The end of the year is upon us, and I hope you’re happy, healthy, and excited about what lies ahead in 2024. The older I get, and the more I work with different companies and people, I’m reminded that the relationships and results are what makes this all worthwhile. In my thirties, I wanted to stomp competitors into the ground, and own the space in the cities I worked in. I even did it a few times. But as happy as I was for my crew and seeing our strategy work, the more I learned it was about growing a business, and enjoying the ride with colleagues, not seeing others unemployed. If there’s only one game in town, the game itself becomes less fun. The professional benefits shrink too for those on the winning side.
It’s no secret that 2023 has been a roller coaster ride for the media industry. Take for instance this recent Forbes article. If their math is correct, more than 20,000 people lost media jobs in 2023. That can’t make you feel good about the state of our business. It doesn’t inspire confidence in advertisers to invest in us either. With 2024 approaching, there’s optimism, pessimism, and focus on what may change. The common belief is that revenues will rise due to a political year, but we can’t just look at dollars and cents when it comes to evaluating our industry. If we do, we’ll be back here in 2025 when political advertising shrinks.
I started covering sports media in 2015. News media coverage was added in 2020. During that time, radio and TV revenues haven’t risen like a Phoenix and headlines about both mediums have been mostly negative. Do a quick google search and look at how many stories focus on low stock prices, headwinds/layoffs, revenue projections missed, bankruptcy, executive’s on shaky ground, brands losing their identity and purpose, AM radio becoming extinct, etc.. This is what investors and advertisers see every day. It creates a negative perception of our business. You’d see it that way too if you were in their shoes.
Now combine that with the way media sells the next big thing. Meta told us virtual reality was the future but bailed on that idea in favor of artificial intelligence. Spotify dove into podcasting with its foot on the gas but is now driving under the speed limit. Elon Musk bought X to be the everything app yet can’t inspire confidence in the advertising community.
Radio’s issues are more self inflicted. Groups have been saddled with so much debt that even a good year in local markets gets ignored due to larger corporate problems. Judging from what gets printed you’d think no radio station grew revenue this year, which is false. TV isn’t immune either. All too often the focus is on viewers aging or watching less, and young people streaming yet the biggest point gets missed – people are still watching content, most of it produced by the TV industry. They just do it in different ways.
I’m sure there are exceptions but those I know who work in radio, TV, podcasting or social media do so for the access, content, creativity and fun. If you do the job well enough and long enough, the pay can be pretty good too. Most don’t enter the business to discuss plans to boost a stock, raise quarterly revenue or frame a press release to soften the blow when laying people off.
Our industry is attractive because we create programming that excites viewers/listeners and is led by people who are passionate about the content featured on their brands. When that content is supported by data that shows people enjoy it, it attracts advertisers. If those paying clients invest in a brand, and it increases sales, that creates a healthy business. This isn’t rocket science, folks.
My hope for 2024 is that the media industry puts greater focus on resetting its messaging and marketing its stars. Podcasting and streaming get discussed with high enthusiasm. Marketers are made to feel that they are growing spaces they have to be in. Radio and TV, which are both larger, and have delivered results for decades, are seen as less attractive. But they shouldn’t be. We’ve allowed that to happen. The only way to change it is to remind people what makes radio/TV special, and how well it works. It starts with marketing the right people and message. Otherwise perception becomes reality.
Too often I see narratives shaped for advertisers and investors instead of the public. If you want the business world’s money and attention, don’t bore them with business headlines. Create a party with your stars, attract a passionate audience, and generate results. Do that consistently and watch how fast the money follows. Given how our industry has been portrayed the past decade, we’re not inspiring many with hype about revenue projections, profitability, and staff reductions.
An Important Year For Barrett Media
We enter 2024 with a lot of promise. Dave Greene was recently announced as our new Chief Media Officer. I also revealed a few additions, and shared that I’d write a weekly column and host a podcast in April. But we’re not done. We’re adding two more columnists, who I’m very excited about.
Mark Kreidler joins BSM to write a weekly column on Wednesday’s. Mark is an award winning author who previously wrote for ESPN, the San Diego Union-Tribune, and Sacramento Bee. He has also worked in radio for 95.7 The Game, Sactown Sports 1140, and ESPN 1320.
Dave Williams is also joining us to write a weekly column each Friday on BNM. Dave has spent over four decades in news/talk working for top brands such as WBAP/KLIF in Dallas, KNX in Los Angeles, and KFBK in Sacramento. He announced his retirement from radio in early November.
