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Can Off-Air Assets Lead To More Revenue?

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(5/14/2013 9:20:52 AM)   Flag as inappropriate content
I do understand frustration in looking at digital assets and the approach of most radio stations.

My sister in law recently ask me at a family event why “radio station websites were so crappy.” So, I am aware (as are listeners) when broadcast companies are paying lip service to their digital assets.

There are a lot of pitfalls out there when it comes to these digital and strategy or lack-of-strategy. However, like with other things in life, the misunderstanding revolves around perceived value. Once radio operators can be shown the significant digital revenue value of these assets, some broadcasters will show respect to what they are doing in digital and move to capture the revenue.

I don't think most of the broadcast companies are yet hunting with the right philosophies for capturing significant reoccurring revenue. Many have tried digital using the same approach and sellers they have for radio with consistent poor results. This challenges them to see there is another way.

There is a more pronounced focus on digital right now in and outside of radio. That's because of the explosion of digital revenue and the continued prediction of what I call "traditional advertising leakage" to digital products in market after market. Those broadcasters and companies who seek and find true tools and successful new sales strategy(not tricks) that can turn into major revenue streams will benefit the most from their digital attempts to create new revenue because solving problems for local listeners and advertisers is still the business model that works the best. Radio is still about bringing value to our local core customers.

Radio CAN capture significant reoccurring revenue. There are specific things that can be done to get on the path now and generate revenue pretty rapidly. Broadcasters just have to know where to look and have a serious desire to learn some new strategies to make it happen.

With the explosive digital growth we are seeing in revenue, there is no such guarantee about radio failing to capture our share of that revenue. Radio has a very, very large CUME in market after market and is in a powerful position to take advantage of our strategic strengths that other media just doesn't have.

The question will be: Which radio companies are serious about capturing revenue based on having the best digital products that work with the synergy of radio and solve real problems for local business owners?

Ronald, I understand your frustration. It is difficult to love radio as much as many of us do and have vision for what digital can be for our industry while watching a lot of struggle and waste as broadcasters look more and more at digital tricks instead of opportunities and largely have current disappointing websites for their core products. Hopefully this will change in the near-term. I certainly hope it does. Thank you for your comments.

- Loyd Ford

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