iHeartMedia appoints Lisa Coffey as Chief Business Officer

iHeartMedia (NASDAQ: IHRT) announced that Lisa Coffey has joined the audio company as Chief Business Officer, a newly created position. Coffey will oversee development and implementation of the company's advanced advertising products and platforms, including programmatic solutions for broadcast radio.

In her role, Coffey will report to Chairman and CEO Bob Pittman and President, COO and CFO Rich Bressler. She will lead efforts to digitize and scale an addressable audio ecosystem for the company.

Coffey joins iHeartMedia from LoopMe, where she served as Global Chief Revenue Officer, directing global revenue, partnerships and growth strategies. Previously, she held leadership positions at Amazon, including Head of Business Development for Amazon Hub and Head of Agency Development, where she founded and led the agency team that introduced Amazon Advertising to the U.S. marketplace.

"We've been working to transform our broadcast advertising media to a more digital-like product, including strong data, attribution and targeting capabilities as well as creating new marketing and advertising products," Pittman said. "Lisa's unique skills and experience will enable us to take the critical next step in bringing this to market."

Coffey said she looks forward to launching a platform that makes broadcast radio audiences addressable and scalable for advertisers. She noted that broadcast radio has three to four times the reach of streaming audio services and represents over two-thirds of total daily audio usage by consumers.

The appointment comes as iHeartMedia continues efforts to modernize its advertising capabilities and integrate broadcast radio into digital advertising ecosystems. The information is based on a company press release.

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