Innovation key to radio industry survival

Charles Kwasi Marfo

The radio industry has had a rough time recently. Radio listenership is steadily declining, radio stations are folding up, and journalists with years of experience are getting frustrated, with some even being laid off.

In response, some radio stations have made considerable changes. These stations are combating diminishing listeners’ interest by using social media to their advantage.

With the meteoric rise of social media sites such as Twitter, Facebook, and Instagram, many people have claimed that we have entered a new age. It seems as if the golden age of big names in radio business doesn't matter.

In this new age of technology, radio stations aren’t sure of how best to respond to many of the challenges they face today. By experimenting with different methods of keeping listeners interested, the radio industry is working tirelessly to keep broadcasting alive and make revenue.

Looking Forward...

Times are changing and radio stations must quickly realize that the methods they employed in the past may be obsolete today.

Innovation in the radio industry will involve changing not only the traditional journalism model, but also incorporating changes into its business, technology, and marketing sectors as well.

In the upcoming years, flexibility and a willingness to experiment with new methods will likely be the factors that determine whether a radio station survives or falters.

To survive the rapid transition to a direct-to-consumer future, radio stations need an effective fan-centric strategy — or risk decline and irrelevance.