OK, I'm dating myself, but the title of this blog entry is ripped off directly from one of the funnier radio troupes this side of the original "Saturday Night Live" lineup - Firesign Theatre. Talk about painting pictures with words - that's what these guys (led by Phil Proctor and Peter Bergman) were all about.
"Everything You Know Is Wrong" is the title of a Firesign Theater album released in 1974, and it's a phrase that often comes to mind these days, whether you're thinking about radio or even some of the crazy things that are happening in the world.
Recently, the highly-credible equities research team at Merrill Lynch came up with an analysis that downgrades the outlook for U.S. and global ad spending. While the global economy is expanding, ad spending is not following suit, which is an anomalous set of circumstances. The Merrill Lynch analysts can't exactly explain why this is happening, because historically, the two trends are in lock-step with one another.
However, other analysts think they've got it figured out. They point to the increasing efficiency and results that digital advertising has become famous for as a root cause of this trend. And the Merrill Lynch group pointed out that the Internet is the one "bright spot" in their report. They note that "the Law of Large Numbers" is creating momentum for more dollars to get allocated to digital media, thus bucking the trends.
And as we continue to note, radio broadcasting companies have a chance to share in these new revenue opportunities, especially on the local level. "Fish where the fish are" is something I've heard said in radio cubicles many times over the years. It's time for radio to listen to its own advice. Because these days, "everything you know" is being challenged again and again.