Radio's Revenue Future Discussed By Worldwide Radio Summit Panel
April 29, 2011 at 12:07 PM (PT)
Turning radio into dollars using new revenue models was the topic of a morning session at the WORLDWIDE RADIO SUMMIT in HOLLYWOOD, with TRITON DIGITAL's PATRICK REYNOLDS moderating and consultant JEFF POLLACK, PANDORA's LES HOLLANDER, EMMIS/NEW YORK VP/Market Manager ALEX CAMERON, SOUNDCLOUD VP DAVE HAYNES, MOTORFM/GERMANY's MARKUS KUEHN, and former CITADEL MEDIA VP/Business Development ROBERT MINTON on the panel.
The panelists gave examples of how their businesses are taking new approaches to sales and marketing.
"We have to think broader and be more imaginative," said CAMERON after describing a promotion with HISTORY CHANNEL under which the network "took over" EMMIS' Rock WRXP/NEW YORK. POLLACK and KUEHN noted a need for new faces to join the industry and bring a fresh perspective to sales, while HAYNES pointed to studies showing a sharp drop among younger consumers in listening to the radio the first thing in the morning; he challenged the first panel's assertion that people found out about the tornado emergency from radio, asserting that he and others respond to emergencies by going online to get information and upload video footage.
The panel also discussed audio's place online, with HAYNES saying that social media skipped from text to video, and MINTON lamented that radio often talks about bringing new blood into the business but should be retraining the people already in the business as well.