Cementing our position and value as a media outlet is a priority. We root for the industry, support it, and try to educate, celebrate, inform, and challenge those inside of it. But with that comes a responsibility to offer opinions and cover the news. We prioritize 4 key things on our websites: features on industry people, expert opinions from columnists, daily news about brands/people changes or performance, and industry reactions. The occasional 5th area of focus is original projects like the BSM Top 20.
Our editors and news writers watch, listen and read daily. If it’s said on the air or social, it may end up on our sites. You’ll agree with some, and disagree with others, but it’s no different than how athletes react to hosts talking about sports. The difference is we highlight discussions about media brands, people, and the industry not local teams.
If you see something you don’t like, Garrett and Dave manage our websites. Both are accessible – GarrettSearight@gmail.com or DaveGreene34@gmail.com. Just understand that if brands make decisions, results are bad or public comments are offered, we are going to cover it.
We’ve spent 8 years building two respected brands and working hard to attract industry professionals. With two websites, newsletters, social media brands, and conferences, I feel good about our progress. The web traffic, social media impressions, and newsletter data shows that we’re on the right track.
Consulting clients and executing top notch events remain my top priority but growing our marketing partnerships is vital too. Stephanie Eads has worked hard on this and we are excited to welcome Ramsey Solutions, JJ Surma Voiceovers, Harker Bos Group, Doug Stephan’s Good Day Networks, and the Motor Racing Network as 2024 partners. We’re also thrilled to extend relationships with our friends at Point to Point Marketing, Backbone, Steve Stone Voiceovers, Core Image Studio, Jim Cutler, and Premiere Networks. If you’d like to work with us too, contact Stephanie by email at Sales@BarrettSportsMedia.com.
To continue building BSM and BNM, we are launching two new newsletters next week. BSM will deliver the 8@8 weekdays at 8am, and the Press Pass at 5pm. BNM will distribute the Rundown weekday mornings at 9am, and the Wrap Up at 6pm. Our afternoon editions will feature a different content approach so I look forward to your feedback on it. To sign up for BSM’s newsletters, click here. For BNM, go here.
Sticking with BNM, we will have a special announcement on Tuesday January 2nd at 9am. I’ll be announcing the dates, host city, and venue that day for our 2024 BNM Summit. Our 2023 event in Nashville was excellent but I think this next one could be even bigger and better. The Rundown and BNM’s website and social media accounts will relay the details. Also, BNM is launching a special series the week of January 22-26. Public Radio Week will feature NPR folks all week long.
Before I wrap up the column, I want to address a few BSM items. First, the BSM Top 20 of 2023 drops February 5-9 and February 12. Voting opens next week (January 2nd) and emails will go out to all PDs and executives invited to participate in the process. We’ll also have two new original projects in January starting with Social Studies written by Alex Reynolds on Wednesday January 3rd. Peter Schwartz’s monthly feature Where Are They Now debuts Tuesday January 30th.
We have other things in motion for February including a cool project titled “A Day Spent With.” Derek Futterman will run point on that series. I’ll share more in my next column on January 8th.
Last but not least, the 2024 BSM Summit takes place March 13-14, 2024 in New York City. We’ve already announced a number of people and I’ll have another announcement next week. If you plan to attend, don’t wait until the last minute to buy a ticket and reserve your room. Go to BSMSummit.com to take advantage of our holiday sale. It expires Sunday December 31st.
I want to thank you for continuing to read our work, following our brands, attending our events, and considering the different ideas and opinions offered by our writers. Covering this business is complex. It has its fair share of warts but it also provides a ton of value, massive creativity, incredible content, and a path full of untapped potential. More importantly, it’s full of quality people. I look forward to watching each of you build stronger businesses in 2024, and helping those who I’m fortunate to work with.
Cheers to 2024!
Jason Barrett is the President and Founder of Barrett Media since the company was created in September 2015. Prior to its arrival, JB served as a sports radio programmer, launching brands such as 95.7 The Game in San Francisco, and 101 ESPN in St. Louis. He also spent time programming SportsTalk 950 in Philadelphia, 590 The Fan KFNS in St. Louis, and ESPN 1340/1390 in Poughkeepsie, NY. Jason also worked on-air and behind the scenes in local radio at 101.5 WPDH, WTBQ 1110AM, and WPYX 106.5. He also spent two years on the national stage, producing radio shows for ESPN Radio in Bristol, CT. Among them included the Dan Patrick Show, and GameNight.
You can find JB on Twitter @SportsRadioPD. He’s also reachable by email at Jason@BarrettMedia.com.
