Radio Is Not for Sissies! Some Advice for Those Buying Radio Stations
Over the past year or so, we've seen quite a few radio stations change hands. New owners are entering the business, while established broadcasters are expanding their groups.
First, congratulations! I love seeing people invest in radio. After more than 50 years in this business, I still believe in the potential of great local radio.
But to those who have just bought a station, or are thinking about buying one, WELCOME TO THE JUNGLE!
Radio is fiercely competitive, both for listeners and advertising dollars. Today's listener has more choices than ever, from streaming services and podcasts to everything available on their phones.
Advertisers have choices, too. We're competing with television, newspapers, digital advertising, social media and plenty of other options, many priced aggressively.
So lets start with this: If you're not prepared to invest in the qualified people needed to properly operate a radio station, both on and off the air, maybe you should reconsider buying one in the first place.
Now, if you're ready to take on the challenge of owning a radio station, here are a few things I'd encourage you to keep in mind.
Know What You've Bought, and Who You're Serving
Before making major decisions, take an honest look at your station. What's working? What isn't? What are its strengths, and where can it improve?
And here's something to remember. More often than not, the station you've purchased may be just fine the way it is! Just because you're the new owner doesn't mean you have to start messing around with everything.
Just as important, understand your market and your audience. You may personally love a certain format, song or personality, but that doesn't mean your listeners will.
You're not programming the station for yourself. You're programming it for the people you want to listen.
And don't overlook the good things already in place, including the people who know the community, the listeners and the advertisers.
Hire the Best People, Then Let Them Do Their Jobs
My first full time job in radio was at WPRO in Providence. How lucky was I to work for what I consider perhaps the greatest broadcast company of all time, Capital Cities Communications.
I learned something very quickly about Cap Cities. They hired the best people and let them do their jobs. In fact, Capital Cities described its management philosophy this way:
"Decentralization is the cornerstone of our management philosophy."
And they meant it!
Station managers ran their stations as if they owned them. They had budgets, the authority to make decisions and a responsibility to deliver results. The same philosophy carried through the station. We knew what was expected, and we were accountable.
What a great lesson, and one I've never forgotten.
New owners need experienced, capable leadership in programming, operations and sales. Give those people the resources to succeed, let them do their jobs and expect results.
It's What's Between the Music That Counts!
There's an old expression every new or potential owner needs to hear, and more importantly, understand: "It's what's between the music that counts!" I believe that's more true today than ever.
Listeners can get music almost anywhere. Spotify, Apple Music and YouTube are just a tap away. So why should they choose your station?
Think about successful News and Sports stations. People come back for the personalities, information, opinions and connection. Music stations need to think the same way.
Of course, playing the right music is essential. But it's the personalities, the local connection, the useful information and the feeling that this station is part of the listener's life that make you more than a playlist.
And never underestimate the power of companionship! That's where great air talent comes in. They don't have to say a lot. Sometimes just a few warm, friendly words can make listeners feel like they're spending time with a friend.
That kind of companionship creates a connection that no music playlist can duplicate.
Programming and Sales Must Be Partners
A radio station isn't just a programming operation. It's a business. And the strongest stations understand that great programming and great sales go hand in hand.
Programming must respect the need to generate revenue. Sales must respect the need to protect the product that attracts listeners in the first place.
When those departments work together, promotions, community involvement, events and sponsorships can strengthen the station and create opportunities for advertisers.
Great programming attracts the audience. Great sales turns that audience into revenue. You need both!
One Final Thought
If you've just purchased a radio station, or are thinking about buying one, study Capital Cities Communications. They hired the best people, gave them the authority to do their jobs and held them accountable for results.
Follow in their footsteps.
And remember, RADIO IS NOT FOR SISSIES!