I don’t always talk about radio in my podcasts these days. However when something most noteworthy happens, I do. Learn more in iHeartradio-Firings-Bankrupt-Media-Future-Bob Davis Podcast 893.
Displacements Or Firings?
Recently the biggest radio company in the United States unexpectedly announced it was firing over a thousand employees. Especially relevant is the fact that the company used such obtuse language in its press releases, it confused news writers and listeners.
You Got A Future?
Moreover this event has kicked off a lot of discussions about the ‘future of radio‘ in this country. In addition suddenly all my friends and clients are asking me to comment.
First of all, radio doesn’t have much of a future. At least not as we have known it. I’ll tell you why in iHeartradio-Firings-Bankrupt-Media-Future-Bob Davis Podcast 893 and in a recent podcast I did about the history of top forty radio. You can find it here.
Content Creators Struggle Too
It’s All About Revenue
While it seems like everyone who has ever worked in the radio business has an opinion about how iHeart ‘screwed up’, the bottom line is revenue. An industry that scaled to a certain point based on the old business model, simply can’t support that scale anymore.
In contrast various forms of digital marketing are all the rage, sucking all the revenue from ‘traditional’ forms of advertising as well as media production. Digital platforms are producing huge numbers while we haven’t quite figured out how to monetize individual content creators very well yet.
Disruptive Technologies Rule
Finally we’re living through an extraordinary moment in history. Due to disruptive technologies we’ve seen more traditional businesses destroyed and whole industries laid to waste. Broadcast radio and television are just two of them.
Tower of Babel
On The Beach
In conclusion it’s tough to lose your job no matter what you do. Because of the realities in radio these days, I am afraid there will be many more people on the beach.
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iHeartradio-Firings-Bankrupt-Media-Future-Bob Davis Podcast 893