A new report from IBM confirms what many in our business have been feeling: a media divide between old and new media could result in billions of dollars in lost revenue if smart decisions aren’t made going forward.
Maybe that’s not even a headline in 2007, but as broadcast companies continue to grapple with various new revenue and content models – while holding on to the traditional business that got them to the dance in the first place – there are some very tough decisions to be made.
Steven Canepa, VP of IBM’s global media and entertainment unit, makes a strong suggestion to old media companies: "Put consumers at the center of your business."
If there’s a hint of NeoRadio in that statement, you’re hearing it the same as us. Beyond giving the audience a key role in the content end of our business, IBM’s advice for media companies includes the following:
1. Give up control to get share
2. Shift investment from traditional business to new models
3. Invest in interactive and measurable service
At Jacobs Media, these concepts have been part of our core philosophy for some time now. And our upcoming Technology III survey will help redefine the new and old media landscapes as we move deeper into another tumultuous year.
Thanks for the consultation, IBM. These are ideas that should be part of board of directors meetings and strategy sessions in every radio company.
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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