Last week, I wrote about the power of the human voice. Each of us who decided to make radio a career was influenced by the voices we heard coming through our radio speaker.
My first radio, a pocket Zenith Royal 50 transistor, was purchased at Sammy Vincent’s Music Store on North Street in Pittsfield, Massachusetts. My first SONY reel-to-reel tape recorder would also come from Sammy Vincent’s.
Both of these wonderful electronic devices would be the foundation of my lifelong radio career.
Sammy Vincent’s was also the place to get a free copy of the latest WPTR-AM1540 Top 31 songs of the week.
Boom Boom Brannigan
WPTR had many famous voices travel through its 50,000-watt AM broadcast signal. Its most famous voice was that of Boom Boom Brannigan. You can hear an air check of Boom Boom from January 1974 here. The Albany Times Union wrote upon Boom Boom’s death in 2010 at the age of 82, “Boom Boom Brannigan, a pioneer of rock ‘n’ roll radio in the Capital Region was known for his energetic personality, sideburns and bright fashions. For decades, Brannigan was the voice of the local airwaves, a high-profile DJ who delivered the hits that defined the music of the baby-boom generation.”
Every market had their own Boom Boom.
For example, Boston had Arnie Woo Woo Ginsburg, New York City had Cousin Brucie and Los Angeles had The Real Don Steele.
Each, larger than life personalities, that lived the part of being a radio star. Each more important to their listeners than the hits they exposed them to.
Bob Lawson, who worked with Brannigan at WPTR in 1964 put it this way, “They were the real stars in those days, and Boomer was the epitome of radio stardom.”
These legendary radio personalities caused so many baby boomers to get into the radio industry.
I had the opportunity to meet Boom Boom one Saturday afternoon when he was broadcasting from a little phone booth like studio in the transmitter room, next to the huge 50,000-watt transmitter. He was the consummate gentleman and further inspired this young broadcaster as he let me sit in with him during his broadcast that day.
Fresh off CES2018 many radio executives are talking about the latest shiny new things that are on the horizon and how they will impact radio. Everyone’s talking about how radio needs to innovate. The big question is how does the radio business manage its innovation resources.
In his book, Mapping Innovation, author Greg Satell cites the 70-20-10 Rule that is used by companies like Google to allocate resources.
70% of a company’s resources should be invested in sustaining improvements to existing products. Eric Schmidt, Google’s Chairman, said the 70-20-10 Rule insured that Google’s core business would always get the bulk of the resources.
20% of available resources should get invested in exploring adjacent opportunities.
The remaining 10% are for creating something entirely new. Something that most likely will crash and burn, so you want to be able to sustain this effort without it damaging your core business. What Satell said he learned about businesses that invested in basic exploration was they all eventually hit on something big.
What would you say radio’s 70-20-10 rule is? 70% goes to pay down the debt? I’m sure many come away with that impression from what they read in the trades. But not every broadcast company is in that predicament.
How about your radio company?
Consider this operating strategy: 70% of your resources should be invested in your people who create the radio you broadcast every day. 20% should be invested in the adjacent delivery pipelines, like streaming, NextRadio and voice activated devices. And 10% should be invested in building a new paradigm.
What’s happening in the 21st Century is the acceleration of change for all industries. Innosight predicts that about half of the S&P 500 will be replaced by 2026. Back in 1965 33-years was the average tenure of a company on this stock exchange. By 1990, this narrowed to 20-years. By 2026, it’s forecast to drop to 14-years.
So, the gale force winds of change have never blown with more velocity.
Community & Companionship
What great local radio personalities each created in their markets was a sense of community and companionship for their listeners. That’s radio’s core business.
It’s where the bulk of your resources should be directed.
Put your money where your mouths are.
5 responses to “Put Your Money Where Your Mouths Are”
Dick…a long time ago, I read an article that said if you work for a company, still run by the person who started the business, they value the employees as a valuable resource. But, the article claimed, once that business was sold by the founder, the next owner looks at employees like a drain on the bottom line. Think a lot of radio today.
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Depends if the new owner is invested in the people inside the radio station, the legacy of the the radio station and the community it is licensed to serve.
Once upon a time, all companies took pride in being a part of the communities they resided, not just radio stations.
It turns out to be one of those unintended consequences of consolidation. -DT
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Google abandoned the 70-20-10 rule years ago. And it was never really in effect, either…what was really happening was that Google expected people to spend 100% of their time on their normal jobs and then kick in another 20%, unpaid, for “innovation”. IOW, the 70-20-10 rule is a cheap way to screw your employees.
Aaron, your talking about something different than what I wrote about. 20% time is something I believe was innovated by 3M and is about employees being given 20% of their time to work on a project of their own making. Post It Notes came from this.
I’m talking about how a company budgets their money. Apples & Oranges. -DT
Always reheisfrng to hear a rational answer.
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