Many in our business talk about innovation and how we must develop new "this or that." The creative folks are told to come up with a plan and then present the plan to the "brain trust"...so far so good, right...things are going so well...and then it happens. (insert screeching brake SFX here).
That brings us to the Fake Innovator's Dilemma--take a look and tell me this wasn't written with radio in mind.
New means new, innovation by it's very nature means untried, and the radio business could use a lot more of it. I'll leave you with this question today: do we have the guts to come up with "new" and then actually do it? Your comments are always welcome.
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Showing posts with label innovation. Show all posts
Showing posts with label innovation. Show all posts
Tuesday, September 8, 2009
Friday, April 17, 2009
What A Week!
No shortage of news...
Not a great week the for biz really--repackaged initiatives, discouraging research, and short-sighted operators doing more of what they do every week. Certainly, there are positive nuggets mixed in, but for the most part it's pretty cloudy out there. Innovation is practically a dirty word in the hallways of many companies these days.
I feel compelled to repeat myself a little today:
It's a lot easier when we all assume the position of "get along and go along" but that is not what our industry needs right now. We need a revolution of sorts. Evolution ain't gonna cut in anymore. This type of action won't come from cashflow positive stations since no one will risk that type of upheaval--understood. So we wait. We wait for grim reaper of failure to cast its ugliness upon us, and then...
- Clear Channel managers learn about a new batch of available "programming options" from San Antonio
- Ascertainment is back...hey let's find out if we are serving our communities--good idea
- Less wasn't more--PSA's are back
- Edison Research and Arbitron release a new study that shows young radio listeners are listening less
- Portable digital media devices are STILL growing and fast
- 42 million Americans are listening to radio on-line--and lots more competition from non-traditional radio providers like Pandora
- A heritage AM station in NE PA goes dark...maybe for good
Not a great week the for biz really--repackaged initiatives, discouraging research, and short-sighted operators doing more of what they do every week. Certainly, there are positive nuggets mixed in, but for the most part it's pretty cloudy out there. Innovation is practically a dirty word in the hallways of many companies these days.
I feel compelled to repeat myself a little today:
- Non-stop music machines are not the answer to excite listeners--in the long term even with PPM (long term? yeah, I know)
- Playing 30 and 40 year old classic rock on stations hoping to attract a passionate following of 25-34's is a losing strategy
- Ryan Seacrest can only be on the air for some many hours in any given day
- Why can Top 40 stations play mostly currents and recurrents for women, but most believe that strategy can't work for a "guy" station? (It can, and I am doing it successfully)
- Talk radio is not about political parties, but entertainment...period. (and no, Limbaugh is NOT the leader of the Republican party...good rhetoric though)
- Sometime soon we need to commit to attracting some young new voices to our ranks and encourage them to talk to their peers in ways that 50 year old's can't.
- Commercials are a necessity, how about reinvesting in the process of writing and producing better copy and audio?
It's a lot easier when we all assume the position of "get along and go along" but that is not what our industry needs right now. We need a revolution of sorts. Evolution ain't gonna cut in anymore. This type of action won't come from cashflow positive stations since no one will risk that type of upheaval--understood. So we wait. We wait for grim reaper of failure to cast its ugliness upon us, and then...
Saturday, December 20, 2008
Quotes of Creativity and Innovation
Enjoy this short presentation; it might inspire creativity or the desire to take a shower...you'll see.
Wednesday, June 18, 2008
10 Lessons of Innovation
"Innovation" a word that gets thrown around a lot in the radio business; usually in the context of we need a lot more of it. How do we get to this innovation we all speak of?
How can we push forward aggressive innovation in an industry that values the tried and true? How can we aggressively develop new formats in an industry that always asks the question when speaking of these new formats, "where else is it being done?" How can innovation take place in an industry that likes to categorize and compartmentalize nearly everything?
It's not easy. Let's start with courage, fearlessness, tenacity, and skin thick enough to accept lots of skepticism and the inevitable failure of many, if not most, new and untried ideas and formats. This innovation thing is not for everyone.
I came across a slide show by Idris Mootee, Author, Speaker and New Venture Strategy Advisor from Blast Radius Inc., that offers 10 solid lessons on innovation. There are some very good points to be gleaned from the presentation. My favorite lesson is one that fits our business so well:
#5 Innovation occurs at the intersection of previously unconnected and unrelated planes of thought
Check out the entire slide show and see what you think.
How can we push forward aggressive innovation in an industry that values the tried and true? How can we aggressively develop new formats in an industry that always asks the question when speaking of these new formats, "where else is it being done?" How can innovation take place in an industry that likes to categorize and compartmentalize nearly everything?
It's not easy. Let's start with courage, fearlessness, tenacity, and skin thick enough to accept lots of skepticism and the inevitable failure of many, if not most, new and untried ideas and formats. This innovation thing is not for everyone.
I came across a slide show by Idris Mootee, Author, Speaker and New Venture Strategy Advisor from Blast Radius Inc., that offers 10 solid lessons on innovation. There are some very good points to be gleaned from the presentation. My favorite lesson is one that fits our business so well:
#5 Innovation occurs at the intersection of previously unconnected and unrelated planes of thought
Check out the entire slide show and see what you think.
