel’s revenue from ads served through iHeartRadio.
The agreement also positions Yahoo as a live concert distributor, something YouTube and Facebook have each been doing more of. Yahoo and Clear Channel plan to collaborate on streaming dozens of concerts, including upcoming the iHeartRadio Music Festival.
“This partnership will expand our ability to provide consumers and advertisers with the best premium content available and provide Clear Channel with unmatched digital reach,” said Levinsohn in a statement, who was credited with initiating the deal by Clear Channel CEO Bob Pittman.