Australia’s radio industry is experiencing a dynamic evolution, as it is a growing hub for radio with three major players in the radio market, namely ARN, SCA and NOVA.
‘Radio for us is about leading the audio charge these days, but we underestimate our ability to do so,’ said Amos.
Why has Australian commercial radio done better these days despite the changing audio scene?
The bigger picture is about standing united as audio players and galvanizing all broadcasters in the radio industry. An example presented was CRA’s name change from Commercial Radio Australia to Commercial Radio and Audio. As CRA invests their talent in radio shows, they are expanding that to include other forms of audio.
‘Radio is old fashioned,’ is the younger generation’s perception of it. It is important that we practice what we preach, the reignitiion of marketing and creativity, in order to work toward changing those perceptions.
Next, Live V Local. Live & Local is relevance and resource, while Networking is your star power and market noise. Finding a balance between Live & Local and Network can be powerful in a cost-effective way.
Australia invests in their talent and content. As Amos compared the wages of the top radio talent, he emphasised that it is about respecting the ability that the talent brings to the product. Investing and monetising in talent and content are crucial as they are radio’s best chance to survive.
Other than radio, podcasts, brand extension audio streams and DAB+ are all important in audio strategy. However, beware of the rabbit hole and not drift away from radio.
In the early days of AI, experimenting ahead of others gives you a head start in the future of radio. So, start experimenting now.
