Radio Still Generates More Revenue Than Spotify and Twitter Combined
It was an interesting stat to come across on the same day that iHeartMedia laid off hundreds of DJs and other staffers.
Broadcast radio still generates more revenue than many of the current tech darlings including Uber. Spotify, Twitter and Square.
The reminder not to discount radio comes from media consultant Fred Jacobs, who says that ” radio seems to always get the short end of the stick in virtually any conversation about media, entertainment, technology, and financial performance.”
MORE: iHeartMedia Layoffs Could Top 1000
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Considering that radio is a closed loop (I.e., only music from major labels gets played) is anyone surprised? The majors are keeping all the money for themselves, while continuing to perpetuate bad music on the radio. No wonder satellite and streaming is becoming so popular, and terrestrial radio continues to fall.
More revenue for WHO? Not the artist