The dirty little secret of radio is that they get to define what digital is and determine how much revenue they derive from it.
Even if it is nothing.
It’s kind of like ratings – if Nielsen says you have one million listeners, then damn, it, you have one million listeners.
You may not have any influence over that audience, but who cares, right?
Radio is still paying the bills.
Digital is an add-on and largely not making money unless radio groups can slip some spot revenue and call it digital or vice versa.
Radio has this mentality that digital is an add-on to radio – an add-on they would rather not do and it looks that way.
I mean if I kept doing the same thing year after year and not making any money from it while having to pay the expenses (as radio groups are doing with streaming), I’d do something else.
And that’s my point today.
Wait until you see all the exciting “something else’s” that are waiting to be discovered.
In preparing for my March 26th Philly seminar, I’ve uncovered some alternate forms of revenue that I’m going to do. That’s how much I want to get in on this. Willing to share, but I’m not going to be the one to hesitate.
Throw out the old radio/digital formula, it not only doesn’t work, it distracts from doing good radio.
Let’s be clear.
Above all, do good on-air radio first.
And as an industry, we’re not which is why I am going to share the first really new listener radio preferences for the kind of radio they would actually listen to.
Even Millennials – the ones Nielsen would have us believe are happy as pig in you know what hearing Amp and Kiss play the same songs over and over again.
Let’s stop kidding ourselves and step up. So, we’re going to disrupt the way radio connects with audiences in the hope of attracting more fervent listeners and more younger money demos.
Next, start separate streams of digital revenue.
Notice I said separate.
Not brand extensions.
Not your morning show “lite”.
Adventurous initiatives that can start a separate revenue stream to make up for any ups and downs in spot radio or add to the profits if you’ve got your radio act together.
I’ve said that I’ve convinced Jerry Lee, the innovative owner of More FM in Philly to come teach at this seminar. Since I once worked for him, I threatened to go back on the air if he didn’t accept my invitation.
Lee is bringing with him information for all those who attend to do the same things he does in Philly to help advertisers get better results. Not words. Testing their commercials. That’s how he does it. No need to be replacing advertisers to make your nut. They will actually spend more which is why he is the market revenue leader with one FM station.
There is so much we could do to make it real and make it profitable.
Here’s a sampling of the areas that matter to most radio stations.
- 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’s even bringing valuable handouts that only you will receive.
Sean Hannity will join us live 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.
If you’d like to stay on-site at The Rittenhouse Hotel at special conference rates, there are now two rooms left (two were reserved yesterday afternoon) and 10 others at full rates. Mention you’ve registered for the “Media Solutions Conference” to get the best room rate available.
Breakfast, lunch and all breaks included. Starting time: 8am. Ends 4pm.
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