In this blog, I’ll document Terrestrial Radio’s transformation from Radio Frequency Towers to Multi-Media Brands. From the inside and from up high.
- Some are in denial. “Terrestrial Radio is strong! Terrestrial Radio will rebound!”
- Most are claiming witness to its demise. They hammer Terrestrial Radio, often justifiably, sometimes with malice.
I’m here to deliver some reality.
Who am I? Why do you care what I have to say?? My name is Tony Renda, and I have more ‘skin’ in this game than you…and just about everyone else out there authoring or reading these 'industry' Blogs, Articles, and Twitters. I’m a guy who’s family business owns 25 radio stations. I've run 3 of our markets, 9 of our radio stations, including RBC's largest market and RBC's most proftable market. I've got revenue and profit goals that would make you wet yourself.
What do I think?
1) First and foremost, embracing the truth and defining obstacles is the only way to survive in the long run.
2) I fear the worst. The absolute worst. And I have for a long time. I fear that 3G & WiMax will kill the Terrestrial Radio Industry in a matter of years; I think Terrestrial Radio’s best days are behind it, and to argue anything different means you’re not paying attention. Will radio be a viable advertising medium in the short/medium run? Yes! But the clock is ticking, isn’t it?
3) I think that being content with a web page that compliments your Radio signal is scary.
You're not used to hearing these things from someone in my position, but it’s about time you did. Lots of opinions out there, none of them coming from this perspective. None of them from this high up inside a Radio corporation. Some I’ve come to respect: their links are to the right.
Over the next two years, as ‘Towers to Brands’ becomes THE source for Terrestrial Radio Stations making the transition, I will provide you with information, data, experiences, challenges, tough decisions, and answers to questions that you and your Terrestrial Radio Corporation are already facing.
Subscribe. You’ll enjoy the ride.
Tony
Posts
I'm curious as to how radio compares to other industries in adapting multi-media platforms.
ReplyDeleteVery interested to follow Tony - you're getting added to my Google Reader feed ASAP....
ReplyDeleteMatte says bub-bye
ReplyDeleteMuzak Files Chapter 11 to Refinance Debt
By THE ASSOCIATED PRESS
Published: February 10, 2009
Muzak Holdings, the maker of background music heard in elevators, filed for Chapter 11 bankruptcy protection on Tuesday.
The company had a heavy debt load, and it filed to try to refinance some of its debt. In a court filing, the company listed its total debt at $100 million to $500 million.
The filing listed assets of less than $50,000, but a company spokeswoman, Meaghan Repko, said total assets were about $320 million. That included the Muzak operating company, she said, which also filed for bankruptcy. She declined to provide a more exact figure for the company’s total debt.
Many of Muzak’s biggest creditors are music companies that license songs for use on Muzak playlists. While the company is known as the creator of elevator music, its business is now more focused on creating playlists for use in retail stores, installing professional sound systems and providing other services.
Muzak, which is based in Fort Mill, S.C., filed for protection in the United States Bankruptcy Court in the District of Delaware in Wilmington.
The company expects to continue to operate. A statement said it had “sufficient means” to support itself through a bankruptcy reorganization.
Among its biggest unsecured creditors is U.S. Bank, which is owed $371 million according to a court filing.
The American Society of Composers, Authors and Publishers is owed $213,020, the filing said.
Other top unsecured creditors include vendors like Universal Music Enterprises, owed $349,321; EMI Capital Records, $320,323; AT&T, $257,384; and Dish Network, $251,276.
Sony Music, BMG Film and Television Music, United Parcel Service and Virgin Records were also listed among the unsecured creditors.
Kirkland & Ellis was hired as the company’s bankruptcy law firm. Moelis & Company will serve as the financial adviser.
Tony - Enjoying your comments and looking forward to future posts....
ReplyDelete