How To Increase Revenue In 2017

Everyone wants to see radio not just growing again in 2017, they want to see revenue growing at a very decent clip. Radio executives don’t want to buy into the statement that “Flat is the new normal” — they are not OK with that. So how do radio stations around the country get revenue jumping again? We turned to some of Radio Ink’s Best Managers for 2016 and asked them the following question: What is it going to take to get radio revenue growing, at a decent pace, every year moving forward?

Here’s what they had to say.

We have to get out of the mindset of “just radio.” We are an entertainment medium. Radio is just one of the content-delivery sources that we offer our listeners, our community, and our advertisers. We offer content through streaming, social media applications, numerous digital sources, promotional events, RDS, and, yes, radio! We need to aggressively tell the success stories of our business and how it is getting results for our advertisers and ringing cash registers for them. We as leaders, now more than ever, need to adapt and embrace this changing environment and champion this change!

Gary Spurgeon, VP/General Manager, Radio One Houston

First, we need to deliver an outstanding product that listeners want. Then we need to understand the business challenges of individual clients and work with them to solve those business challenges. We need to be less dependent on CPP business and to get serious about solving the needs of local businesses. It’s not an overnight solution. It takes focus, determination, and perseverance but it is critical to our long-term revenue health.

Donna Hall, Vice President/Market Manager, Cox Media Group Atlanta

Creative solution-based sales are the key to continue developing sustainable revenue growth. The spot sale days are over. We need to develop strategies that make our advertisers’ cash registers ring, driving value through the entire process.

Humberto Hormaza, Senior Vice PresidentEntravision Orlando

We have to come together as an industry, using all of our resources, to educate and remind today’s decisionmakers about the power of radio. After all, radio reaches 93 percent of the population every week and has survived the test of time — over 100 years. If we can find a way to come together as one, and not consider the radio operation across the street as a competitor, the industry can begin to thrive again.

Jeff Norman, President/GM, Max Media Denver

Be cutting-edge and competent in the new technology areas that are growing like crazy, but don’t get too far from the fundamentals of radio that made us great in the first place. Localism, great music and content, driving foot traffic and activity, and being a service to the community. Create value, and charge for it. Get out of your office and lead by example both in your building and out in the community.

Kevin O’Rorke, General Manager, Lotus Communications Fresno