We’ve all seen it before. And it often results in a cringeworthy combination of sadness and worry when it happens. Fortunately, it was a more common occurrence a decade ago. But it still happens today.
You’re in a meeting, digital is the key topic, and something relatively basic comes up – podcasting, social media, streaming, the car dashboard – and it’s obvious the company’s leader has no idea what anyone’s talking about.
Now, I’m not talking about a new product or cutting-edge gadgets. I am talking about fundamental technology that directly impacts their core business, in this case, radio broadcasting.
Let’s get real. There are myriad challenges running a media company in 2022. The competition has expanded exponentially and disruption is a constant. The basic value proposition of radio has been rocked – to its core. Radio’s executive class cannot be expected to know everything, but a basic understanding of how media and technology are being used – and will be used – by their customers is table stakes. And that means content creation, marketing, and advertising – all changing rapidly.
Then there’s the aftershocks of the pandemic, workforce challenges, and in recent months, rumors of an impending recession.
You can understand how the people running the companies that own and operate radio stations – commercial, public, and Christian – are under heavy pressure to perform, often in suboptimal conditions. For public companies, it’s even more intense. Investors, boards, and Wall Street are all demanding, looking for higher profits, better margins, and a future-facing strategy that’s sustainable.
It’s not enough to simply hire that brainiac chief digital officer. Sure, that’s a plus, but delegating the responsibility of “keeping up” to someone else on the team no longer flies. Not to compare, but do you think Mark Zuckerberg, Tim Cook, Elon Musk, or Richard Branson could talk your ears off over the technology that’s new and next, and how it will impact their businesses? You bet they can.
A new article in a publication called CIO Dive points out the obvious:
“Boards looking to CEOs, not CIOs, to lead digital initiatives”
Lindsey Wilkinson points out how new Gartner research shows that a strong majority of boards (57% of those surveyed) are looking to step up their “risk appetite.”
And this:
Nearly 9 in 10 board directors say on new business growth initiatives hinged on digital, the company’s head man or woman should run point – not the CTO or CIO.
Gartner’s Partha Iyengar (pictured) doubles down on this assertion noting that the focus should be about “the CEO calling the shots in digital business.”
Iynegar also asserts how the drivers for growth in industries such as banking, retail, telecom and healthcare have changed.
“So that’s being turned on its head, where technology defines the competitive realities in the industry.”
And isn’t this true for the media and entertainment business, too? Yes, radio is still about a human with talent sitting in a studio behind the mic (in most cases) creating audio content for listeners, advertisers and communities. The equipment in the control room has evolved but the process is pretty much the same.
That, however, masks how the entertainment industry has forever changed. Much of how the media business has transformed over the past two decades is firmly rooted in digital technology and how it has altered the ways in which we entertain and inform ourselves.
Companies that embraced it early are very likely ahead of the game today. And sitting on the sidelines to see if a technology or platform like smart speakers, TikTok, or podcasting become mainstream is no longer a viable strategy.
Many radio broadcasters distinguished themselves in the 90’s and early 00’s by taking a “wait and see” philosophy. Today, we know that “strategy” is a non-starter.
And Iynegar reminds us, “….a business cannot say, ‘I’m not going to make decisions until the fog of uncertainty lifts’ because that’s not going to happen anytime soon.”
Should we pity the poor broadcasting CEO behind the technology curve? No. Boards, customers, shareholders, and employees should question why the boss doesn’t have a better grasp of what’s now – and what’s next.
That’s why we’ve made the trek to CES these past dozen or so years – and we’ll be braving the crowds
and smoky casinos the first week in January in Las Vegas. And as we have since 2018, we’ll have a few dozen execs in tow, eager to learn, absorb, and commune with technology and those who create it.
Our tours were originally designed for CEOs, and while several are still along for this amazing ride, other attendees are now members in good standing of the corporate team – from commercial, public, and Christian radio. Execs from Nielsen, RAB, NAB, and numerous CEOs from our many state broadcaster associations have joined us on this journey.
Based on conversations Paul and I have had, I’m expected at least one syndicated radio personality to join us. It makes sense.
We work closely with team at the organization that presents CES, the Consumer Technology Association. Steve Koenig, Shawn DuBravac, and Lesley Rohrbaugh are outstanding tour guides, all of whom have spoken at Jacobs Media events, as well as appearing at our tour dinners. Working with them and the rest of the CTA brain trust, we’re tasked with crafting a tour loaded with technology, insights, and the factors that will impact our companies – today and down the road.
The metaverse is coming to CES, along with a much-anticipated strong showing from the auto companies, major players in radio’s present and future. CES is also excited to welcome back mega-brands that took the last couple years off – Amazon, Google, and Microsoft, to name just three.
But every year at CES, there’s the unexpected – the “oohs and aahs” you never thought you’d bump into. CTA CEO Gary Shapiro refers to this vibe as the “serendipity of CES” and I can attest to that. Paul and I spend these early days of each new year looking for major themes and ways we can connect the dots.
Being surprised, amazed, and even enchanted is part of the reason why we’re hooked on this experience. If some of you think of us as thought leaders, thank you. It starts at CES each January.
Whether you’re in charge of a company that owns 400 stations, 40, or even a cluster of 4, the experience is special and meaningful. It’s likely why half our attendees this year have been with us on previous Jacobs/CES tours.
We’re dedicated to putting on a good show for both the many “CES virgins” along for their first time, as well as these returning executives. As you might imagine, our attendees also enjoy hanging out and socializing with each other at an event where few will be recognized by the expected 100,000+ conventioneers.
If we can be your Sherpas for CES 2023, click the link here, and/or email us for more info.
It’s a journey – an exciting one for sure, but also one that can seem daunting and intimidating. We want every radio CEO to be as knowledgeable about new and emerging tech as possible. Making our way through the sights and sounds of CES is challenging.
We’ll get you through it.
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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Best wishes for a successful CES, Fred. If anyone can save CEOs from themselves, not to mention the industry, you’re that guy.
I’m happy to tell you, John, that interest is strong this year. I’m expecting a bounceback year for CES – maybe north of 100,000 attendees again. It’s a great experience, and I’m glad Paul and I are able to do it. Thanks for the kind words.