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Economy seems to be turning for better: iHeartMedia CEO

The economy is looking stronger and advertisers are getting more confident in spending money these days, iHeartMedia Chairman and CEO Bob Pittman told CNBC's "Street Signs" Tuesday.

"I sense a turnaround and sense in talking to the advertisers that they are, this is—hopefully, knock on wood—the year in which they say, 'OK, let's stop the slowdown, let's get back to really playing on the offense,'" he said from the Consumer Electronics Show in Las Vegas.

The company announced a number of partnerships with electronics makers at the show aimed at expanding its reach to consumers.

"All these devices are really new radios. We have the clock radio. We have the car radio. Now we have your handheld radio," Pittman said. "So although they are digital products, to the consumer they are just one more way to get their favorite radio stations."

Robert Pittman
Andrew Harrer | Bloomberg | Getty Images
Robert Pittman

With listeners able to use their phones as radios, it not only increases iHeartRadio's listening, it also intensifies its relationship with them, he said. That all translates into ad dollars.

Pittman also addressed Taylor Swift's decision to pull her album catalog from streaming music service Spotify, noting that there is really no impact on radio.

"Radio breaks music and always has," he said.

"When you look at Spotify, what that really is is a replacement for the CD, for iTunes downloads, and I think people like Taylor Swift were saying, 'I'm not sure I'm getting paid enough to warrant it being there.'"

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