WEDS MORNING MEETING WITH Robert Knight for 4/21/10
I LOVE THE GREAT RECESSION. In 2009, most of the annual deals we inked with stations were so outrageously low, that it was like paying Wal-Mart prices at a posh retailer like Nordstrom’s. Alas, the reality of the slow recovery means that inventories are beginning to fill up, and rates are on the rise.
But, radio has its competitive advantage over other media, like television. See, we’re not out of the woods with the recession—far from it, in fact. While Wall Street is posting record profits, Main Street is still sorting everything out. Many small and mid-sized businesses are still not marketing the way they used to—but they still need to market—just with less.
Radio is the perfect media in this instance. Compared to television, production costs are low and frequency is more affordable. Radio has its competitive advantage for 2010.