Monday, June 9, 2008
The Business of Innovation
CNBC's Maria Bartiromo has a new special series, "The Business of Innovation," and tonight's s
how was "Innovate or Die."Among the guests was Sirius CEO Mel Karmazin. It was a very good segment and classic Mel. At one point in the interview Maria and her panel of experts got into management style and hearing Mel talk about playing "devils advocate" and managers "getting Mel'd. would make anyone who has worked for him smile. (I did in the 90's)
No doubt that he is all about the money, but he does understand and appreciate, as he puts it, "the arts and crafts department" and places great value on strong content.
Watch his segment right here:
Wednesday, March 5, 2008
Change
That's the big buzz word this political season. We've heard it before and this year is no different. When one reads the polls or sees "man on the street" interviews on TV that's the central theme time and time again.
Of course we need change...the world is fluid and requires constant change just to keep pace. Change is inevitable. Of course, positive change isn't always so easy to achieve.
Now, let's put that in the context of radio. Radio is certainly changing as we all have experienced or witnessed over the last number of years. What has this change yielded our industry?
When is the good stuff going to start to happen? Is it going to happen at all? If it does, will it start at the top or will it happen from the bottom? Who will have the courage to be the "agent of positive change?"
I just hope it happens. I have my doubts, but yet remain optimistic that out of the fog a resilient and growing radio industry will emerge on my cell phone, computer, dashboard, and yes through that big stick in the sky.
Recently, I was having a conversation with a friend (also in radio) and I was laying out the schematic for a new format that I believe would have a good chance for success. In fact, I have three new formats developed that I believe could work. My friend told me I was naive to believe that creative, fresh, new, and UNPROVEN would have any chance in today's environment. Of course, he was 100% correct.
I am undeterred. I am in the business of creative, fresh, and new. There's still plenty of success to be had with the tried and true...all I am saying is let's take some of those less successful commodities and give something new a chance to work.
Before you say it, yes, there have been new formats launched that have been successes. How many of those new formats were based in the current day and not a new version of oldies or talk the way its always been done? Right.
innovation + creativity + time + funding = a new chapter of success for radio?
I believe so.
Of course we need change...the world is fluid and requires constant change just to keep pace. Change is inevitable. Of course, positive change isn't always so easy to achieve.
Now, let's put that in the context of radio. Radio is certainly changing as we all have experienced or witnessed over the last number of years. What has this change yielded our industry?
- Lower revenue
- Less risk taking
- Fewer people
- Shorter time horizons to achieve success
- Fewer stations deliberately targeting listeners that are the future of our industry (12-24)
- Chasing future PPM riches with more Oldies stations
- Public market rejection
- Individual radio stations as a commodity among clusters
- Belief that the "music machine" concept will save us
When is the good stuff going to start to happen? Is it going to happen at all? If it does, will it start at the top or will it happen from the bottom? Who will have the courage to be the "agent of positive change?"
I just hope it happens. I have my doubts, but yet remain optimistic that out of the fog a resilient and growing radio industry will emerge on my cell phone, computer, dashboard, and yes through that big stick in the sky.
Recently, I was having a conversation with a friend (also in radio) and I was laying out the schematic for a new format that I believe would have a good chance for success. In fact, I have three new formats developed that I believe could work. My friend told me I was naive to believe that creative, fresh, new, and UNPROVEN would have any chance in today's environment. Of course, he was 100% correct.
I am undeterred. I am in the business of creative, fresh, and new. There's still plenty of success to be had with the tried and true...all I am saying is let's take some of those less successful commodities and give something new a chance to work.
Before you say it, yes, there have been new formats launched that have been successes. How many of those new formats were based in the current day and not a new version of oldies or talk the way its always been done? Right.
innovation + creativity + time + funding = a new chapter of success for radio?
I believe so.
Monday, February 4, 2008
googleyahoomicrosoftaol.com
Last week Microsoft announced an unsolicited mega billion dollar offer to buy Yahoo...today Google says it might want to team up with Yahoo in some sort of deal or try to stop the Microsoft deal altogether...CNBC reports that AOL now might be in play because everyone else is in play. There will be deals done in this space and no matter what deals are done it is not good for radio.
The genesis of Yahoo's problems is not traffic but sales. Yahoo has lots of users but has failed to monetize their traffic. Advertising revenue is the engine that has been driving Google and killing Yahoo. At the same time, Google continues to grow, innovate, invest, and dream up new ways to be a part of your world; while Yahoo's much touted new sales platform was troubled from the start and failed.
The biggest on-line players will ultimately get bigger, better, stronger, and more competitive over time. And that doesn't account for what is being cooked up in someones garage right now that will change everything all over again. While we in the radio business continue to hold on to our 1980's music machine and spot model.
Not only are our music positions at risk, but the very lifeblood of every station, our spots, are at risk too. And right now your LOCAL ADVERTISERS can advertise FOR FREE on Google. I know. I did it. And it took less than 5 minutes to set up. They call it the Local Business Center.
