The old saying, around campaigns coined by a Democratic consultant year’s ago, “it’s the economy, stupid”, was a well-known catchphrase alluding to the main concern for voters was the American economy, and how it impacted their own personal finances.

THAT’S NOT WHY WE’RE HERE…

I’m talking about radio and why so many stations are, let’s be honest, seemingly failing (for sure, flailing). Listen, my company has historically done well when news departments need to be supplemented, someone retires or a station can’t find a local person (or won’t/can’t pay to relocate anyone), or they want to spend money on other things, like promotions, updating their website, etc. But now it goes beyond news departments, as we know, the hits are happening across every department at radio stations big and small.

Last week I had lunch with a client whose station is located in, what I like to call, tiny town America. They have an unusual footprint, stretching for many miles across an expanse of land over NY and PA. They have 4 full time on-air people, almost unheard of these days, when you put them up against the behemoths letting people go left and right. The GM and her team not only sell, but the whole team is out in the community, constantly. They post on socials, and many times they will do that while live at events. They let their community know, they can count on them. They sponsor events and prop up other events on the air and on their calendar. They have live morning shows, and one is even on a news talker (see above logo). The GM credits the team for being dependable, passionate, and let’s face it, beyond committed to the art. The New York State Broadcasters Association just honored the group with three “Serving NY Awards”, for serving their community.

I asked consultant Mike McVay his thoughts about how stations small and large can continue to be successful without laying people off. He says the industry is in a sort of redirect or “time of correction”, and says he believes smaller and medium markets, especially seem more committed to their communities and the advertisers they service. He didn’t say it the other way around. 

Also, let’s face it, the economy is not healthy at the moment. Gas and grocery prices are out of reach for many. That means that some companies will hire talent who are less expensive and turf the higher priced folks. But, why are they not turfing executives? It’s like the people who keep running for office in DC. You have a great pension, don’t you want to golf? 

It’s my personal belief that the higher paid talent, got there for a reason. And a manager agreed to raise them to that rate. Have you asked them if they’d stay for less? Some of us love the game, and might consider it. 

JUST ASK! Because the community knows them, and you might lose listeners by letting them go. And that’s lost money. 

**and why not ask managers if they’re ready to take a hit for the team too? 🤷🏼‍♀️