No, but now’s the time to make some changes.
By Jon Holiday ~ Managing Partner Radio Consulting Services
There’s no shortage of “so-called” experts saying that radio is an old-fashioned dying media that doesn’t work anymore. But far fewer offer potential solutions, especially in programming stations. Well consider this a start.
We’ve heard it hundreds of times, radio is dead or at least dying. The truth is that radio has more competition for listeners than ever before. And it’s not just the music radio stations. All stations are being impacted by increased competition for our existing listeners and new listeners.
According to a musonomics study that was conducted, it’s noted that music remains the lifeblood of the radio industry. However, today’s listener has access to “virtually unlimited choices for audio and music consumption.” So, what can broadcasters do?
“To survive in the digital age, broadcasters must invest in “strong and compelling digital services”
For the terrestrial medium to survive, broadcasters will have to “embrace a new vision for their content.” That includes moving toward a “more communicative experience in line with millennials and other younger generations.”
In addition, the study goes on to say,
“[The medium] needs to invest in strong and compelling digital services. If it does, [broadcasters] can look forward to a robust future built on the strong foundation it already has in the marketplace.“
“If it doesn’t [innovate], radio risks becoming a thing of the past, like the wax cylinder or 78 RPM record – fondly remembered but no longer relevant to an audience that has moved on.”
Speaking about the terrestrial medium, Scott Burnell, Ford’s Global Lead of Business Development and Partner Management, has a simple message for broadcasters. “My message is evolve or die.”
The study issued a strong warning for the terrestrial medium should it fail to innovate.
The report cites more reasons why the terrestrial medium may fade out if it fails to adapt to the rise of digital services. To learn more about this topic you can download the free musonomics study: Paradigm Shift: Why Radio Must Adapt To The Rise of Digital here: http://musonomics.com/musonomics_report_paradigm_shift_why_radio_must_adapt_to_the_rise_of_digital_08.29.2017.pdf
About Radio Consulting Services
Radio Consulting Services is the multi-format consulting and programming services company advising stations on how to grow their audience. Every day, our winning Programming and Consulting team keeps radio stations on top. For more information on how Radio Consulting Services can help your company gain more listeners, achieve higher ratings and grow revenue, contact Jon Holiday.