When two different trade media cover exactly the same story on the same day, that's not "news," that's reprinting press releases.
There's certainly nothing wrong with a competitor sending out PR each time they close a deal. Both Sirius and XM did it a decade ago. They also bought placement in movies and TV shows, all of which drove a growing impression back then that satellite radio was going to replace terrestrial radio among local business leaders.
"Local radio" is still standing and still wins the battle 10+ to one.
This is not to say that analog radio shouldn't worry about Pandora and all the emerging new media.
It's just to encourage you to tell your success stories in PR as well, while acknowledging that our value proposition on offer to both listeners and media buyers is under attack from new places.
So, what else is new?
Thanks to new media, we have two or three times the inventory to sell that we once did given all the platforms at our disposal.
1. Be sure that our clients get more than the results that expected by being better, more engagingly effective than any competing media's creative.
2. Give listeners more of what they come to us for and less of what they don't. Of course, doing so will mean that traditional "over the air" revenues will be flat to down unless we're able to aggressively raise rates, which in this economy and new media age is an immense challenge.
3. A more sustainable business model is to lower commercial loads "over the air" - making our analog products more listenable - and replace that revenue with money from all possible non-traditional sources.
Long term success requires long term thinking, and courage.
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3 months ago