||Industry Principals Speak at the Radio Show Leadership Breakfast
Four of radio's chiefs spoke at the NAB/RAB Radio Show yesterday morning on a variety of topics during the Leadership Breakfast. Each expressed optimism for radio's future.
During the panel discussion, Mary Quass, CEO, NRG Media, said she is seeing reports that the outlook is good for an early Christmas. Now is the time to be selling retailers holiday campaigns.
Lew Dickey, CEO, Cumulus Media, believes the opportunity for radio in 2014 is improved inventory management and business development. These best-practices will be a focus for his company next year.
Jeff Warshaw, CEO, Connoisseur Media, shared his thoughts about the direction he has chosen for his company: Concentration on local research and promotion; fulfilling responsibilities that are intrinsic with being a local broadcaster; and helping clients ring the cash register.
Warshaw commented that people in radio were concerned when 8-track tapes came along, then iPods came along and other audio devices. But radio has withstood the increased competition and will continue to enjoy its share of listeners as long as we continue to put out quality programming.
The audio universe is expanding, Dickey pointed out. People have always consumed a variety of audio: records, tapes, radio. Other services like Pandora have replaced records and tapes. Radio still enjoys strong shares. Satellite radio is the exception, but still only accounts for 5% of what can be considered radio.
Larry Wilson, Chairman, L&L Broadcasting, has built his companies based on being live and local, thus the name of his latest venture, L&L Broadcasting. He finds success in having a live person on the air reporting on current happenings locally.
It is still early; perhaps "the third inning" for digital revenues. Wilson said we are making great strides, but we still have more work to do to generate revenue from digital. The more we focus on digital, the better it will become.
Quass spoke about the importance of support by broadcasters of the FM chip in Sprint mobile phones. We cannot just be on the phone; we have to optimize each station's presence in the NextRadio app. She pointed out that when a lot of people are concentrated in a small area, cell phones don't work well, and listening to over-the-air radio on a mobile phone is a listener benefit.
Dickey added that getting radio on the cell phone is important because that's what consumers want. They want to listen to radio and they want to listen using the device they carry with them.
Additional topics of discussion included radio funding, deregulation, challenges of digital, programming, and meeting investor expectations. A video recording of the complete Radio Show Leadership Breakfast will be available next week on www.radioshowweb.com.
(Source: John Potter, SVP/Professional Development, RAB)