Ramsey & Borrell Interview: The Way Forward For Legacy Media
January 21, 2014 at 3:36 PM (PT)
TODAY was the day! RAMSEY MEDIA Pres. MARK RAMSEY and BORRELL ASSOCIATES CEO GORDON BORRELL engaged in a unique, live one-on-one interview discussing BORRELL ASSOCIATES' recently-released report on "The Future Of Legacy Media" -- which has evoked a lot reponse.
In the course of their wide-ranging conversation about the conclusions to be drawn from the report, RAMSEY and BORRELL kept returning to one central take away -- total media usage across all media in the next five years is going to go down, and the only way forward is to face up to this fact and make sure that future content and advertising solutions are aligned with this reality.
At the heart of this discussion where Radio is concerned was the report's finding that while Radio's reach is as strong as ever and is likely to remain high for the foreseeable future, Radio TSL has been noticeably declining since 2008 and is expected to continue doing so through 2018 -- moving from an average of 124 minutes a day five years ago to just under 92 minutes a day at the end of last year on its way down to an estimated 82 minutes a day five years from now.
As you will be able to see in the full video below, RAMSEY and BORRELL each had many thoughts on how to respond to this expected one-third drop in TSL over 10 years, but another central take away was BORRELL's feeling that the stations who can expect the most success in the future will be those who understand that a very big reason for this drop is the simple fact that media consumers will be placing an ever increasing premium on their own time and that only the most compelling choices from among the exponentially increasing number of options available to them will command their attention.
Media consumers are "going to greater efficiency" now, says BORRELL -- using e-mail filters to separate their in-box wheat from the chaff, TIVO to get rid of TV commercials, online directories to find exactly what they want in the shortest possible time, etc. -- and successful stations will, by extension, be those that help consumers streamline their lives via over-the-air and online content initiatives that meet these desires as well as creative programming and advertising solutions that truly engage listeners at the same time that they deliver the information and music that their listeners expect.
RAMSEY and BORRELL go on to cover many suggested ways for forward-thinking stations to accomplish this ambitious agenda, ranging from an emphasis on the power of compelling personalities to create a strong connection to the local community to hiring digital-only ad sales personnel who have the experience and expertise necessary to tap into fast growing digital ad spending that BORRELL calls the only way for Radio to do more than simply tread water and maintain the status quo.
To hear everything they had to say, simply click play on the video below ...