Inside Music MediaJerry Del Colliano

Radio keeps getting whacked in the revenue department.

Cumulus bottomed out yesterday with awful Q4 and yearly revenue figures.

iHeart and the others are down and that doesn’t bode well.

Will everyone have to be Townsquare a company that says they’re a digital company not a radio company and in their memos to employees reminds them:

“As you know we are a digital company that owns radio stations.”

The emails continue with some online content ideas and concludes by saying:

“Please tell, remind, ask, and beg your listeners to go to your website.”

Beg?

Is that what radio has become?

I’m saying no and I’ve got the evidence to prove it.

There are plenty of better ways to increase revenue while doing the best radio programming possible. For example:

• Premium spot rates – the only way around big consolidators driving down local ad prices is to adopt a policy like this which I will lay out at my upcoming management conference.
• Binge programming – develop binge programming for after 7pm until 5am and weekends following the latest information we have about younger money demos and watch your revenue totals increase now – not three quarters from now.
• Paid subscriptions – you’re talking to the right guy when I share the power of paid subscriptions when added to special in-demand programming. And if you don’t think your on-air audience will pay up, wait until you see the evidence.
• Product placement – yes, we can do that in radio. It’s no longer just for TV and there are companies like Macy’s and Target that have budgets for these things not to mention local advertisers who will love the concept.
• Defending against big operators driving down radio rates – that is the number one problem according to radio group heads. No matter how you may be, companies with nothing to lose are dropping rates and bonusing spots in effect killing the rest of the radio market. This puts a stop to that pronto.
• Short-form video – inexpensive, social media friendly and a perfect companion for radio.

Let’s continue this conversation when we get together in Philadelphia April 6^th.

Look, I’m into dealing with the truth even if it is painful but I am also optimistic about what we can do when we innovate and directly respond to the forces that are posing a long-term threat to radio operators.

So, we’ll start with finding new radio revenue streams and then we’ll deliver on solutions for these critical issues:

1. Change the way we talk to audiences.
2. Making money from digital.
3. Getting Millennials to listen.
4. Reinvigorating the morning show.
5. Turning around radio’s alarming revenue declines.
6. What to do about podcasting.
7. How to do a Millennial Radio Makeover to win more 18-34’s.
8. Selling around a rigged ratings system (Harker Research and Sean Hannity share research that shows the type of listening talk and music stations are losing with PPM ratings and how to reclaim the listening you’ve lost).
9. Eliminating radio’s biggest objections

A day of information and inspiration with topics that really matter.

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