I'd like to thank "TheBigA" and "David Eduardo" for their magnificent demonstration of why radio is in its current state. They are the unfailing representatives of the "iHeart way", which infected several other groups who have either followed them or realized the folly of their ways and have diverged - at least somewhat - from their practices. I'm sure they'll be at the forefront promoting AI as a replacement for live bodies in broadcasting. I can hardly wait for that form of "entertainment" to take hold.
No, we will be, as most of us have been for decades, at the forefront of asking listeners what they like and trying to provide it for them.
I don't know what you refer to as the "iHeart way". Following the Great Recession more than a decade ago, radio revenues dropped considerably. Add in the effect of PPM, which showed actual listening time to be about 35% less than in the diary, which caused proportionate rate reductions. So, as a result, station owners, whether in New York and LA or Bemidji, MN or Elko, NV, had to adjust to about 65% less revenue today than in the year 2000.
At the same time, we'd been seeing since the 90's a change in what listeners wanted as far as air talent. The days of "Teddy Turntable" talking over the intro and showing his skill of hitting the post are gone. One of the examples was the huge success of Jack and Jack-like adult hits formats with no live jock; like the "Un-Cola" we had the "Un-Radio" because people who listen did not want the same things as they did in the 50's and 60's.
In most of the rest of the world, station groups only invent the wheel once, originating in a main city and rebroadcasting over dozens if not hundreds of transmitters and boosters all over each nation. In other words, the model US networks had in the "Golden Age" of the 30's and 40's and which TV has today.
And then there is the simple fact that radio is not in the transmitter and tower business. We are in the audience-delivery-to-advertisers (or supporters for public radio) business. AM and FM don't matter... it is about people wanting our product on all delivery systems. And the fact that most delivery systems preferred today are at least national, we need to look at our product as national, too.
Sure, we can create a national brand with streaming the main distribution channel, but we can also supplement with local radio that contains certain localized elements like traffic, weather, sports and news if appropriate. But we can't continue to do 70's radio today.
Those of us who actually do the job should be thankful that we have our little "careers" while they last. After all, we know how cushy it is to just do "four and out the door", spending most of our time waiting for the computer to do the real work.
And, if a good personality is not doing at least a handful of stations as well as participating in the online presence of the brand, they are already out of date.
Thankfully, there is some management out there that's more enlightened than our resident Big Corporate Apologists. They're the ones who haven't gone bankrupt - in some cases more than once - or have emerged from bankruptcy and changed their approach by replacing the people who drove them there in the first place. There's a reason that Farid & The Dickey Boys are essentially out of the business. Even the old Jayco boys who started Townsquare are now on the sidelines. I wouldn't call Enter- uh, Audacy or iHeart particularly healthy at the moment. We'll see how that goes...
Farid and Dickey got where they are because they were not visionary, paid too much for stations and did not know how to actually run them.
Dickey's company looks like it may have a second bankruptcy under the management of a person who was hired due to her experience in bankruptcies. And Farid, who was never a radio person, is out of it anyway.
iHeart was not hurt by programming and station management. It was nearly destroyed by a consortium of investment bankers who paid way too much to the Mays group and was, then, hit by a horrible recession. Since then, the management has been trying to recover while moving as much towards new media as they can.
Townsquare now gets half its revenue for new media, but they use radio as a nucleus because radio still reaches about 90% of the adult population weekly.
Yeah, lots of things have been done "wrong" in retrospect. My big gripe is with transactional buying, which is causing more harm to revenue than not having a live jock form 7 PM to Midnight.