There is no denying the major radio consolidators are in over their heads in debt.
They must reduce their workforce, cut expenses and make decisions that actually hurt their chances of building audiences and revenue in an age of unprecedented media competition.
You sense that the tide is changing toward smaller, locally focused operators who may not be as big but have the ability to take advantage of their large competitors’ weaknesses.
But there is a sizeable list of strategic moves that can turn the tide against these giant competitors who have adversely affected audiences and ad rates.
I’m working on this list now for those who are planning to attend my March 26th Philly media conference and thought you’d like to see a few items:
1. Raise rates modestly as a competitive move. Consolidators cannot afford to do this. They must drop rates or use bogus digital incentives to effectively lower their prices.
2. Reduce available commercial units per hour. This is the airline approach to radio revenue. Pressure inventory by eliminating as few as 2 units per hour. This also serves to force debt-ridden consolidators to irritate listeners with stop sets that are too long to survive.
3. Buy the other company’s morning talent when they let them go and do a digital video partnership with them. I will show you how to do it inexpensively and without having to pay the competitor’s ex-morning personality one single penny.
4. Kill them with music discovery. Consolidators cannot afford to do local music curation but unfortunately most locally focused smaller companies don’t fully understand what local music curation really is. They had better because streaming music services are cutting into music radio station audiences.
5. Greatly expand the sales staff while money strapped competitors are letting sellers go. Take their best and go find more. Mel Karmazin used to say that to increase radio sales, hire more sellers. Obviously, radio isn’t listening but guess who is? Pandora. And the truth about how successful they are at local selling is revealing.
I wanted to run some of these strategies past you.
And I hope you can put aside a day to be part of this unique learning seminar now in its 5th year.
The Philly conference is focusing on 7 critical things that will make you a better broadcaster or digital entrepreneur.
- Disrupting radio. Digital competitors are doing it to us now but the answer is plain and simple: we must do it to ourselves. They are winning.
- Master digital. Digital isn’t an add-on to broadcasting. You’ll see it all differently when you go to school on how effectively a radio station can start a profitable separate digital revenue stream. I will share.
- Dominate social media. Facebook and Twitter are out, don’t exit with them. Social networks you start, run, monetize and keep all the profits from – that’s what we’re going to get to.
- Reinvent radio. There are 15 to 25 things that can be done within a week of leaving Philly that cost you nothing more than the price of admission that can transform an antiquated approach to radio to one that even the next generation can embrace. Real take-home pay.
- Video is your future. I will play video from the best of the best – entrepreneurs who haul in $3 million a year by doing a free 5-minute weekly video. No commercials, banner ads, product placement or subscription fees. But a special secret path to monetization that you should adopt. I’m going to.
- Conduct a Millennial makeover. Generational listeners 30 and under are available to you for the taking if you know what they want. And as a USC professor who developed courses in generational media, I’m going to share the latest with you.
- Time shift radio. Broadcasting is out. Audiences want on-demand. Binge watching is in. Morning shows are no longer morning shows. This is a definitive look at how to time shift radio and catch the hottest trend of the past two years.
I’m putting lots of time aside this year for questions.
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 person.
Complimentary breakfast starts at 8 am. Session begins at 9 am at the beautiful Rittenhouse Hotel. Buffet lunch and all breaks included. Conference ends at 4 pm.
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- A Cumulus Threat to Market Managers
- Blowback Over Audacy’s $825,000 Employee Contract
- Programming to Short Attention Spans
- How ChatGPT Can Help a Radio Station
- Radio Groups Pressured to Cut Staff
- Video Podcasts More Popular Than Audio
- How Radio Will Beat FTC’s Non-Compete Ban
- Audacy Bankruptcy Becoming More Likely
- Townsquare May Shut More AM Stations