Even for Radio Industry, A Picture is Worth 10,000 Words
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Over the last decade I'd conservatively estimate that many radio industry leaders stopped reading what is posted at Audio Graphics. I suppose a reason for this decline was the constant reference to their inability to comprehend the changing media landscape; mentions of them not responding to this change soured their desire to hear more. People tend to drift towards information sources that support their views. Publications that point towards a person's view being misguided are cast to the side, which may be a fundamental reason why the Fox News audience leans Right and MSNBC's Left. Each audience base seeks reinforcement of its own views.
An underlying theme here has been that plenty of opportunities exist - even with a depressed economy. But, one must make adjustments to take advantage of opportunity. The radio industry is now notorious for doing just the opposite.
"I told you so" is not a good statement, unless the one uttering those words is looking for gratification or a method to build their ego. Over time there have been multiple people with the right to make this statement to the radio industry CEOs who continually ignored warnings that change needed to be made. These folks have not said "I told you so"; the people who took it upon themselves to issue warnings did so based on a love of radio and a strong desire to prevent what we all now see as the demise of a once very proud industry.
To those who chose to believe Gary Fries in his last years as head of RAB, when he made constant referrals to radio positioning itself for the digital age, the shame falls on you. To the radio industry CEOs who continue to repeat phrases surrounding concepts indicating radio will pull itself out of this decline once the economy turns around, shame on you. To radio managers who blindly followed the mandates sent from above, without challenging the concept of cutting local staff for the sake of "improving" programming, you too share the shame of driving the radio industry into the ground.
Now, though, perhaps the need for change will sink in. If we are lucky enough to get some semblance of business sense in the ranks of radio's generals and field officers, they'll see that the way things have been done is not working and will be even less effective in the future.
Change is a fundamental process in life. Yet, with the exception of eliminating thousands of creative positions, we see how little the radio industry has changed. This is why I've chosen to display evidence needed to discourage the "stay the course" mentality used so far to disassemble the radio industry. These charts feature radio group revenue declines over the past year.
Digest these pictures; they are truly worth more than 10,000 words. The evidence presented by them will drive a reasonable person to only one conclusion: the radio industry needs to reevaluate its course and make changes rapidly. To ignore this, even for another quarter, will cause broadcast radio to drift into an area of business decline that has no hope of recovery.
We've long passed the stage where being told by radio industry trades that this decline will wane is to be believed; where industry leaders are quoted saying "The Environment Is Slowly Improving"; where the cutting of staff is positioned as improving the quality of radio programming. None will increase revenue like the act of going back to the local roots the radio industry was built on.
There are solutions that will do radio good, only if acted upon.
The internet is here to stay, and it must be incorporated more soundly into the game plan of radio - not with a continuance of what's been done, but with massive adjustments that will bring radio station web sites in-line with current trends in the public's desire for social media. Media buyers have also had their eyes opened wide by accountability provided through the use of analytics and metrics, a methodology still being ignored by those charged with selling radio advertising. (Reasons why don't matter anymore.)
Tens of thousands of internet radio stations will soon be available through WiFi in automobiles. That is the Waterloo the radio industry faces in about 5 years. Miss the chance to circumvent this obstacle and you may as well start dismantling all those radio towers. They just won't be as important.
That Audio Graphics has taken many arrows over this past decade is of no great concern to me. The company is well positioned to cater to our internet radio community (RadioRow) and the many independent artists looking for a way to promote their music (RRadio Music).
It's just that I have this very strong attachment to the broadcast radio industry. Radio gave me nearly three decades of challenge and enjoyment, and I do not want to see it cast into a subset of media used by a shrinking advertiser and audience base. My love for it rivals that given my wife and son.
It is not too late to put into place the elements needed to move into the future. It doesn't matter whether radio industry leaders read about the options here or elsewhere. Whether or not they implement these new concepts (which now are not new anymore) is the proverbial thought that keeps me awake at night.
How about you? Are the above pictures driving you to sleepless nights, too?
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