1. "Leverage our National Talent"
2. "Live and Local"
Let's take a closer look at the two paths.
"Leverage our National Talent"
- Syndicated big talent/national footprint
- Big margins/low expenses
- Smaller sales force
- Hit the numbers or you're gone
- "Ad Council" PSAs
- Strict adherence to tried and tested format rules
- "One to Many" programming strategy
- Heavy reliance on national revenue
- Talent involved in the communities
- News departments staffed with news people
- Good margins (but much lower than the first scenario)
- Keep adding salespeople so long as the incremental revenue is greater than the incremental expense
- Budgets are flexible; management is responsive to local opportunities
- Local PSAs
- Will break the format "rules" if prudent
- "One to One" programming strategy
- Heavy reliance on local revenue
Both strategies may work. But I'm betting on "Live and Local," especially in smaller and mid-size markets. Those are my thoughts; what are yours?
George
I also think that a fully embraced and engaged interactive component would be a key addition on the successful "live and local" strategy list.
ReplyDeleteI agree that two models are emerging. Check out my blog at: http://www.imediastrategies.net/?p=584 for more.
ReplyDeleteI think a decent mix of the two are best in ALL markets. If a large market can stay in tuned with local stories and offer a talent pool that can foster community support, it brings in the local business revenue and helps to promote local organizations through PSA's. The National syndicated host draws in a large portion of listeners that obviously boosts the ratings.
ReplyDeleteI think smaller markets with less money to pay for local talent can benefit with the national programming but at the same time still needs a local host too since they have a lifestyle dependent on community support.
In my opinion, the challenge is finding the medium between ratings, revenue, and marketing and having a committed staff that really want to work together ALONG with a Broadcasting company that allows decisions to be made by the local market's management.
The whole deal is a mess and it starts with people...All the many platforms of "content" come second. No amount of digital, podcasting, HD or anything else will matter if you don't have a staff that cares about eachother and the people who listen.
That's my .02
Christea