BIA/Kelsey Digital Strategies for Broadcasting

BIA: Broadcasters Should Balance New Media

BIA/Kelsey’s Rick Ducey says that while its vital that broadcasters to embrace change by incorporating new media content and advertising opportunities in their operations, they don't want to "walk away from a nice revenue stream.”
By
NetNewsCheck.com,

Even as revenues wane, it’s important that broadcasters stay true to their original media while pursuing new media options as well.

That, at least, is the tenet touted Monday by Rick Ducey, BIA/Kelsey’s chief strategy officer, at BIA/Kelsey’s Digital Strategies for Broadcasting conference in Jersey City, N.J.

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“You don’t want to walk away from a nice revenue stream” even if margins and revenue forecasts are shrinking, he said.

At the same time, however, it’s incumbent upon broadcasters to embrace change -- which includes nurturing their traditional products and brands -- by incorporating new media content and advertising opportunities in their operations, he said. And that is not necessarily easy, psychologically and organizationally.

“Change and change management is a very big undertaking that you have to stay committed to. If you don’t have buy in, change won’t happen.”

The changes currently underway in media are similar to past changes in that it they are audience driven, prompting broadcasters to respond first and then convince advertisers to do the same, he said.

The key change that broadcasters currently are facing is how to incorporate the varied media platforms consumers use as means to reach larger audiences.

“The audience has sort of figured out how to embody all these possibilities in their daily lives,” Ducey said. “We are probably more in a stage of figuring out how we creative advertising strategies across these platforms.”

Doing so, however, can be tough, since the process starts with acknowledging that the old broadcasting business is gone forever, and getting executives and staff companywide to agree.

Hiring individuals with digital expertise also is key, as is building a road map to lure both advertisers and audiences.

“There are a lot of opportunities for success, though probably a lot more opportunity for failure,” Ducey said. “But you got to keep in the game and keep trying.”

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