"Just met with two key media buyers in new york. the dickey's are right on.
westwood one is done. so are several others. very soon. radio and tv are both retracting.
this is not internet blather. the Dickey's are simply saying, what New York is telling them.
be well friends. send out resumes NOW."
You could take this statement and apply it to a number of other industries in our economy quite easily. This problem is not confined to radio. We are part of a major economic downturn not seen in recent history. Every sector of our economy is going to be affected, and lots of companies with high debt loads are going to go bankrupt. This country is losing close to 300,000 jobs a month.
However, the LAST thing anyone should do in this situation is panic.
Focus on what makes you valuable where you work. Usually that means how you contribute to revenue. If you can write and produce good commercials, come up with good promotional ideas, or come up with creative ways to add clients, you can survive.
And these concepts apply to everyone with a job, not just radio people. It's an unavoidable fact that the economy is going through a major retraction. How you choose to deal with it is up to you.
Back to the subject of the post..........the Dickeys are going to be affected by this downturn as well, no matter how much Lew spins it. They're going to be selling radio stations next year, along with all the other consolidators. I think this is ultimately good for radio. Lew's right about one thing: radio's fundamentals are sound, as is the number of people listening. The problems radio faces were self-induced by the current ownership. . The problems that Lew "observes" about radio were created by himself and the other large group heads. I doubt that the consolidators will be going away, unfortunately. But when their influence is reduced, radio will begin to recover.
