Digital audio and video distributors have created new competitors — and disruption. All want to be media companies … but some are not. What does this mean for media companies?
That was the question posed to “four very smart women” in a 2018 NAB Show Main Stage Program moderated by veteran Washington, DC, reporter Katy Bachman. How two media companies and a broadcast equipment company are dealing with disruption varies.
Marian Pittman, EVP of Digital Strategy and Research at Cox Media Group, started the discussion by noting, “I feel like I’m disrupted every day!” Asked by Bachman if there is one example that comes to mind where change was made based on something that happened, Pittman couldn’t boil it down to a single change agent. “Many changes are going on right now, but OTT is disrupting us, in many ways, in how we create our content and connect it to our brand,” Pittman noted. “To change it in midstream is very difficult for a company that has print at the core of its brand.”
At CMG, injecting new talent is one solution, and a “disruption,” as they tend to be younger and do not actively use traditional platforms. These platforms must be protected, and this offers CMG balance.
“How do you protect what is really good and what got you there, and what can bring in the new ideas that can drive change?” Pittman said.
Seated to the right of Pittman was Ginny Morris, Chair and CEO of Hubbard Radio.
For Morris, the migration from traditional broadcast advertising to digital media is one of the biggest disruptors. “We have just had to dive in and adapt to these new spaces,” she noted. But, looking back, she recalls how Sirius and XM Satellite Radio were perceived as threats — and that was nearly 20 years ago.
Today, smart speakers are getting noted, but could also be a disruption if radio stations don’t work to capitalize on these new devices.
For Pittman, “reverse mentoring” is encouraged, and CMG is doing so by “injecting some young talent” into key positions.
What do Hubbard Radio employees think about the changes that may lead to disruption? “It is pretty exciting for my generation, and pretty enriching and fulfilling for the younger generation,” Morris said. “We haven’t had tremendous challenges in that regard.”
Also appearing on the panel was Muriel De Lathouwer, Managing Director/CEO, of EVS Broadcast Equipment. At EVS, the “IP revolution” is having a huge impact.
Meanwhile, Refinery29 Chief Content Officer Amy Emmerich, who has been with the digital media firm for three years, was asked if she was a disruptor because she helmed an all-digital operation.
No. She sees Refinery29 as simply one more option in a world with many choices for how to get their audio and visual entertainment and information. Emmerich said, “It is about diversification. It means the only constant in our world is change.”
This idea of diversification can be seen at Hubbard, where a Cincinnati operation offering total marketing solutions for clients, including digital, was “incubated in a very organic and natural way.” Deployment was then spread across all seven markets, and this was more challenging, Hubbard notes. To help implement the changes, a “test and model” approach was used.
For Pittman, “Cox Garage” was developed as a way to collectively tune out the world for several days and develop new ideas and projects that could be presented for approval by the executive leadership team.
While radio broadcasters may find themselves more challenged today than ever before, so does Hubbard Radio’s Morris. Yet, she admits, it’s a lot more fun taking on the challenges of 2018.
She says, “It’s about finding opportunity in the change, rather than being afraid of the change.”
“Leading Through Disruption”- was presented in partnership with National Association of Broadcasters Education Foundation, TVNewsCheck, Alliance for Women in Media and Radio Ink.
Pictured here are:
Becky Brooks, Executive Director, Alliance for Women in Media
Deborah Parenti, Publisher, Radio Ink
Amy Emmerich, Chief Content Officer, Refinery29
Katy Bachman, former AdWeek and Politico reporter (moderator)
Ginny Morris, Chair and CEO, Hubbard Radio
Marian Pittman, Executive Vice President of Digital Strategy and Research, CMG
Muriel De Lathouwer, CEO, EVS;
Michelle Duke, Vice President, NAB Education Foundation
