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Radio is Dead (and not just AM)

JoshTheRadioDude said:
Off-topic? Absolutely not. It was decidedly ON-topic. I was talking about the technology that's picking up the slack where the original post had pointed out that radio was failing.
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The problem is that you took the premise of the original post as truth, and built your case on a non-existent foundation.

(The original post describes reception difficulties in even the barn-burning, flame-throwing signal areas of the LA and IE radio stations, indicating the problem was the car radio and not radio itself.)
 
JoshTheRadioDude said:
It's well-known fact what I'm saying is true... except on radio message boards where people such as yourself choose not to see it. And I've told you before that the evidence is freely available. You refuse to look it up. That's your fault, not mine.
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Please name us a few sources.
 
JoshTheRadioDude said:
Keep lying to yourself. You're fooling no one.
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Neither are you. As I said, I'm an ex-smoker. Ex-smokers have a lot in common with ex-radio guys. We both think folks who still do what we quit are nuts. And we love to talk about it. Let me tell you about smoking. Did you know that it can kill you? There's lots more where that came from. Just wait. I've got a whole lot I have to say about smoking. And you're the perfect person to tell. Because you'll understand.
 
I don't seek to fool anyone, I'm the one living in reality. You simply can't handle it. It just eats you up inside. Believe me, I know your type. I've dealt with people like you all my life, because they gravitate toward people like myself simply for the fact that they can't tolerate a vocal person who speaks the truth. You harass, you intimidate, you troll, you behave like a spoiled, stubborn little five-year-old who can't get his way.

It's over. You've lost.
 
JoshTheRadioDude said:
It's over. You've lost.
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I feel the same way about smokers. I've dealt with them my whole life. Now I'm free. I'm living in reality, and they're still locked in with the ball & chain. How can anyone live that way? Don't they know they're going to die? It's really eating them up inside. I mean REALLY. When I tell them the truth, they walk away. They can't tolerate a vocal person who speaks the truth. But I don't let them off. I move closer to them and continue to tell them they're going to die. And it won't be an easy death either. I love talking about it.
 
JoshTheRadioDude said:
Keep blathering, troll.
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Thanks! I love talking about smoking. People know that smoking is bad for them. We ex-smokers have pushed for all kinds of laws that make it difficult for them to smoke in public. No smoking in malls. No smoking in offices. No smoking in schools or on planes. I was sitting next to someone on a plane and they were so nervous. They took out a cigarette while we were in the air, just waiting for the plane to land so they could get off and light up. But they couldn't until they got to a smoking lounge. We're trying to outlaw them too.
 
DavidEduardo said:


Yes, CBS billed $1.355 billion last year from 126 radio stations. That's an average of a bit more than $10 million in billing per station.
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That doesn't sound like a dead industry to me. I bet there are other other companies that would love to have those numbers. How does CBS rate in comparison to other companies? People like to talk about some bleeding money, and maybe they are on some stations while making a decent amount on others.
 
JoshTheRadioDude said:
I don't seek to fool anyone, I'm the one living in reality. You simply can't handle it. It just eats you up inside. Believe me, I know your type. I've dealt with people like you all my life, because they gravitate toward people like myself simply for the fact that they can't tolerate a vocal person who speaks the truth. You harass, you intimidate, you troll, you behave like a spoiled, stubborn little five-year-old who can't get his way.

It's over. You've lost.
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Do you know Fred Leonard?
 
mimo said:
That doesn't sound like a dead industry to me. I bet there are other other companies that would love to have those numbers. How does CBS rate in comparison to other companies? People like to talk about some bleeding money, and maybe they are on some stations while making a decent amount on others.
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I would guess that all the major radio companies are profitable based on operations. That's what is called "EBITDA" which is earnings before interest, taxes, depreciation and amortization. The companies in difficult financial situations are those that were more highly leveraged, and have large interest payments to meet.

Were it not for the recession, even the highly leveraged companies would be profitable and meeting their debt service.
 
One of the worst positions one can get into as a long-term investment is to be gaining an increasing share of a declining industry. Those in that position usually do well individually, and can be pointed to as "proof" that the industry is doing well. The trick is calculating the right moment to leave just before the bubble bursts.
 
Avid Listener said:
One of the worst positions one can get into as a long-term investment is to be gaining an increasing share of a declining industry. Those in that position usually do well individually, and can be pointed to as "proof" that the industry is doing well. The trick is calculating the right moment to leave just before the bubble bursts.
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There is no "bubble" to be burst here. A "bubble" occurs when something is inflated beyond reality, but radio broadcasting seems, if anything, undervalued at this moment.

It remains to be seen whether radio companies can transition to new media with the level of usage and sales it is currently accustomed to. But in the meantime, good radio stations can provide excellent cash flows and high margins compared to other industries.

This is something like buying a producing oil well, individually or in an MLP. In either case, one knows that the well will eventually run dry and will have no residual value. But pricing takes this into account. If the annual returns provide decent income as well as a return on capital that covers depletion, then this declining asset is a very good investment.

At some point, over the air stations will have transitioned to new media and either prospered or not and the AM or FM station will be turned off.

No bursting bubble, and good opportunities in the short to medium term as well.
 
landtuna said:


I don't remember anyone saying radio is dead. Just that it is a dying industry. Many insiders have agreed with that compared to what radio used to be.
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AM and FM are declining. New media radio is surging. The issue is more about which companies and stations will transition well into new media versions; "radio" is not dying... just its oldest distribution channel is.
 
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