It should come as no surprise to anyone today that we live in crazy economic times!  Who knows what will happen next?  The day GM files for bankruptcy, the Dow goes up over 221 points! As of this writing, it is still over 8,500, but you can’t help but cringe wondering what will cause it to drastically dive again.  It’s great to read from Dan Mason and others that radio inventories are beginning to tighten up.  Maybe we’ve seen the bottom of radio’s recession, but then again, who knows?  Who thought that after 36 years, R&R would close up shop?

One thing does seem to be certain in this world of uncertainty.  The experts agree that the broadcast business model for both radio and television will change in the future.  New media technology and a refocus on localism will play major roles in the future financial success of traditional broadcast operations.  That was my major takeaway from the recent “Winning Media Strategies” seminar presented by BIA. 

For radio, it’s pretty clear that new media such as Internet, mobile, and other multiplatform opportunities can help create multiple revenue streams for those broadcasters who are willing to embrace, rather than deny the new technology or view it as a threat.  Those who don’t embrace it will find themselves in a declining spiral, for this also seems certain:  There are more marketing opportunities today than there are marketing dollars to go around.

On Tuesday, the 9th, I will be the featured speaker for the incoming class for the Colorado chapter of the Ohio Center for Broadcasting.  Many years ago, I used to question schools like this and whether they were relevant.  But, after serving for the last several years on their advisory board, I am very impressed with their curriculum.  And, in this day and age, where is our future talent going to get trained?  Does anyone have live overnight or weekend shifts anymore? 

It’s very interesting to me because the school doesn’t just teach traditional broadcasting skills.  The curriculum is rich in a new media environment with website and video components intertwined with audio editing and copywriting.  So, my question is this:  If tomorrow’s industry leaders are training for the new model now, how long will it be before the current crop of broadcast operators embraces radio’s new revenue model and the strategies that go with it?