As the saying goes misery loves company. My recent visit to the NAB conference in Vegas was confirmation. It was almost like a competition.... which person could tell the biggest horror story about how awful their business was, how their portfolio was wiped out, how much their market capitalization has dropped, how they had no money. In the days of conspicuous consumption the bragging was about how much they had. Today its about how tough things are. To some extent it seems like everyone tried to top each others stories of misery.
I had decided not to go to NAB this year because I assumed it would be dead. But like a true radio addict, I could not stand the thought of a radio conference going on without my being a part of it. So, at the last minute on Tuesday morning I flew to Vegas and spent the last couple of days there. I'm glad I went.
Though everyone I encountered was talking about their misery, I found it somewhat comforting. Misery loves company indeed, not because we relish the idea of topping one another with our recent horror stories, but because there is comfort in knowing first hand that you're not alone. Though I knew that without going to the NAB, any good therapist will tell you it's good to talk things out. As I talked with dozens of broadcasters I felt more confident than ever that we will get though this train wreck they call an economy. Most encouraging for me were the little bright spots of hope I'd hear from various stations about ideas that are working, about areas where their business is actually improving, about a March, which for some exceed March last year. Many stations told me their business was had not crashed like so many others and was holding up.
There were actually a lot of radio people at the NAB this year. Maybe not quite as many as normal, but the ones who were there mattered. They were there because they had no intention of giving up, they were instead investing in their stations, their growth, and their future. The value of an event like this is you can gain a lot of perspectives and a lot of information in a brief period of time.
Somehow those two days at NAB energized me. Time with fellow broadcasters was invigorating, encouraging, and gave me tremendous hope for this industry. I left learning an important lesson. There is tremendous value in spending time out of your environment, learning from others, and discussing business with people, who are facing many of the same issues. I wrote a note to Tom Elmo, my chief of staff saying "next time I get the bright idea of not going to a radio conference, kick me in the butt and tell me to go anyway." I always get more out of going to these things than I expect. Not only did I leave encouraged, I also did a lot of business, made some important contacts and deals, and learned about some products, which are significantly valuable to radio. All that in two days. Imagine if I had stayed a week!
What's my point? Everyone is cutting back and reducing spending on conferences and by so doing they are missing out on opportunity, education, fresh ideas, contacts, and a chance to become reinvigorated. Sometimes the best thing for your business is to get away from it. When I get in the zone I don't want to stop. Yet I reach a point where the ideas stop flowing. Today my staff has been inundated with fresh new ideas, all because I got away and spent time with others outside of my office... and I wasn't going to go. Yet the return on my investment far exceeds what I would have saved by not going.
Eric Rhoads
www.radioink.com
Yes radio is important to record labels, local advertisers and local communities and the individual public. Radio is powerful and I was taken aback a bit when radio was challenged by NAB's David Rehr at the Convention last week..."TV has generated great public awareness with their on-air campaign regarding HDTV, can
Radio say the same for its on-air promotion of HD Radio !" Radio certainly would if the message was, "you will lose radio unless you switch to HD by June 12th". That would certainly generate awareness !!! Radio is powerful and radio needs to get the message out to the public how record labels are duping/lobbying Congress and limiting the future ability of radio to deliver what the public wants, the music they like, free.
Posted by: Jim Champlin | April 29, 2009 at 05:50 PM