UPDATE: CLEAR CHANNEL RADIO’S NEW NET STRATEGY

There is an update on Clear Channel Radio’s internet plans in a Rueter’s story posted on the CNNMoney  "…radio conglomerate Clear Channel Communications Inc. plans to transform video into the next radio star starting Monday. The San Antonio, Texas owner of over 1,200 radio stations in the U.S. plans to add original video programming to some 200 local radio stations’ Web sites to tap into the burgeoning market for online advertising, an executive said."

"The debut of online videos is part of a larger overhaul of its Internet strategy led by Evan Harrison, executive vice president of Clear Channel Radio’s new online music and radio division, whose goal is nothing less than putting an end to chatter about the medium’s imminent demise."

"As early as July, Clear Channel plans to take on some of its toughest critics with an aggressive new digital strategy. It may begin offering subscription online radio services, the ability to buy songs digitally or in CD format, or even ringtones directly from their Web sites. Perhaps most surprising of all, Clear Channel also plans to make some of its live morning shows available for downloading, commonly known as ‘Podcasting.’..

"Harrison told Reuters in an interview this week… ‘Online is radio’s for the taking.’..

"…Boosting production in its online radio services could help it tap into a lucrative market for online ads, which are seen growing about 25% this year, Harrison said."

"The moves reflect a media industry-wide trend as companies are building and buying Internet properties to boost virtual advertising real estate in order to offset slower growth in traditional media advertising. To Clear Channel, online ads on its local Web sites are now being viewed as a ‘daypart,’ Harrison said, referring to advertising industry parlance for commercial time or space.

See previous Hypebot story below.

Read the full CNNMoney story here.