Read this very important article and replace the word “newspaper” with “radio.”
The warnings are not nearly so dire for radio as they are for newspaper, of course, but the opportunities are just as profound. And radio should learn from the experiences of their print brethren the way Hollywood movie and TV studios learned from the dumb moves of the music industry.
Here are the seven “macro”-points, but you really must read the article:
1. Breakthrough online innovation won’t come from [radio]
2. “Local” is indefensible online
3. The big money is in vertical partnerships
4. [Radio] gain[s] by moving onto common platforms
5. [Radio] bring[s] critical assets to the table
6. The window of opportunity is closing
7. It’s all about leadership