Today, more and more consumers are paying monthly subscription fees to access the great content they want, when they want it, on the device they want. Think Netflix, Disney+, and Spotify, to name a few.
These companies are investing massive amounts of money creating innovative and exclusive premium programming to attract consumers. Netflix reportedly spent over 13 billion dollars on original content during fiscal 2021 including hits like Squid Games, Money Heist and Bridgerton. Disney+ brings subscribers exclusive programming from Disney, Marvel, Star Wars and Pixar as well as the Peter Jackson documentary, “The Beatles-Get Back.” Spotify reportedly paid podcaster, Joe Rogan, 100 million dollars for exclusive rights to his podcast.
Bob Iger, former Disney CEO and Chairman, said “The single most effective way to grow our subscriber base is with great content.”
Does your radio station offer subscription worthy content? If your answer is music, you’re in trouble. Music is available everywhere and streamers can offer more music, a wider variety, and with fewer ads than any radio station.
What does your station offer that’s unique and recurring, daily, or weekly, which cannot be replicated by a competitor and is so interesting or entertaining people make it a point to listen and feel like they missed a lot if they don’t hear it? In other words, what’s your station’s Yellowstone? It may be a show, a personality, a benchmark, a feature, play-by-play, or something else.
If your station doesn’t offer standout, buzzworthy, must listen to content that’s so good listeners would be willing pay to hear it, make it a priority to add that “something” to your station’s line up in 2022.
Ken Benson is a multi-award-winning contemporary radio and music television programmer. Today, Ken is a co-founder and partner of P1 Media Group, providing insights and strategies to leading media companies around the world. He can be reached at firstname.lastname@example.org