Radio’s Innovation Funk
In fact, innovation and expansion into new markets are the two primary ways P&G sees itself growing in the years to come.
Recently I was asked about new formats in the US Radio market.
I shrugged, because it seems to me that the hottest new formats in the US are the ones happening off the air and on the Internet.
While we can conclude that innovation costs and is risky (all true), we must also take a lesson from P&G and conclude that without innovation there is no news, and without news there is no buzz. And without buzz there is no enthusiasm. And it's enthusiasm that makes all the other things we want happen.
We gripe that audiences and media obsess on platforms with far less universal usage than radio enjoys. But that obsession is a result of their novelty, not in spite of our ubiquity. That obsession happens because people – all people – naturally gravitate to what's fresh. Try to Google "iPad first day pre-order sales" for verification.
If P&G, a company with far more to lose than yours has, sees it necessary to magnify their investment in innovation, what about you?
As I reflect on my time at Canadian Music Week, where enthusiasm was dripping from the very walls, I come away with one distinct impression: Zillions of black-shirted kids – volunteers – pitching in because they love music and want to be closer to the industry which makes it popular.
You don't see that at the NAB Radio Show.