Of all the types of entertainment media, radio is the one that is currently undergoing a drastic transition. These evolutions have the potential to change the very face of the industry. We list out a compilation of a few trends brought to you by the experts in the industry.
The Demise of Huge Radio Chains
Radio is very much a local medium and is successful only if it retains the local flavors. Large players might find it easy to begin radio stations at various locations, however they become difficult to manipulate and manage over time. Cumulus and IHeart are the perfect examples for this. These stations are seriously in debt and are right on the verge of folding in.
A Re-Birth of Local Radio
This is a continuation of the above. Radio is the best medium to engage with the local community and this will drive to a renaissance of local radio stations. Smart local radio operators will utilize this to their benefit and become highly successful.
Digitalization of the entire Radio Framework
It is true that the radio industry was built a century back when digital technology was zero. However, in the near future radio will shed of its age old technology and adapt to newer digital versions. Towers and transmitters will become a thing of the future and the majority of the content will be transferred via the internet. This will lead to highly improved efficiency and huge savings in operational cost.
Single Operators for Radio, TV & News
With digitalization, the need for different technology for tv, radio and newspapers have been eliminated. They are now operated on a single platform and there is a overlap of operational areas among these three modes of entertainment. This will see the increase of single players who operate on all these three modes leading to a more uniform content distribution.