Daily Deals Hit the Radio

This transcript is automatically generated

Let's go shopping the daily deals market has a new player who says they've got the upper hand because the power of radio.

Is -- -- David.

But with an already crowded market in consumer interest appearing to -- do they have enough of an edge Lewis Dickey is the chairman CEO of cumulus owner of the daily deals site sweet Jack good to see a Lewis thank you for coming on subsidy.

The first question always has to focus on Groupon because they've had such a checkered past.

Somewhere areas very successful in other areas not as much as they have said they would be how -- you guys do.

For from what Groupon does first -- all.

Well I think first thought Groupon did a great job of pioneer in this space and they're still big company today and they're growing -- separate the stock from.

The business itself and so we're we're different in in the sense that we're both we're both from the daily deals business has is living social -- to take about 75%.

About.

Three plus billion dollar market and we're just getting -- launch will be.

In 200 markets by the end of the year or so for openers were going to be -- more cities than either one of those with 200 cities by the end of the year and our partnership with clear channel.

And -- and the radio as you mentioned earlier is a key component to this because.

The way the business model works is those of the other two -- living social they have a mailing lists and email lists and their mailing the deals out to those people in addition.

We're featuring those deals with up to 250 million Americans across the country every day.

So in addition to the list you're deals also explosion on the radio and so you're able to broaden your reach dramatically.

It makes cents a losing team is he getting that Groupon question but let's go into living social for a second I didn't -- the CEO on last week I saw that.

And he's talking about going beyond local -- this hyper local market how do you compete there.

Well I think hyper local they're just referring to -- -- geo targeting and today the technology has evolved so much sense either one of those businesses were launched and were fortune to be able to build our platform on the latest technology so everything is going to be.

Everything it's going to be geo targeted and down to the individual cell towers will be able to tell -- somebody is by mobile.

And so much has been discussed in terms of mobile advertising and how it works but this is really.

-- mobile commerce so that's what that's what so when somebody's listening to the radio and they here.

A -- Jack had and they can check in and they can see exactly where what's closest to them and where they can.

Actually go and find a deal and that's -- using the mobile as well as the radio can be a very powerful combination together.

Now Lewis you got a very ambitious goal hundred billion dollar in revenue by 2014.

I think is your goal.

When it when you're approaching investors for this project and you and you tell a -- today's -- A hundred million and it in a year and a half.

Well in game in reality that's that's not a big percentage of of the revenue out of its and they say it's north three billion today for the markets you're only talking about 3% of the market.

-- and our second career out and that's -- that's district fully distributed -- platform of 200 cities so.

We believe that's attainable and -- it certainly is a nice addition to the 1000000002 were doing it cumulus today.

Any plans to go beyond the credit list navy -- stock markets -- two wars and home for some some.

Well we've got an organized as a as a sub so there's always flexibility to be able to do.

Other things with -- with this particular -- this particular venture but.

You know I just think that radio is such an ideal partner for this type of digital business I think that -- Models are evolving and what you're seeing in the broadcast business.

Is the ability to take this tremendous reach because radio reaches.

Literally 93 out of a hundred Americans and it is it is up a technology that is mobile and its local.

It's it's out of helmets electronic and its digital and so those are all these people are looking for today we have that region if we can partner that.

With a good daily deals business which really becomes a local commerce business -- it's listings and it's.

Other aspects for the local businesses we think we can be a true partner in local commerce we using our broadcast assets.

That's when you take.

Yeah -- like it thank you really -- Cumulus Media can end.

And CEO thanks for coming on amazing how one of the original electronic media Christina -- today yeah.

Still is as -- today in terms of advertising -- it used to be made even more so.

Watch Live

Daily Deals Hit the Radio

Details

Clips

Latest Video

Is the NSA Surveillance Program Needed?

Nicknames to Characterize the President’s Scandals

NYSE Bomb Plot Thwarted by NSA Surveillance?

Did Snowden Face Reprisals if He Stayed in U.S.?

Government Data Requests Running Amok?

RNC Chairman on Border Security, Immigration

RNC Chairman: The President Isn’t Leading

Can Obama Provide Meaningful Defense of NSA?

Money Raised for Sandy Hook Shooting Victims MIA?

Saving for College With a 529 Plan

How Would Fed Policy Shifts Affect American Families?

Chrysler Backs Down to Recall Pressure

Transcript

Recommended