So if someone did a search for my company, Harve Alan Media, this is what they got in Google Maps-a likely place a consumer would end up if they were searching for a local furniture store.
From there they could choose 'more info' and get this:
The genesis of Yahoo's problems is not traffic but sales. Yahoo has lots of users but has failed to monetize their traffic. Advertising revenue is the engine that has been driving Google and killing Yahoo. At the same time, Google continues to grow, innovate, invest, and dream up new ways to be a part of your world; while Yahoo's much touted new sales platform was troubled from the start and failed.
The biggest on-line players will ultimately get bigger, better, stronger, and more competitive over time. And that doesn't account for what is being cooked up in someones garage right now that will change everything all over again. While we in the radio business continue to hold on to our 1980's music machine and spot model.
Not only are our music positions at risk, but the very lifeblood of every station, our spots, are at risk too. And right now your LOCAL ADVERTISERS can advertise FOR FREE on Google. I know. I did it. And it took less than 5 minutes to set up. They call it the Local Business Center.
So if someone did a search for my company, Harve Alan Media, this is what they got in Google Maps-a likely place a consumer would end up if they were searching for a local furniture store.
From there they could choose 'more info' and get this:
How about coupons? No problem:
Attract new customers by creating a coupon for your business. Creating a coupon is free, and only takes a few minutes. You can create as many coupons as you want. Coupons will appear along with your business listing in Google Maps.
I'm not suggesting we have all been sitting around doing nothing to address the problems, but innovation has been slow to come especially when compared with our competitors in the on-line content and advertising space.
BTW-how long before Google starts charging for those free ads?
Monday, January 14, 2008
Can Radio Be A Growth Industry Again?
I was blog surfing and came across a very interesting blog, AVC, (this guy is in the venture capital biz and seems to be very involved with media and tech) which had a post that included this EBITDA chart from Goldman Sachs:
No surprise to anyone who has ever followed this stuff-slower growth leads to lesser valuation. So costs are cut in order to preserve profits. Slowdowns are inevitable in every industry, but the hope is that within a period of time conditions will improve and expansion will return. Will that be the case with radio? I'd like to think things will turn around, but will it be enough to arrest the trend of cuts and stagnation we have been witnessing for last few years? I have my hunches.
Many a company or industry has been left for dead only to surprise everyone with a monumental return to prominence. One obvious example is Apple which had declining sales and products appealing to a narrow segment of consumers. We know what happened next: refreshed leadership, innovation, and a little bit good luck.
Getting lucky is nice, but should not be counted on. Refreshed leadership coupled with innovation; now were talkin'!
What will be next? That's the 15x multiple question. I can tell you this, we can continue to do things as we have been doing them for decades and hang on for dear life as things move past us at warp speed or we can learn some things from those meteors passing us by.
This is hard. Our natural inclination is to do what we know to be right. But the definition of right has and will continue to change. There are still people who believe that talk radio belongs only on AM because FM is for music. You see what I mean.
What if talk and music radio were to come together? What if you couldn't research such a hybrid? And most likely you can't. There's no bigger supporter of audience research than me, however, traditional research is not likely to be sending a station down this path anytime soon. In the past (and present) we test our hypothesis and formulate a plan based on the results of the survey. But, what if?
Who has the courage to call or write me for more information on this harebrained (read: innovative) idea?
Bottom line: we can play "all the hits" and be "the classic rock station" for many years to come. The tried and true will still do OK and we as an industry do a pretty good job of programming traditional radio formats. But we would like to be a growth industry again and that is going to require some innovation.
No surprise to anyone who has ever followed this stuff-slower growth leads to lesser valuation. So costs are cut in order to preserve profits. Slowdowns are inevitable in every industry, but the hope is that within a period of time conditions will improve and expansion will return. Will that be the case with radio? I'd like to think things will turn around, but will it be enough to arrest the trend of cuts and stagnation we have been witnessing for last few years? I have my hunches.
Many a company or industry has been left for dead only to surprise everyone with a monumental return to prominence. One obvious example is Apple which had declining sales and products appealing to a narrow segment of consumers. We know what happened next: refreshed leadership, innovation, and a little bit good luck.
Getting lucky is nice, but should not be counted on. Refreshed leadership coupled with innovation; now were talkin'!
What will be next? That's the 15x multiple question. I can tell you this, we can continue to do things as we have been doing them for decades and hang on for dear life as things move past us at warp speed or we can learn some things from those meteors passing us by.
This is hard. Our natural inclination is to do what we know to be right. But the definition of right has and will continue to change. There are still people who believe that talk radio belongs only on AM because FM is for music. You see what I mean.
What if talk and music radio were to come together? What if you couldn't research such a hybrid? And most likely you can't. There's no bigger supporter of audience research than me, however, traditional research is not likely to be sending a station down this path anytime soon. In the past (and present) we test our hypothesis and formulate a plan based on the results of the survey. But, what if?
Who has the courage to call or write me for more information on this harebrained (read: innovative) idea?
Bottom line: we can play "all the hits" and be "the classic rock station" for many years to come. The tried and true will still do OK and we as an industry do a pretty good job of programming traditional radio formats. But we would like to be a growth industry again and that is going to require some innovation.
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