Radio Leaves Money On the Table - Page 3
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Thread: Radio Leaves Money On the Table

  1. #21
    Quote Originally Posted by Kelly A View Post
    Here's a good example of a traditional media/broadcaster that created a successful digital platform and is now reaping the diverse benefits:
    https://www.usatoday.com/story/money...noff/89949476/
    This does not appear to be an operational and integration success of broadcast and digital but shuffling of assets. Gannett bought Cars.com from McClatchy in 2014. A year later, Gannett spun out TV and digital including Cars.com creating Tegna. Now Tegna is spinning off Cars.com and is thinking of selling Careerbuilder too. The article says TEGNA share are down 30% since the split last year.

  2. #22
    Quote Originally Posted by SaltyDog View Post
    This does not appear to be an operational and integration success of broadcast and digital
    OK, then consider Townsquare. They own a bunch of medium market radio stations plus 8 major music news sites plus several major music festivals. They're all integrated, and are all hugely profitable.

  3. #23
    Quote Originally Posted by SaltyDog View Post
    This does not appear to be an operational and integration success of broadcast and digital but shuffling of assets. Gannett bought Cars.com from McClatchy in 2014. A year later, Gannett spun out TV and digital including Cars.com creating Tegna. Now Tegna is spinning off Cars.com and is thinking of selling Careerbuilder too. The article says TEGNA share are down 30% since the split last year.
    The point being; a media organization being able to diversify their business portfolio using digital, other than a bunch of traditional station-focused websites with banner ads.

  4. #24
    Quote Originally Posted by TheBigA View Post
    OK, then consider Townsquare. They own a bunch of medium market radio stations plus 8 major music news sites plus several major music festivals. They're all integrated, and are all hugely profitable.
    I won't argue that. I don't know enough about them to say. I get the impression over a period of time that Townsquare is one of the better operators so good for them if they're doing it right.

  5. #25

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    Best advice I ever got was from a retired station owner that told me to own as much media as you can in the community you serve. He suggested audio on cable TV, website/online, print (a daily newsgram or weekly shopper) and radio. As he put it, our world has changed and the competing media is going after your dollars with a well reasoned argument to win those dollars and the more options you can offer the harder it becomes for them to win those dollars you currently are getting from the business. If you can't say "I offer that too and can coordinate everything to work in unison for better results", then you'll lose every time. I though that was advice worth paying for but luckily he offered it for free.

  6. #26
    Quote Originally Posted by b-turner View Post
    Best advice I ever got was from a retired station owner that told me to own as much media as you can in the community you serve.
    That's interesting and probably correct. I worked for Clear Channel after they bought AM/FM and I couldn't figure out their strategy. As it turned out, there wasn't any. Randy Michaels used to get on GM conference calls and say "We're still trying to figure it out." I understood intuitively that concentrating a bunch of radio stations in a market offered advantages. I didn't see how it was an advantage to own a bunch of radio stations all over the U.S. It makes sense to me that if you can concentrate multi-media ownership in a single market, that offers advantages too.

  7. #27
    Quote Originally Posted by SaltyDog View Post
    I didn't see how it was an advantage to own a bunch of radio stations all over the U.S.
    What was happening at that time was major retail was changing from local to national, and they realized that having a national platform made you attractive to national advertisers. Except the size of the platform, being radio-only, became too small. National advertisers wanted more than just national radio. That's where digital and other platforms came into the picture.

  8. #28
    Quote Originally Posted by TheBigA View Post
    What was happening at that time was major retail was changing from local to national, and they realized that having a national platform made you attractive to national advertisers. Except the size of the platform, being radio-only, became too small. National advertisers wanted more than just national radio. That's where digital and other platforms came into the picture.
    You may be right. The other thing I thought was odd was that we kept hearing "we're trying to figure it out" and I was thinking that I would have thought they had a strategy in mind when they bought all those stations. But it seemed like a gold rush at the time. Big companies but up a bunch of stations because deregulation permitted it and because there was plenty of money available to do it. The hangover continues.

  9. #29
    Quote Originally Posted by SaltyDog View Post
    You may be right. The other thing I thought was odd was that we kept hearing "we're trying to figure it out" and I was thinking that I would have thought they had a strategy in mind when they bought all those stations.
    Do you think Columbus knew what he would find when he sailed across the ocean? Do you think Tim Westergren knew that by creating a music-friendly site like Pandora he'd make something that was immensely popular, but at the same time unable to turn a profit? He was just trying to figure it out. That's part of the risk of being a pioneer. Marconi himself had no idea what he was inventing, or how it would become practical. He just wanted to do it without wires. Funny how we're back to the exact same spot we were 125 years ago.

  10. #30
    Quote Originally Posted by TheBigA View Post
    Do you think Columbus knew what he would find when he sailed across the ocean? Do you think Tim Westergren knew that by creating a music-friendly site like Pandora he'd make something that was immensely popular, but at the same time unable to turn a profit? He was just trying to figure it out. That's part of the risk of being a pioneer. Marconi himself had no idea what he was inventing, or how it would become practical. He just wanted to do it without wires. Funny how we're back to the exact same spot we were 125 years ago.
    That's an interesting take. Perhaps Jeff Bezos has no idea what to do with Whole Foods now that he's made an offer. My guess is that he does have a pretty good idea. Maybe he's wrong but I doubt he made an offer so that he could "figure it out" later.

    It would be one thing if Randy Michaels knew what to do with a national radio company and was wrong like Columbus, and Westergren, I just took him at his word when he said he didn't know.

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