We're welcoming back Paul Jacobs for a guest blog today:
If you want to get to the bottom of why radio revenue isn't growing, maybe it's time to face the harsh truth that we're out of favor with the advertising community. While we can argue the reasons, the finding from a recent study from Forrester says it all - if an advertiser had an extra $1 million in their media budget, radio would come in last among all of their choices.
It's time to stop arguing, hypothesizing, speculating, and terminating. Our industry clearly has an image problem. This is an industry problem, and organizations like the NAB, RAB, and other industry associations need to address it head on. Coming in last - after "other" is unacceptable.
And if there's any doubt left in anyone's minds about the importance of the Internet in our creative planning and revenue-generation efforts for our stations, just look at what's on top of the list.