With the massive iHeart layoffs this week, Houston stations are conspicuously absent from the lists of those let go. Was the market spared, at least for now?
Perhaps they’re being saved for something bigger. Spin off those assets.
Wait until next week to find out though it took a few days until some of the Sacramento and San Francisco former Iheart staff can come forward and confirm that Iheart removed them. Houston, Las Vegas and Honolulu are now some of the largest cities so far not confirmed to face the Iheart cuts though.
I have heard some people were let go in Houston, but nothing confirmed.
The lists you have seen online are all the people who were wiling to publicly say they were let go. Not everyone who was laid off wants to do that.
Heard from a friend in Waco, TX. I Heart let most of air staff go FOR ALL RADIO STATIONS, except PD for each station.
Most of the air staff had been gone already. Meanwhile iHeart has 4 of the Top 5 stations in Waco.
Zack & Jim are live & local on the #1 station in town. If you can't sell 4 of the Top 5 stations in town, you don't know how to sell.
If you can't sell 4 of the Top 5 stations in town, you don't know how to sell.
A 5 share today represents about a third of the people it did just 20 years ago.
Regardless, the point of advertising is to reach a mass of some sort. As the audience fragments there are fewer places where advertisers have a efficient way to reach thousands of people. The number may have been diluted from what it was 20 years ago, but its still more massive than individual streaming stations or local web sites. In a place like Waco, you need to have 4 stations in the Top 5 in order to have a sellable number to give advertisers. But that's the point. There aren't many other platforms that can reach that number. The bad news is you have to sell more to reach the same number.
However, radio's industry wide billings are estimated at perhaps $12 billion this year. That's down from an early-20th Century mark over $20 billion. And the inflation since then has made today's $12 equal to about 1/3 of its pre-recession value.
So that all explains why stations can't retain staffing levels as they were 25 years ago. Less money, less staff. Presto.
I see that in the late 40's WOR in New York had nearly 300 employees. I wonder how many they have now?
Maybe 15-20 assigned to that specific station.
However, consider in the 1940s, they might have had 40 people in just the engineering staff. They also still had the theater where they originated live radio drama and music performances, syndicated nationally on Mutual. That continued into the early 50s. So likely some of those 300 people also worked for Mutual.