Radio giant iHeartMedia has begun making strides into the metaverse, announcing plans last week to open a virtual stadium in Roblox to produce digital concerts. In the virtual neighborhood, people can collect in-game rewards and exchange them for “iHeartBucks.” Players can run their own radio stations, which are storefronts inside the neighborhood, and unlock songs and playlists. State Farm is a sponsor of the gaming neighborhood.
And earlier in the month, iHeart held its first concert in Fortnite, where Charlie Puth played.
For iHeart, these activations are more than stunts and represent the opportunity for real revenue generation in the metaverse.
During this episode of Remotely, Pittman will discuss how these initial concepts are laying the foundation for the company’s Web3 plans. And beyond the metaverse, the former MTV CEO will assess the state of the advertising marketplace and the future of the podcasting business.
