Yahoo struck another content deal yesterday. This time it's with Clear Channel Communications and their iHeartRadio Network.
The distribution and cross-promotion deal allows Yahoo access the to iHearRadio musical content to use as its digital radio service, and in return, ClearChannel, one of the biggest players in terrestrial radio, advances their digital presence.
The partnership also offers Yahoo exclusive access to various concert series and musical events, including a two-day iHeartRadio Music Festival in September at the Las Vegas MGM Grand.
Yahoo's interim CEO Ross Levinsohn comments on the new deal with Clear Channel Communications:
"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,"
Clear Channel CEO Bob Pittman commented on the partnership with Yahoo:
"We were thrilled when Ross approached us about this partnership,"
"We like the direction Yahoo! is going and by working together we can accelerate growth for the both of us."
Yahoo also just worked a deal with Spotify to integrate their extensive musical content in their media sites. Later this year, Yahoo will introduce a Spotify app that allows listeners mobile access to the platform as well as new original content from Yahoo.
Currently Yahoo gets about 700 million unique visitors each month. Clear Channel and their iHeartRadio Network have 237 million listeners across 150 markets. Spotify has 10 million active users.