Bob Pittman - Lessons from Building Media Empires – [Founder’s Field Guide, EP.12]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Investing, Business, Technology

4.8 • 2.4K Ratings

🗓️ 17 December 2020

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today, Bob Pittman, has had one of the most interesting careers I’ve ever come across. Today, he’s the CEO of iHeartMedia, the country’s largest operator of radio stations and podcasts. Bob also created MTV, was the CEO of Six Flags and 21 Century Real Estate, and the COO of AOL and AOL Time Warner. He’s the Dos Equis man of business. In our conversation we discuss why convenience is king for consumers, his lessons from building MTV into one of the most iconic brands and media properties in the world, the rise of user-generated content platforms, and the future of media. We also discuss what qualities make for a great host, a topic that given my current position, is always fascinating. Please enjoy my great conversation with Bob Pittman.

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This episode of Founder’s Field Guide is also brought to you by NetSuite.

Netsuite allows founders to centralize their payment systems, ditch old spreadsheets and Quickbook tools, and finally gain visibility and control over their financials, HR, inventory, eCommerce - all in one place, instantly.

Whether you are doing a million in revenue or hundreds of millions in revenue - see why over 22,000 companies are using NetSuite today. Schedule your free product tour at https://www.netsuite.com/invest.

For more episodes go to InvestorFieldGuide.com/podcast.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

(2:56) – (First question) – His personal interest that unites all of his business ventures

(4:09) – His philosophy on the consumer

(7:43) – Biggest quality mistakes business leaders make

(9:31) – Respecting convenience in consumer preferences

(11:08) – Founding insight to build MTV

(16:23) – Fred Seibert on Math in Magic Podcast

(17:14) – How the music video concept evolved with MTV

(22:37) – Role of hosts vs guests in the media world

(25:13) – Quality that increases the odds a host works

(30:15) – Why everyone needs to know how to tell a good story

(31:53) – Peak of his time at MTV

(37:51) – Lessons for new media from his experience

(43:46 – The largest uncertainty in the media landscape amid the rise of user generated content platforms

(49:27) – Where he finds inspiration outside of business

(55:40) – What Other People Say May Change What You See

(56:16) – Different ownership structures and how they changed his behavior

(59:09) – Finding and respecting your audience

(1:02:11) – Lessons from time at Six Flags

(1:02:24) – Most interesting thing about podcasting

(102:52) – Kindest thing anyone has done for him

Learn More

For more episodes go to InvestorFieldGuide.com/podcast.

Follow Patrick on Twitter at @patrick_oshag

Transcript

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0:00.0	This episode of Founders Field Guide is brought to you by Docsend.
0:03.3	Docsend is the standard for founders to share their pitch decks with VCs when they are raising capital.
0:08.4	With Docsend, you control who has access to your fundraising materials
0:11.6	and you always know what's happening with your pitch deck after you send it.
0:14.8	Did VCs actually open it? What slides did they spend the most time on?
0:18.0	Did they share it with others? Founders are using Docsend to fundraise, but also to share
0:22.7	investor updates with their board or to send their sales pitches to prospects for better security
0:27.3	and engagement. I personally know a number of successful startups that have been able to raise
0:31.8	using Docsend. Check out Docsend.com to start your free trial. If you're curious to hear more about
0:36.9	Docsend, stay tuned at the end of this episode where I talk to Docsend CEO, Ross Hedleston.
0:42.0	This episode of Founders Field Guide is also brought to you by NetSuite. If you're an entrepreneur,
0:46.4	you know how hard running a business is. Don't let QuickBooks and Spreadsheets slow you down
0:50.4	anymore. NetSuite makes running a business simpler and faster. Whether it's centralizing your
0:54.8	multiple payment systems, ditching old spreadsheets and outdated software, only NetSuite gives you the
0:59.6	visibility and control over your financials, HR, inventory, e-commerce, and more in one place
1:05.1	instantly. Whether you're doing a million of revenue or hundreds of millions of revenue,
1:08.9	join the 22,000 other companies using NetSuite right now to save time and money for your business.
1:14.2	Schedule your free product tour right now at NetSuite.com forward slash invest. That's NetSuite.com
1:20.0	forward slash invest. Hello and welcome everyone. I'm Patrick O'Shaughnessy and this is Founders
1:26.0	Field Guide. Founders Field Guide is a series of conversations with founders, CEOs,
1:30.3	and operators building great businesses. I believe we are all builders in our own way and this series
1:35.4	is dedicated to stories and lessons from builders of all types. You can find more episodes at
	...

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