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Should Radio Be More Like Netflix?
September 24, 2019
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I found this Fortune article fascinating.
Maybe it's because I am currently reading Marc Randolph's book "That Will Never Work," which is his account of launching Netflix as co-founder and the first CEO. Maybe - and this is more likely - it's because I see the parallels between the creative side of their business and ours. I think there are some valuable lessons in this article that Radio needs to reconnect with.
Here's some things that stood out to me:
"According to Netflix, a weaker content slate was partly to blame for the tepid results." - Weak products, deliver weak results! If you want to succeed in entertainment you need to create shows that people want to watch/listen to. Not happy with your results? The product isn't good enough. Simple.
"To make a splash on arrival, Apple has shelled out big bucks to secure A-listers Jennifer Aniston and Reese Witherspoon as costars for its original series The Morning Show." - High profile, marquee, talent helps bring audiences into your brand/station. The audience is already interested in them, and therefore they help fast track the acceptance of something new. Radio needs a balance - big marquee talent, and a strong talent pipeline committing to the development of future big name talent. Big name talent helps your product.
"While Netflix remains the streaming king, it will have to fight harder than ever to defend its crown. And the dynamics of the competition are shifting dramatically." - This is the most competitive time for our business (now the 'audio' business) and we have to raise the bar in order to compete. What was good enough yesterday is barely good enough today and will not be good enough for tomorrow. We need to push ourselves and our teams to deliver products that capture our imagination in more meaningful ways.
"To win in the new era of streaming, Netflix must become as good at producing original content as it has always been at delivering it." - Content really is king. Distribution is queen. It's product before platform. Storytelling before technology. Always.
"Our challenge every day is making a show you can't live without" - Amen! That sounds easier than it is. But what a compelling challenge for talent, programmers and executives to aspire to every day. A great question to ask of your audience; "How much would you miss this station/show if it went away tomorrow?"
"Its success hinges on launching shows that resonate with viewers. There are some things you can't necessarily model out with great precision." - You will never know for sure if what you're building will deeply resonate with an audience. You can't guarantee that your product will find its audience. But we have to experiment. We have to try. We have to be willing to fail in order to succeed. Launching entertainment products takes a lot of passion and gut! If all you are doing is blindly following the data - the numbers - you won't create anything original.
"Talent for hire -like writers, directors, and actors-appreciate the freedom and the speed at which Netflix moves." - We have a responsibility to create an environment that allows the "creatives" the space to create. We need to set the vision, the direction, the aspiration and then step back to let them dream and do. We must give people the autonomy and space to bring to life what they hear in their heads.
"One of the content team's central priorities: "How do we make sure that we are continuously producing the most exciting and compelling stories and also ensuring that as a creative environment, we are the place that filmmakers want to come to do the best work of their lives?" - Something all broadcast companies and executives need to make a priority! Just reading that quote motivates me. Does it motivate you? I hope so.
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