Peter Smyth: 'Challenging Times'
November 5, 2007 at 8:41 AM (PT)
GREATER MEDIA Pres./CEO PETER SMYTH writes in this month's "From the Corner Office," that "2007 proves the truth of the Chinese proverb, 'May you live in interesting times.' I cannot recall a previous year jam-packed with such challenges and such opportunities for our industry. It used to be that we could count on modest growth in radio spot advertising, some flux in the ratings for our properties, and pretty much figure that next year would be like the year just past.
"No longer. Today, we're being challenged on many fronts. Distractions abound, and if you don't have an accurate compass, you can easily get led off course by the hype on one hand, and the doomsayers on the other.
"Radio, as a medium, is a healthy and vital part of the lives of more than 260 million listeners each week. That's a tremendous installed base of customers that most Internet sites could only dream of. Yet radio is being challenged as never before by the web, which is coming of age more rapidly and with more innovation than anyone predicted."
Read SMYTH's full column here.