Lloyd Christmas & Radio

What does radio and Lloyd Christmas have in common? They both think "there’s a chance" for a new relationship in their future. Both are delusional.

There is zero chance for radio to be relevant to the next greatest, largest generation in history doing the same things the same way it’s always been done. Radio continues to put the past on a pedestal and is ignoring the present which means there is no future. 

93% Reach

93% reach is the only statistic that is signaling to radio that in the words of Lloyd Christmas “there’s a chance”. 

93% reach is not the doctor’s diagnosis that says radio has a clean bill of health even though radio acts like it is.

93% reach is Nielsen’s story that “there are customers in the store”. The steepening decline of radio ad revenue means that advertisers are not convinced that 93% reach is real or that it matters.

Scale Matters

Content matters. Creative matters. Context matters. When everything is in line…scale matters most to be able to reach desired attention levels and necessary impact to succeed.

To quote famed marketing academic Andrew Ehrenberg…”you must hit people at scale”.

Radio Has Scale

Radio is wasting its most valuable asset…scale.  

That Nielsen number 93% reach represents touch not engagement. 

The real story is that even though “reach” remains constant YOY the metrics that measure engagement do not. TSL (time spent listening) has been in decline as has PUR (persons using radio) for a number of years.

Think about your own relationships. Spending less time with someone is the first behavioral sign of dissatisfaction. If the reason for that dissatisfaction isn’t identified and addressed the next step is a breakup. 

Listeners are being romanced by many platforms, fun entertaining new content, new music services and constant attention in the palm of their hand. A breakup with radio is inevitable.

But 93% reach is telling radio “there’s a chance”.  

Radio is not showing they understand that – “what got us here will NOT get us where we need to go”.  Change is happening so radio better get in front of it!

9 Things Radio Will Not Do (but needs to)

1 – Obsessive focus on serving the next greatest generation in history Gen Z.

2 – Choose one of the 4 formats with white space available to dominate this new target. (AC, Country, Pop/Alt, Urban AC)

3 – Make the product perfect! Do in-depth perceptual research and music testing. The only way to get separation from other stations is perfectly targeted, balanced emotional music that represents the musical DNA of the largest cohort in history. Music focus in all day parts.

4 – Cut spot load by at least 50%. This station only shares information, products, services, experiences or events specifically relevant to the lives of this most important cohort. Zero remnant.

Only "live" spots two at a time (podcast-like from a trusted talent). Other revenue from underwriting, sponsorships, DTC verticals, partnerships for revenue sharing, experiential events.

5 – Everything LIVE! Everything on video. Talent is our other superpower.

6 – Hire Gen Z content creators to produce, be the face and voice of content. 

7 – Create DTC verticals in music, food, health, finances, fashion and experiences (travel). No more being the middleman for others promotions/events. Create and promote, own.

8 – Move the studio location. The studio location should generate revenue! A mall should give free rent for the customer traffic a station would attract. Consider a station inside other businesses we may own (coffee/candy/ice cream/fudge/vinyl record store/kitchen/bakery/fast fashion/grocery etc.) Not a remote broadcast but long term location where the people are. It’s $$$.

9 – Create Pop-Up radio! Make the station a destination. A place for selfies.  A Pop-Up store that products/services pay a premium to be a part of.  Create a new Pop-Up store/event every week with partners and sell product/merch. Be where the listeners are. Be larger than life! Be Instagram worthy!

Go to school on Johnny Cupcakes. He makes millions $ making people happy with T-shirts. https://www.youtube.com/watch?v=UIiPbEdpqhc