Monday, February 18, 2008

Is The Future Of Radio Unfolding Now In Indianapolis?

You have to say this about market #40: almost all of the major consolidated groups compete there (including one of my personal fav's, Emmis, which possesses a unique culture, more vision and courage than most) and it seems the local managers are unafraid of experimentation and change, so it often is a test for things which could eventually impact all of us.

Reporter David Lindquist documents the past year of changes there in this morning's paper and it's worth a read.
"Advertisers spent $92.5 million at Indianapolis radio stations in 2007, following $99 million spent in 2006, according to California-based accounting firm Miller, Kaplan, Arase and Co. That's a 7 percent drop, and Emmis executive Tom Severino predicts another drop of 4 percent in 2008. To appeal to advertisers who may believe radio is past its prime, companies create stations that aim to deliver audiences composed of the correct ages (and often the correct gender). Executives say modern radio is more than what's heard in your car or at the office. They tout entertainment and information available at radio station Web sites, as well as concerts they present." (photo) Cumulus Market GM Chris Wheat, who says "patience is key with new formats."

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