Businesses, in order to survive and thrive must be able to adjust and always look forward and look for other opportunities.
That is just as true for Broadcasters, too.
We can all lament on the so called “good old days” when you could just sell spot radio and all was well for both your radio station and your advertisers.
Those were the days when competition was the local newspaper, a TV station or two in the market and maybe a handful of other radio stations that were not direct competitors, format wise. There was no internet, certainly no smart phones and even a cap on how many radio and TV stations a company could own. With few exceptions newspapers couldn’t own broadcast properties in their market.
You noticed, it isn’t that way anymore. It does no good to complain about it, but to determine how you can exploit it. We all did early on, by introducing packages and promotions and non-traditional revenue and a half dozen other great ideas to maintain and increase revenue, because we couldn’t live on just selling spot radio.
Now comes a report that was prepared for radio groups by a third party forecast that overall revenue is expected to decline in radio by 2.6% for 2018; 2.9% for 2019, 3.4% for 2020; 3.7% for 2011 and 4.1%, through 2022.
Where is it going? DIGITAL
It’s time to get our head out of the sand and realize that DIGITAL and RADIO is a fantastic partnership, using branding on-air and a call to action through digital.
Newspapers and print media figured this out a decade ago. Look where their core revenue went.
At The Media $tore we can be that partner with your radio stations to oversee the marriage of radio and digital that delivers strong topline revenue with much flowing to YOUR bottom line.
These are the “GOOD NEW DAYS.” Take advantage of it for the benefit of YOU and YOUR advertisers.