This year, 2016, will mark the beginning of a new chapter in the mass media, broadcast industry.
It is inevitable that similar entities and businesses with similar (interchangeable!) products should pool resources, collaborate and even share gains in order to survive the onslaught of competition that digital has enabled. It makes sense to you that the largest and strongest, business ecosystems will have the best chance to survive–enough, just to compete with these companies. You know the competition. These huge companies with bottomless pits of capital like Apple (Music), Google (Play), Pandora (Rdio), facebook (whatever) and the phone companies as entertainment services (also don’t count out MySpace just yet). These guys are the real competition because they are getting into every conceivable business that makes sense and that includes publishing and broadcast. The mass media publishing and broadcast industry isn’t difficult to replicate as we saw with all the OTT blogs and the “TV” and music streaming services that have proliferated. There is no middle ground, now. It’s all the way or no way.
And for radio: The record companies make deals with anybody. And recently, to some extent, those deals have excluded radio (Adele). If hot, new music releases were only debuted on Pandora or the the new Verizon Entertainment Service, it wouldn’t take long before music radio has a big problem.
It’s making money with the content that is hard to do and that is where strategy must play a differentiating role.
It makes sense that if your company has a chance to join forces with other companies and share similar processes, product, advertisers and sales goals, then, with transparency, collaboration and mutual business strategies the result would be lowered costs to operate while building a more powerful, mass media entertainment and advertising machine (network). Here’s my Big Idea for 2016:
If there was such a mass media coalition – owned and operated by the participants but connected and driven by shared strategies, more automatic processes and advanced technologies and also offered marketing assistance, education and information about how to operate, integrate and ameliorate, plus gave continual feedback on how everything’s going along with your own daily ROI; all delivered to you in a transparent yet secure, helpful and supportive, way – wouldn’t that be interesting? Being a part of something bigger AND better. ###
“It’s always better to participate in creating the future than to be a victim of it” ~R.Solis