We don't sell Newspapers
A shock in my local shop
My local shop doesn’t sell newspapers anymore.
Simple as that.
The girl behind the counter just shrugged and said there wasn’t enough demand any more.
That was quite a visceral shock to the system. I’ve seen the gradual decline of print, as we all have, newspapers have drifted from being an essential part of the weekend, to a rarity now.
And last week saw London’s Evening Standard announce that they’re no longer printing a daily edition, blaming improving wifi on the Tube as one of the causes for the end of the printed version.
I remember the crush heading down to Oxford Circus when I worked at Magic, and the speed at which the inky fingered distributors would ensure that almost every commuter had a copy of the Standard in their hands.
It makes sense in a world where we’re far more conscious about paper, printing, recycling and the environmental cost of newspapers, but it definitely doesn’t feel like it’s environmental concerns that have driven the decline of newspapers.
I was in Cork last week, and you can still here the traditional shout of “Echo!” as you walk down Oliver Plunkett Street, but it can’t be too much longer before the Evening Echo wraps up its printing press either.
Newspapers migrate Online
Of course, newspapers have not disappeared, they’ve simply migrated to online, apps and webpages, and podcasts, but from an advertising revenue point of view, I don’t think they’ve managed to replace the incredibly lucrative revenue stream that was the full page colour ad.
That was the ultimate statement of intent from a brand, a one page, a two page, or a wraparound cover and it’s hard to replicate that kind of revenue in a world where click through rates and CPMs remain significantly lower than the prices for print advertising.
There’s been a concerted effort by newspaper groups, to push hard into audio too, much like the Middle Eastern countries who have flooded money into football, tourism and business hubs, in a bid to build a new economy before the oil based one runs dry.
The Guardian, The Times, The Telegraph and The Mail, along with The Economist, all have planted substantial flags in audio now, and are enthusiastically competing in audio based around news, politics, sport and showbiz.
The space is more crowded though, with players like Global, Goalhanger, Wondery and Audible all fighting for listening ears and revenue.
So, where does that leave radio?
I think we’re quite complacent to be honest. Happily wandering along, assuming that FM will last forever, or at least that comparable systems will provide us with equal audience.
Most radio people are delighted to see streaming numbers on Smart Speakers rising, with about 10% of listening time coming through those devices, that may have replaced the faithful kitchen radio.
And in the UK, one of the last acts of the departing Tory government was to pass the new Media Bill, which amongst other things, includes protection for radio services to make sure they remain freely available and accessible on streaming services.
It’s a good idea, and one that Ireland and other countries should also consider. For companies like Amazon, the voice controlled speaker in the kitchen probably hasn’t delivered the game changing shopping channel they hoped, as people opt to use it more for entertainment, and if my house is anything to go by, a kitchen timer.
Yet for radio, it’s given us a second chance at prominence in one of the most important rooms in the house for our services.
There’s still a huge battle to be fought for access in the car too, which industry initiatives like Radio Player are doing, preparing for a world where cars don’t need FM receivers, and instead stream content directly.
Broadcast Radio is still critical
But I think we underestimate the importance of Broadcast Radio as a backbone for our industry, and a future in which everything is streamed will have an impact on our reach, our ability to recruit new listeners and most importantly radio’s place as a topic of conversation.
If we’re all streaming our own choices, whether it’s radio, or a podcast, or a TikTok video, we start to split off into different channels, losing some of the sense of community that major news stories or dramatic events create.
It’s happened with TV, it’s less and less likely that someone says, “did you see that show, last night”, and more likely that a streaming show will slowly gain traction, like Baby Reindeer, or The Morning Show.
It makes workplace conversations more fractured, it helps to erode the sense of shared experience, and there’s nothing weirder than seeing a family gathered around a dinner table all watching or listening to different things.
We know that we have a competitor to radio in podcasts, and while people tend to add extra elements to their audio portfolio, for younger audiences, radio is at risk and in the long term, the time spent listening to radio will be eroded.
2FM’s Future
It’s part of the reason that we should be concerned about services like 2FM, whose agonies can still command front page headlines, and remember that the scale of national FM transmission does still have an impact and a universality that is important.
One of the recurring comments around my last newsletter on 2FM, was that RTE should just ditch, or close, or take 2FM off FM entirely and promote RTE’s Gold service to FM instead.
Apart from the fact that would potentially impact my day job at Ireland’s Classic Hits Radio, it does reflect an understanding of the importance of that position on the FM dial and gives a sense of value that people still place on radio.
Above all, we should celebrate radio while it’s still in good health, and work to pull new talent and new voices into the medium.
We also need to keep fighting to make radio a broadcast meeting for as long as possible.
This has been the 41st official edition of the RAudio Newsletter.
Apart from writing newsletters, I also consult to radio stations and podcasts, so if you have a question, or a project you need help on, drop me an email – liamathompson@gmail.com
And I specialise in monitoring shows and presenters and providing clear advice and actionable points to help you coach or make strategic decisions.
You can also send feedback, questions or potential topics – you can also get me on Linkedin https://www.linkedin.com/in/liamthompsonconsulting/ or on Twitter @Maxliam