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Radio Industry Only Needs to Look at Water
Reuters is reporting that participants of last week's "Reuters Media and Advertising Summit" think radio is at a "perfect storm." On demand audio programs, satellite radio, and overcommercialization of broadcast programming are the three storm cells that are converging. The advertising community views these problems, when conjoined, as devastating to radio as Katrina was to New Orleans.
In response, here is the phrase bounding from Clear Channel's Radio CEO John Hogan's lips: "Why would you pay for something you get for free?" Mr. Hogan, you're not listening.
Not to nail John Hogan, because that's the same line coming from every radio group CEO today, but it just seems that none of them have read the history of the bottled water industry or cable television.
Radio execs are creating another problem for themselves by not addressing the real issues as to why anyone would pay for something they otherwise get for free. It may not be the case with water, but for radio, the product content is better.
The radio industry has an opportunity to create one radio-centric online solution to a many-pronged attack. Instead, it keeps downplaying paid-audio consumption because it doesn't believe it makes sense to pay for something you can get for free. That doesn't make sense to me.
Put the programming issue aside for a moment. Look strictly at what radio could do for advertisers if it used the internet properly.
Radio, with its reach into the local community, has the ability to define an online destination. If the industry would create a single web site to expand all radio advertisers' messages, then unite in publicizing
this sole radio advertising web site, the industry would find itself offering more of what today's advertisers are chasing - a spot online. It would also give the public another destination like Amazon.com, where everything can be marketed and sold.
I have written about such a system many times. But after eight years of failing to get someone in the radio industry to take notice, I'm convinced these industry bigwigs will never acquire the online knowledge needed to bridge this important advertiser need.
It's much easier, and cheaper, to continue claiming people won't pay for something they can get free - even if that statement is wrong.
Related Article:
Reuters
Posted:
12:52 12/5/2005
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