Radio was flat for 2013 and there have been all kinds of explanations – no political advertising compared to the previous year, popularity of digital competitors and Pandora is taking sizeable amounts of revenue away from radio.
Again, 2014 will be flat or down according to forecasts from financial experts and the first quarter is starting out awful.
When Clear Channel’s biggest moneymaking cluster, Los Angeles, is off a minimum of 10% for the first quarter, which ends in a few weeks, you know we all have trouble.
Meanwhile, digital is supposed to be the future, but for radio, according to Borrell Research, the average station does $166,000 in digital a year and they get to decide what is called digital.
And that’s an average. Some are much less and even doubling it does not guarantee position revenue growth for 2014.
But there are positive ways to guarantee a positive finish up as much as 4% in radio revenue.
- Exceed revenue totals for last year by holding on to the same number of advertisers you had but increasing their effectiveness by 30% so they will spend more and pay more. At my coming Philly meeting, More FM owner Jerry Lee will tell you straight out the one thing you can do today that will increase your best advertisers effectiveness by 30%. Proven. And it costs nothing – just a shrewd strategic move you will want to know and understand. It’s an open forum, you can ask him directly.
- Tuck in some added dollars by stealing it from TV advertising. Learn how to pitch doubling TV sales results for less than the cost of TV through a more effective radio approach. Here’s how to make TV advertisers really believe you.
- Then, add a new digital revenue stream with guaranteed big income. This would be video. I will show some short-form video examples that are bringing in $3 million a year in revenue. Just following this footprint and having a modest success nets an additional income stream toward your plus 4% finish for 2014.
- Video may seem like kid stuff but let’s go to school on these “kids”. Let me show you a teenager who makes the kind of money that could put you into positive revenue for the year by giving away short-form videos. Here’s how she makes her money. You can do this, no problem.
If you’re in the mood to finish 2014 strong, these and other strategies we will cover in Philly will get you there.
Plus, these topics that will make you a better local broadcaster:
- Specific ways to disrupt radio and put an end to digital competitors interrupting your station’s revenue stream.
- Methods to master digital as a second stream of revenue alongside broadcasting. Things like replacing your website with something better, eliminating podcasts for a product that will actually attract big money advertisers and a cost-effective, easy way to put your brand on every smartphone in your market without having to stream your station. Just to mention three.
- The nuts and bolts of starting your own station’s social media network independent from Facebook, Twitter or some other flash in the pan alternative. From there, how to grow your fan base.
- A well-defined strategy to change the sound and on-air approach of your radio station at one coordinated time. You won’t want this to get in the hands of a competitor, for sure.
- What you need to know about starting your own radio station video business – one that will be unlike anything you’ve ever seen, will not need salespeople to unlock the revenue potential and that will more than make up for any on-air advertising shortfalls you may run into this year. I’ll show video examples and reveal the winning game plans.
- From my work as a USC professor in the area of generational media: the critical Millennial checklist. This is what I use as my new business bible. You’ll get it. Four things that the next generation of listeners must have in order to listen to radio in the digital age. What they want from you. On-air content you are not giving them that they would love. A never before aired “contest” that would enthrall them.
- Exactly how you can time shift radio and how not to. Time shifting is the new broadcasting in an increasingly on-demand world. Failure to embrace time shifting could prematurely make your stations extinct. But you will have innovative key strategies to get started with.
Jerry Lee will be there to give you the edge in helping advertisers do better so they spend more with you like they do with him in Philly. He will provide an action list.
Sean Hannity will join us in person not to talk politics but the opportunities ahead for radio with Millennial listeners. He is doing some impressive work in this area you probably don’t know about.
Michael Harrison is the most quoted radio person by the consumer press because he sees future trends before most. Let’s ask him about the future of radio, digital, talk, news and music.
This event will not be available by stream or video – only live and in person.
I can’t wait to share my enthusiasm and knowledge with you in Philly March 26th.
Join the radio executives and digital entrepreneurs who have already reserved their seats.
Reserve a seat
Inquire about group rates
If you’d like to stay on-site at The Rittenhouse Hotel, mention you’ve registered for the “Media Solutions Conference”. Call 800-635-1042 and ask for Alyson Lurie.