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For decades, radio stations have offered exclusive concert events for its listeners. But, in the digital age, iHeartMedia has taken that consumer lure one step further. On June 9, the man responsible for the 2007 classic "Low" will host a special performance at State Farm Park. Only, the venue is not a stadium in Glendale, Ariz. — it's in the metaverse.

First, it was the nation's No. 1 audio content creation and distribution company. Now, the parent company of all-things NBC and the Spanish-language Telemundo network is entering the metaverse. And, it is thanks to a newly forged partnership with one of the biggest global technology companies helping broadcast TV enter the NEXTGEN era.

It's a partnership that sees the nation's largest audio content creation and distribution company team with a 100-year old auto insurance specialist on live experiences. This will be done through the combination of connectivity through major album releases, hit podcasts and interactive gaming.

Major brand advertisers now have a direct route into the increasingly important metaverse, iHeartMedia says. In particular, marketers are being given the opportunity to collaborate on new virtual experiences.

With recent declines in value from industry peers attracting attention, one story that's perhaps been underreported is that involving the stock performance of iHeartMedia. IHRT has proven to be a strong performer in the broadcast media sector across the third quarter.

No, it's not a theme park like Kings Island or Magic Mountain. But, iHeartMedia believes it has created "the premiere destination for fan experiences" by doing so in the metaverse. Introducing iHeartLand, home to State Farm Park and a slate of podcasts, concerts and "major events" planned for the Fortnite-housed virtual gathering place.