MikeyA posted at 09:25:57 AM on Feb 07, 2013:
He won't do much. I could be wrong and I do wish him well but radio is hurting more than all of the other media. A shame because very local shows I think are great. It was "consultants" who killed radio.
Drive into any city all the shows are the same. That's because radio consultants put all the shows into the same cookie cutter style and there's no room for originality. Hence why podcasts are the future of audio media the question is how to make it profitable.
1.) You are correct about the cookie-cutter style. Forget about "consultants" with an "s" on the end...some of these big groups have hired one guy to be in charge of everything, format-wise.
2.) Radio generated $17.5 billion in advertising revenue in 2011 (2012 numbers aren't out yet from RAB). Hardly dying. Certainly down from the $21 - 22 billion it was getting pre-2008 crash, but when the shit hit the fan, advertising was the first thing to go for a lot of radio's core business clients (#1 being auto manufacturers ).
What does hurt is the billions in debt some of the bigger companies are in (Clear Channel has billions it needs to refinance). It's hard to look financially spectacular when you've dug a hole to China, fiscally speaking.
But other groups are strong and doing fairly well. One group that fascinates me is Bonneville, which is owned by the Mormon Church, but does secular formats very well and is quite a profit source for the Church of Jesus Christ of Latter Day Saints. Hubbard is good. And there are smaller operators that actually do very well. It's the famous cases that give radio this cloud of "oh its doing terribly."
The sooner Clear Channel falls apart (and Cumulus for that matter), the better things will be.
...podcasts are the future of audio media the question is how to make it profitable.
That's a question that's a decade old and we're still no closer to an answer. Downloadable "radio-style" content has a place, but I'm not sure it will ever be an overall "replacement". You can podcast practically everything from NPR, but the vast majority of their old fashioned, tune-in radio affiliates (ahem... member stations ) are doing very well.