SOME HONEST TALK ABOUT RADIO’S STREAMING PROBLEM: First up today is a searing LinkedIn post from a Radio industry consultant named Mark Ramsey. The basis for the story centers around the graphic below, which compares Triton’s ratings of the pureplay streamers to the broadcasters’ streaming services. YoY the pureplays are up 16%, but in contrast listening to broadcast streaming is down slightly. Mr. Ramsey bluntly calls out what’s going on when he says “Radio is not getting more important on digital platforms. It’s actually getting less important. The growth rate is not just well behind the growth in pureplay listening, consumption of broadcast radio brands online is actually shrinking.” So why is this happening? Mr. Ramsey’s opinion that Radio’s end goal of making its broadcast product (say the Kiss station in Tulsa, as an example) available online just isn’t good enough to win audience. He follows by saying “. . . just because a platform distributes audio doesn’t mean consumers want your audio on it.” Bottom line, Radio isn’t just getting beat by the technological innovation of internet streaming. It’s also losing the content game to streamers who deliver more customized listening experiences, podcasts, playlists, etc.. This post is written by a radio insider and is meant to be a rallying cry for his industry. To me it’s a dose of reality that the broadcasters’ attempts to go digital via streaming just aren’t good enough.
NYC GETS ITS ADVERTISING WEEK ON: Are you ready for Adweek? It’s Manhattan’s annual confab of marketing thinkers and media trendsetters, all coming together in an unusually steamy late-September setting. Digiday provides a preview of what to expect in the attached link. Not surprisingly, trust and transparency in digital media will be center stage. And let’s not forget about the elimination of waste – expect to hear more than a few references to Restoration Hardware CEO Gary Friedman’s quickly-becoming-famous 22 Words pronouncement on the topic. Whether you’re an Adweek newbie or a grizzled subway-hopping veteran, the event will keep you on your toes. To get you prepped here’s a handy What’s In/Out guide for this week’s gathering. Enjoy!
THE 40 MOST POWERFUL WOMEN: Finally today, Fortune Magazine is out with its annual list of the 40 Most Powerful Women in business. Despite an overall lack of diversity in the white-male geekdom of tech, there are a solid number of women from the digital sector on this list. Led by Facebook’s Sheryl Sandberg, 5 of the top 10, and 8 of the top 40 women on this list come from a tech company. Having female leadership in our industry is good for two reasons. First, it provides more diversified C-suites filled with the absolute best leaders within their respective companies. And second, today’s women in leadership positions become role models and mentors for other up and coming female managers who have the same aspirations. I know some of you will say that true gender equality in the workplace will only happen when we stop even tracking women on a separate list from men, and that’s a fair point. But until that day comes, the women on this list provide an inspiring and powerful set of role models for all of us!
Have a great Monday guys!
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