By Steve Outing
There’s no shortage of fretting about the future of the newspaper industry. But how about broadcast radio? Sure, I’d be worried about my long-term future if I was still working for a newspaper. But I’d be sending out my resumes if I worked in commercial radio.
Here’s a story about Merrill Lynch downgrading its 1Q radio outlook to no growth from an earlier forecast of a 1% gain. I’m shocked that the industry isn’t experiencing negative growth already. The audience is moving elsewhere, and advertising dollars increasingly are moving online.
iPods, podcasting, satellite radio, Internet radio, Pandora. … With those great choices, why would I ever turn on a commercial radio station? Most of them are tortuous to listen to. The only time I ever listen to commercial radio is in one of my cars which does not have satellite radio, nor a plug for my iPod. At the point that most cars offer better music choices, commercial radio will have evolved to something competitive, or die.