Innholdsfortegnelse for November 7, 2022 i Radio Ink Magazine

Perception can be two sides of the same coin. Here are two stories that teach us essential sales lessons about economics, the power of perception, and picking a strategic direction in good and bad times. The Hot Dog Vendor Once a man lived by the side of the road and sold hot dogs. He was hard of hearing and his eyesight was poor, so he did not listen to the radio or watch television. However, he did sell great hot dogs. He had put up signs by the road telling people how good they were. He would stand by his cart and call out, “Buy a hot dog," and people bought them. Demand for his hot dogs kept building, so he increased his meat and bun orders; he bought a…

Every good story - and every good ad - begins with a statement that triggers more questions than it answers. “I do not like to turn left when leaving my neighborhood…" “I was a 10-year-old boy holding a flashlight for my father…" “You are sitting in a candlelit restaurant when you hear a strange noise…" The second line of your story is where the narrative arc begins. The narrative arc is the sequence of events, the plot. You are sitting in a candlelit restaurant when you hear a strange noise and the walls are instantly covered with jagged shards of golden light. You hear another strange noise and the jagged shards of light are gone. Murmurs of wonder flood the candlelit restaurant. The jagged shards appear on the walls again,…

Collaboration is an area I feel we as an industry can still improve upon for the greater good of the medium. You can compete and still collaborate. We need to elevate our “frenemy-ship." We see it during times of crisis when we come together, but how do we truly commit to advocacy for our shared passion for the business on a more consistent and impactful basis? There are plenty of forces attacking the fundamentals of our business. We are stronger together to respond and react. While radio is the foundation, we need to continue to embrace the digital world and take a multimedia approach to everything. Almost no meeting should occur without a conversation that involves a 360-degree multimedia approach to marketing. I think we can do a better job…

In the second quarter of 2022, something remarkable occurred. The largest radio station transactions in nearly three years were agreed to, with paperwork filed at the FCC now awaiting regulatory approval. While that’s certainly news to celebrate, what fueled the welcome return to multimillion-dollar deals can be tied to a single transaction: Latino Media Network’s $60 million acquisition of nonstrategic assets sold by TelevisaUnivision. Eight other transactions last year were valued at more than $1 million. In the not-so-distant past, this would have been mildly disconcerting. In 2022, it’s reason to cheer, as S&P Global Market Intelligence found that the deal volume through June 30 surpassed all of 2021 and all of 2020. Interestingly, radio cash flow multiples have been somewhat flat since 2013. But deal volume has been in…

The first week of September 2003, I received a call from Streamline Publishing CEO Eric Rhoads, who wished to discuss a matter he believed was of critical importance to Radio Ink and the broadcasting industry. The country was just emerging from a major recession, and revenue sources were unpredictable. Radio Ink had already scored a major hit with its highly successful Streaming seminars, so we had a template in place from which to work. If we could come up with a way to offer radio owners, group heads, and general managers an inside line on the ever-changing industry, we believed we could hit a grand slam. The call that September morning didn’t last long. Eric and I instantly agreed that a high-end financial conference would be a boon to the…

Tim McCarthy is president of the Broadcasters Foundation of America - the only organization that improves the quality of life for people in radio and television who find themselves in a financial struggle due to critical illness, accident, natural disaster, or other misfortune. McCarthy took over the position after the passing of Jim Thompson, who led the organization for 14 years. Before joining the foundation, McCarthy was Senior VP of ESPN Radio Group, where he led the play-by-play business across four ESPN-owned stations. Previously, as SVP for ESPN Owned and Operated Radio Stations, he directed operations within the group - and he also served as the president and general manager of 1050 ESPN Radio, the group’s New York flagship, since it started broadcasting in 2001. Under McCarthy’s leadership, ESPN Radio…

It’s that time of year! You probably feel like there is a conveyor belt of things coming at you right now, and it’s not letting up. But stop and ask yourself. In the rush of wrapping up 2022, have you fashioned a clear vision for 2023 and the outcomes you want by year’s end? Call me Captain Obvious, but how you finish 2023 has everything to do with the planning that starts now. Let’s take a look at these recommendations for things to do before year’s end to start 2023 strong! 1. Key account growth planning. Schedule time with each seller to review the growth opportunities for their key accounts. Consider the business results they are looking to achieve and how a plan can be crafted to address those. Also,…

2023 will be a great year for radio because… Radio’s on-air talent base will continue to expand across multiple platforms while providing an authentic connection to their listeners and providing a brandsafe environment for advertisers. Because we are smarter, we are stronger, and we survived. Basically, the right environment for success is always up and down, but a keen business person is never passive and is always looking for opportunity. We set realistic expectations for 2022 by talking with our customers and sponsors about the challenges they are facing, and we are developing programs that help them grow their business. We have seen every study and report that radio outperforms TV and social media for advertising engagement. Now we need to believe it and make it happen. Perception is reality,…

I think anyone who knows me knows I am pro-talent. I started my career on the air. I was first captivated in this business by talent - and I still am. In a world of sameness, talent is the differentiator. And the radio industry needs to embrace the importance of talent whenever that’s possible. Yes, even in fiscally challenging times. What are the qualities star talent will need to possess in 2023 and beyond? The world is changing rapidly, but here are some thoughts: 1. A unique flexibility will help star talent navigate a changing world. Some might call it “cognitive flexibility," and others might call it open-mindedness. But whatever you call it, this is an important foundational core for talent. 2. Intense digital literacy. I’m not talking about someone…

The year 2022 is drawing to a close. Since the pandemic, the evolution of media has accelerated, and the expectations of listeners, advertisers, and broadcasters have been forced to change. What was is no longer. But there are many things to feel optimistic about when it comes to radio in regard to reach, rebound, and driving revenue for advertisers. Taking advantage of these opportunities means a shift in job descriptions, expanded responsibilities, and new criteria for those individuals to be considered for such positions. The program director position is one that has been evolving for several years. Since 2020, the role of the person responsible for performance content has changed out of necessity. Whether you refer to the role as brand manager, content chief, executive programmer, or program director, there…

Over the years Radio Ink’s Forecast conference has attracted the brightest financial minds from both inside and outside the radio industry. Our annual gathering at the Harvard Club in New York City has helped thousands of broadcasters understand the financial trends ahead of them. In 2021, we added the television industry to our conference coverage, and that’s made Forecast even more successful. Here’s a look back at some of the attendees through the years. At the Forecast 2019 “Top 40” reception: iHeartMedia Chairman/CEO Bob Pittman and President/CFO Rich Bressler, Audacy CEO David Field, financial analyst Marci Ryvicker (now with Comcast), and Guggenheim Securities’ Drew Marcus. It’s Forecast 2012, and here’s Radio Ink’s Eric Rhoads with Spanish-language broadcasting pioneer Eduardo Caballero and Fletcher, Heald & Hildreth attorney (and frequent Forecast participant)…

What are your hobbies? My favorite hobby is spending time with my kids and family, and attending my girls’ games and coaching basketball. Who is/was your role model, and why? My dad is still my role model. He was an NYC cop for 25 years. He was a man of principle and compassion with a great sense of humor. What are you reading right now? Proof of Heaven. What is your favorite movie? Goodfellas. Favorite TV show? Seinfeld. Favorite food and drink? Chicken parm and a great glass of red wine. iPhone or Android? iPhone. Twitter handle? Under construction. Instagram? Ask my four kids - they control it all. Who are the three most interesting people you know (outside your family), and why? George Bodenheimer - a great leader who…