“Kodak fell victim to a technology it pioneered because its profits from film were so vast it saw little need to stay ahead of the curve.” *
What threatens Radio? It isn’t Pandora or Spotify or Sirius.
The biggest threat is the insanely huge margins Radio has produced for 50 years: 35%+ year after year after year.
So easy and predictable that even those groups that have no debt, that have no reason to behave like Clear Channel and Cumulus and the other over-leveraged, debt-laden behemoths, do so anyway.
“Profits so vast it saw little need to stay ahead of the curve…”
Radio’s in a dangerous place, but the warning signs are all around us.
We’ll have nothing to blame but our greed if we, like lemmings, follow Kodak off the cliff.