Third Annual Future of Radio Conference Poses Questions
March 24, 2011 at 5:31 AM (PT)
Twenty radio company owners, brokers and researchers met last week in HILTON HEAD ISLAND, SC to consider the future of radio. This was the third annual meeting of a group, led by veteran broadcaster JIM HOOKER.
So where is radio going? According to HOOKER, the answer is, "It depends."
Based on what occurred at this year's conference, HOOKER's view of where radio is going depends upon some critical factors. The first question is: What is your time horizon? Is it short (next one to three years) or long (five-10 years out)? Thinking in the shorter term, he expects the traditional radio business to improve for a few more years, because major shifts such as "the connected car," are at least five years away.
HOOKER believes that the next question is: Are you in a top-25 market or a smaller market? In a smaller market and outside of a major metro area, there may be less penetration of broadband, so there may be slower adaptation of new technologies.
The third question is: Do you depend on transactional business or retail direct? Stations that have a direct relationship with the advertiser can influence the marketing process from inception to implementation, says HOOKER.
Learn more at www.futureofradioonline.com -- "White Papers."