Latest CC rumor

[TheBigA]

You have a different viewpoint, I can respect that, but it's not the way I'm seeing the industry. I see it flushing itself down the drain and taking it's people with it.

I see it changing, adapting to new audiences and advertising marketplace. Workers either have to adapt as well, or be left out. That's the way the game is played. Whoever told you that being an employee was the way to get rich lied to you. Especially in broadcasting. No one gets rich taking the safe way with salary and benefits. The suits get rich because of stocks and commissions. You get in that track, and you might get rich. And CC was a radio-only company when it began its expansion in 1998. They've diversified a lot since then. Lots of companies in this country are owned by investment firms. That's because the banks aren't loaning money any more. But you'd be surprised how many companies we all deal with every day are owned by investment firms, and how many personal retirement funds are supporting those investments. Maybe even yours. Everyone has blood on their hands, not just the CEOs.

 

[JustPastBuffalo]

LMAs began in the 80s.

Citation please. I worked at the first LMA in Buffalo. That was 1993.

 

[radiobum]

At least with consolidation we don't have to hear about some loser 9 yr old crying about their lost puppy. Although, sometimes its would be nice to end a break with something other than "dot com"...but anything else doesn't do anything for the bottom line. And be honest, did any of us give a rats ass about the puppy?...only if suckers would call begging for its safe return...close to tears always a plus!

Yeah it'd be horrible if LOCAL radio stations actually mentioned lost dogs or missing people instead of the latest Lady Gaga news before playing another piece of crap R.E.O. Speedwagon song !

 

[calguy]

You have a different viewpoint, I can respect that, but it's not the way I'm seeing the industry. I see it flushing itself down the drain and taking it's people with it.

I see it changing, adapting to new audiences and advertising marketplace. Workers either have to adapt as well, or be left out. That's the way the game is played. Whoever told you that being an employee was the way to get rich lied to you. Especially in broadcasting. No one gets rich taking the safe way with salary and benefits. The suits get rich because of stocks and commissions. You get in that track, and you might get rich. And CC was a radio-only company when it began its expansion in 1998. They've diversified a lot since then. Lots of companies in this country are owned by investment firms. That's because the banks aren't loaning money any more. But you'd be surprised how many companies we all deal with every day are owned by investment firms, and how many personal retirement funds are supporting those investments. Maybe even yours. Everyone has blood on their hands, not just the CEOs.

My father didn't lie to me and he never said I would get rich. As one of the greatest generations who lived through the depression and WW II his advice was to get educated, work hard and take your craft seriously. I did that, and I've adapted as you've said. A lot of radio companies were led by broadcasters at the start of all the change, but they got greedy and then got caught up in the economic downturn.
A lot of us, myself included had stock in radio companies, but that proved to be a poor investment and for me was a harbinger of things to come. It's a big stinking mess and it's not going to get any better with more deregulation...

 

[borderblaster]

You really can't report ever lost dog in LA. Everyone would fall asleep from boredom

 

[michael hagerty]

I've listened to Los Angeles radio for more than 50 years. I have never heard a lost dog report on a metro L.A. station.

 

[garnet]

In my post regarding the puppy, I was being sarcastic. Its just one example of the lack of "serving the community" most stations have no interest in any more. In fact, anything that would fall into that catagory is just thrown up on the website or facebook. How great are we for doing that! We're super! BTW, I never cared about the puppies, but a 36 year old mom of two? She'd leave her kids in the minivan and cross three lanes of traffic to save that little cutie.

 

[Bug on the rug]

Bottom line: Radio has become less relevant in people's lives due to technological advances (iPod, iPad, iPhone iTunes, Apple TV, et. al.). The business is contracting exponentially ... seemingly by the quarter. CC realizes this, and is planning for a very scaled down version of radio in the years to come. Gone are the lavish Christmas parties, lengthy radio careers, big salaries, bennies, bonuses, job security, commeraderie ... and fun. :'(

 

[calguy]

Bottom line: Radio has become less relevant in people's lives due to technological advances (iPod, iPad, iPhone iTunes, Apple TV, et. al.). The business is contracting exponentially ... seemingly by the quarter. CC realizes this, and is planning for a very scaled down version of radio in the years to come. Gone are the lavish Christmas parties, lengthy radio careers, big salaries, bennies, bonuses, job security, camaraderie ... and fun. :'(

And isn't it sad... CC will someday be a series of voice tracked channels, one for every format. As someone who knows, they stopped the Christmas parties in LA long ago.

