Streaming and digital music services are exploding. Both in terms of audience reach and importance to artists. Just look at the release of Taylor Swift’s latest single “Look What You Made Me Do” which should be No. 1 on the Billboard Hot 100 chart next week based almost entirely on streaming and social media.
Traditional FM radio is starting to feel pretty retro in this new environment, but don’t just take our word (or top artists’ actions) for it.
Take a look at what is in store for the future of radio from the people who know the industry the best: radio personalities and media professionals.
The digital generation is here.
“We’ve watched the shift from traditional radio to streaming after an entire generation was ignored by radio… They don’t identify with it, it’s over-commercialized, it’s hokey and repetitive and it doesn’t resonate with them.” – Jeffrey Warshaw, Connoisseur Media CEO
Streaming continues to increase in popularity.
“The first half of 2017 has seen some incredible new benchmarks for the music industry. The rapid adoption of streaming platforms by consumers has generated engagement with music on a scale that we’ve never seen before.” – Dave Bakula, Nielsen Entertainment Senior Vice President of Analytics & Client Development
Radio is no longer the kingmaker.
“FM radio has lost its foundation of introducing artists to the world and turned into a follower instead of a leader in breaking music, often not playing songs that have peaked digitally until months later. And terrestrial radio simply hasn’t kept up with the times. Tight rotations, syndicated shows, force-fed music, and long commercial breaks feel stale at this point, especially for a generation raised on ad-free streaming they control.” – Scott “DJ Skee” Keeney
Connectivity will continue to infiltrate homes.
“As time goes on, radios are disappearing from the home front, and being replaced in many cases by smart TVs, wireless audio systems, and ‘smart speakers’ like Amazon Echo and Google Home.” – Fred Jacobs, Jacobs Media President
Conform or get left behind.
“FM stations now find themselves in the same place as old taxi companies when faced with Uber and Lyft—rather than competing to get better, they simply dug in and doubled down, focusing on simulcasting FM feeds digitally in apps, and it’s not working well for either party.” – Scott “DJ Skee” Keeney
The bottom line: bad news for radio.
“There aren’t a lot of good examples of media in secular decline suddenly growing again.” –Brian Wieser, Pivotal Research
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