Today’s general session at #RadioShow2019 featured Cumulus CEO Mary Berner, Chairman President and CEO of Entercom David Field, Charman & CEO of IHeartMedia Bob Pittman and was anchored by Stephanie Ruhle MSNBC Anchor and NBC News Correspondent.
The topic was 2020 and Beyond: Insights from the top
The panel acknowledged the shift from an emphasis on Radio to Audio, and that while audio consumption is both changing and growing, radio remains the least disrupted media due to the digital incursion.
Bob Pittman argues that the reason radio remains so strong is because people are social animals and need the type of companionship that radio offers which is why about 85% of listening is to the radio while 15% is to streaming music services including streaming radio.
David Field agreed saying the extension to that is that the most effective marketing often comes from a local radio personality as opposed to a national sporting or acting identity because the listener doesn’t see the latter as “…someone authentic, a friend or someone they can trust in order to try that product.”
But what about the difficulty of getting revenue, especially from agencies who are changing the way they buy.
Bob says relying on the agencies was OK when advertising was growing by 5% each year, but now radio must find another way to get money into the sector.
Is podcasting the saviour for radio? Bob says podcasting is a gateway but it is also the birthright of radio.
About the Author
Wayne Stamm is in Dallas reporting on the NAB RadioShow exclusively for radioinfo.