It seems like every week, we’re treated to more and more news that our once-predictable, stable, media world is changing yet again. And fast.
Consider that this past week there were more “breaking news” stories coming out of the radio industry trades than on CNN. (And it appears that the radio coverage was more accurate, too.)
Here are just a few of the stories that everyone was talking about this week:
- Apple announced iTunes Radio
- MySpace has relaunched (again) and one of their offerings is MyRadio – yes, customized stations that you create and share with your friends.
- Pandora bought a terrestrial radio station in South Dakota.
- Fleetwood Mac cut a deal with Clear Channel marking the first time that a band has entered into an economic revenue sharing arrangement with a broadcasting company.
- Hubbard Broadcasting’s Chicago team spoke out about how their stream simulcast “same line Arbitron reporting” has led to higher ratings across the board.
- Greater Media’s Peter Smyth advised the industry to “stop the screaming and keep on streaming” in his newest think piece.
- In honor of Smyth’s directive, WRIF’s Screamin’ Scott changed his name to “Streamin’ Scott,” which has already earned him an uptick in the ratings.
OK, I made the last one up. But that’s a lot of big radio news for just one week.
So what do we make of all this change?
The media industry’s rulebook is looking more tattered than ever, and there’s a growing air of proactivity. More and more, brands are taking their futures into their own hands, forming partnerships, cutting deals, and redefining their roles in the new media space.
All this became clear to me after reading a Wall Street Journal article about Kid Rock. His goal is to change the business model of concerts. He’s lowered the price of tickets to this summer’s tour down to $20 by striking a deal with Live Nation. To pull this off, he’s taking on more of the risk himself. T-shirt and beer prices have been lowered as well. It’s the “$20 Best Night Ever Tour” and you have to believe that’s a positive branding step.
And here’s where it gets even more interesting – Kid Rock continues to act in the best interests of his P1s by reserving the first two rows of every concert for random fan upgrades.
As an act touring without a hit record, he realizes that conditions have changed, and he needs to think differently. Now more than ever, it’s about the fan:
“The best thing I can do is get people in the building and make some fans for the long haul.”
So as the media industry battles for share and attention, here’s a rock star on a mission to rebuild his brand and his base. Kid Rock’s new endeavor provides some great examples for radio brands. For example:
- Make it about the fan. And you’ll laugh all the way to the bank.
- Be different and stand out. While everyone else is charging too much and playing to half-full sheds, Kid Rock is making news and playing to packed houses.
- Create partnerships – even with the enemy. Kid Rock may detest Ticketmaster and it may have taken two years of discussions with Live Nation to put the deal together, but the results are powerful and speak for themselves.
- Respect your brand’s place on the curve. He readily admits his career trajectory is considerably different than it was back in the ‘90s and he’s adjusting for that. Like a pitcher who’s lost something off his fast ball, Kid Rock is getting savvier as he gets older.
- Feed your fans’ passions. As he notes, “My fans drink tons of beer.” By keeping prices low on lager, the tour serves its fans well, and they’ll sell a lot of beer.
- Collaborate with others. Kid Rock is offering to share his new business model with anyone other concerts because the goal is to change the business. Everyone benefits from a stronger concert environment.
- Adapt to the “new normal.” Noting that salaries and ticket prices were getting out of hand, Kid’s meets reality head on. Rather than fighting it and pining for the good old days, he’s embracing new models.
- Innovate. You don’t change the game and make news by doing the same events in the same way year after year. Like radio stations that continue to present promotions the exact same way, fan fatigue sets in.
So when you look back at last week, there’s a lot of learning from these many news stories, from Pandora to Peter Smyth to Kid Rock.
And we can all look forward to another rockin’ week in media starting on Monday.
Have a restful weekend.
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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Spot in, Fred. And, see spot run. Great ideas cost no money and bring in lots of lasting connections. Only problem is the diminishing number of creatives and or companies willing to stand out and take charge “the way it used to be.” Let’s hope more pick up the charge and pronto. Happy Dad’s Day Weekend to all. Clark
Clark, for Kid Rock, it’s a matter of attitude, approach, and knowing your fans. Thanks for the comment and Happy Father’s Day yourself.