Peter Smyth: What Radio Must Do To Recover
February 7, 2011 at 12:48 PM (PT)
This month, GREATER MEDIA Pres./CEO PETER SMYTH discusses the old adage: What’s the first thing you do when you find yourself in a hole? Answer: Stop digging.
Writes SMYTH, "Radio is slowly emerging from the hole that we found ourselves in during the Great Recession, but we’re not yet back to our historic revenue levels. Then again, whole segments of the economy can say the same thing. Our hole does not look anywhere as daunting as, say, the housing industry’s hole, which will take years to liquidate the overhang in their market. While radio has bounced back, especially compared to some other media, we still have a ways to go. Progress will be steady and slow, reflecting the forecast for the overall economy. We have to have faith and patience that the healing will continue."
Read the full column here.