Read Eric Rhoads' Blog
More From Radio Ink's 'Top 40'
WEST PALM -- July 13, 2009: Radio Ink has just released its annual list of the 40 Most Powerful People in Radio. We profiled the "Top 40" in the January 6 issue -- but that wasn't all they had to say. Below, what some of these influential execs have to say. To purchase the January 6 issue, call 561-655-8778; to subscribe to Radio Ink, click here.
Why is radio still a good business? What advantages does it bring to the world of new media?
Don Benson: Even with the economic challenges we're all facing, radio still remains a very viable business. The broad reach and free cash flow components are strong attributes, of course. And our clients can reach a specifically targeted audience with an impactful message at an efficient and reasonable price -- all in a short turnaround time.
And while the business definitely has changed from the past, there are encouraging opportunities for us ahead as well. New media is one of them, giving us the ability to provide multi-platform solutions for our clients. There's a lot still to be learned here, but I think that the stations and advertisers that are willing to invest and execute wisely will see unique opportunities -- and some pretty special results -- that can be generated for their businesses.
David Landau: Radio is still a great business! The June RADAR release showed radio’s reach at 235 million listeners. The ability to place your message in front of such large audiences and at the same time leverage local relationships and communities is unparalleled. It is this connection that will help drive new media opportunities and traffic to new media outlets. Triton Digital has already demonstrated this power, helping radio stations and personalities bring their communities online and extending their content’s reach and touch points.
Gary Stone: Radio is as viable now as it's ever been. We not only continue to reach millions of listeners daily, but engagement with our audiences continues to grow. This combination of reach and engagement makes radio a very effective medium for advertisers. Among Hispanics, radio represents more than simply an entertainment outlet, but a platform to keep the community informed and connected. Additionally, digital platforms present great opportunities for collaboration with radio to increase distribution and deepen audience engagement. After all, radio has been an interactive media for a very long time. We do face one key challenge: Aribtron's rollout of the Portable People Meter prior to addressing the multiple flaws in the sample, which currently undercounts minorities. This will have a severe impact on minority-serving radio, which will be devastating for our communities if not addressed immediately.
Bob Neil: Radio is a great business. Our audience is growing, we’re a highly targetable medium, and we deliver results for advertisers that understand how to use us. Despite all the talk, radio continues to reach 90-plus percent of the population every week. Our digital assets are enormous. When you include streaming, podcasting, and other interactive tools, we bring those same sets of assets over from the over-the-air broadcast to the Internet. Our audiences are engaged with our brands, and that’s the perfect atmosphere for an advertiser.
George Beasley: During each of my 47 years in this business, I have believed radio to be a good business. I've witnessed both ups and downs, and I’m convinced that radio's ability to reach targeted demographic audiences, serve local communities, and offer listeners portability without subscription fees make our industry viable in this weak environment.
Furthermore, I'm convinced that our industry's resilient nature and ability to adapt to new and emerging technologies provide a competitive advantage to advertisers over other forms of media. Radio provides advertisers with unique new opportunities through emerging media channels and platforms, including HD Radio. The fact that nearly all broadcasters, Beasley included, now have members of management solely devoted to developing and deriving new revenue streams from new media channels, speaks to radio's commitment to the world of new media.
Mark Masters: Dollar for dollar, radio still brings the best bang for the buck, but people don't realize this on the level they should. If the creative is spot-on and radio reps help their clients focus on use of easy-to-remember website names or phone numbers, ROI is amazingly strong. But this requires radio sales folks to think entrepreneurially, to care about their clients' ROI -- and when this happens, you get renewals. Renewals mean sustainability.