 

[davideduardo]

As someone who knows, they stopped the Christmas parties in LA long ago.

Practically every company with any sense stopped Christmas parties years ago... the liability issues when you have a company sponsored event where any alcohol served are enormous.

This is not a radio issue... it is the product of laws, the legal system, heightened awareness of the consequences of DWI, etc. and it affects dog food distributors as much as it does media companies.

 

[radio-darn]

Exactly why CC is pushing iHeartRadio so hard.

Smoke and mirrors to make naive investors and analysts believe that Pittman knows what he's doing.

 

[radiojomo]

And isn't it sad... CC will someday be a series of voice tracked channels, one for every format.

Well, that's the future of radio. Not necessarily because it has to be that way, but mainly because of poor decisions CC made, they'll just consolidate everything into having a few people run every radio station they own, doing all their business in one major office in San Antonio.

 

[Bug on the rug]

CC's terrestrial music stations are turning into satellite radio music channels. Like you said, just a few people employed to run a multitude of stations. That's where iHeart Radio comes in. Who wouldn't want satellite radio for free albeit with spots!!? Meanwhile, talk and news programming budgets will remain shoestring.

So, class, does anybody really believe CC is done consolidating and won't cut any more employees?

 

[TheBigA]

CC's terrestrial music stations are turning into satellite radio music channels.

THat's what people thought ten years ago when CC bought all the stations, and it didn't happen.

 

[calguy]

CC's terrestrial music stations are turning into satellite radio music channels.

THat's what people thought ten years ago when CC bought all the stations, and it didn't happen.

But if you see what's being done at CC right now, it's already under way. Just give it time.

Personally I think that those running CC are delusional. I don't believe they'll ever be able to pay down the 20 plus billion dollars by cutting costs alone...

 

[TheBigA]

I don't believe they'll ever be able to pay down the 20 plus billion dollars by cutting costs alone...

That's not what they're doing. Just like the US can't cut itself to saving $16 trillion. Not gonna happen.

 

[radiojomo]

CC's terrestrial music stations are turning into satellite radio music channels.

That's what people thought ten years ago when CC bought all the stations, and it didn't happen.

Ever heard of "Premium Choice"? CC is only going to expand that programming idea as time progresses, revenues stay flat and that big doomsday to pay off all that debt comes along.
I mean, it's not like the audiences know the difference between voice tracking and a local DJ!

 

[TheBigA]

Ever heard of "Premium Choice"? CC is only going to expand that programming idea as time progresses, revenues stay flat and that big doomsday to pay off all that debt comes along.

Do you know what Premium Choice is? It doesn't come from San Antonio, or any other centralized place, like satellite radio music channels.

"Revenues stay flat?" Do you have a date when they will return to where they were 20 years ago? Because until then, ALL companies will need to cut expenses, regardless of the debt they're carrying. As I've been saying throughout this thread, operating costs are going up, revenues are staying the same, so personnel takes a hit. This has nothing to do with 2014. That's a whole 'nother deal.

 

[radiojomo]

Do you know what Premium Choice is? It doesn't come from San Antonio, or any other centralized place, like satellite radio music channels.

"Revenues stay flat?" Do you have a date when they will return to where they were 20 years ago? Because until then, ALL companies will need to cut expenses, regardless of the debt they're carrying. As I've been saying throughout this thread, operating costs are going up, revenues are staying the same, so personnel takes a hit. This has nothing to do with 2014. That's a whole 'nother deal.

Premium Choice might not be centralized from one studio in San Antonio, but it is consolidation. Basically using a handful of DJs to create content for all radio stations around the country. That's consolidation. This idea will only evolve as CC sees that it'll reduce costs. That's what's at hand here. Consolidation is the future of Clear Channel.

 

[TheBigA]

Basically using a handful of DJs to create content for all radio stations around the country. That's consolidation. This idea will only evolve as CC sees that it'll reduce costs. That's what's at hand here. Consolidation is the future of Clear Channel.

But the key is that revenues are staying flat. You can't pay for people when revenues aren't growing. That's not just a CC problem. It's a problem everywhere, including companies w/o debt like Mt. Wilson. It's also a problem for lots of things besides radio, including federal, state, and local governments.

As for Premium Choice, it's a whole lot more than a handful. More like hundreds, and those DJs get to be heard in lots of markets, which is great for those DJs. People don't get in this business to be hometown heroes.