What Is The Future Of Radio?

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What Is The Future Of Radio?

It wasn’t that long ago we talked radio, more specifically why weren’t we hearing more house music on Aussie airwaves and it certainly stirred up some opinions and although the consensus was divided it ultimately kick-started the convo of radio and more importantly it’s future!

The history of radio dates back over 100 years with it’s core value being transmitting voice and sound with the only drastic improvements over time being mechanical advancements in transmitting louder, clearer and further while outpacing offline music formats including cassettes and CDs. The flip to this has been the incredibly interesting and evolving curation aspect which has been the real heartbeat and foundation of it all. Aside from that radio really hasn’t morphed or changed too dramatically in the sense of broadcasters and listeners and a real testament to it’s staying power and unique simplicity.

Just how big is radio in Australia?

According to independent researcher Roy Morgan on average 16.8 million Australians tune into the radio in any given week,  this equates to roughly 3 hours and 23 minutes per listener per day with 64.9% of all audio listening of any platform done via Australian radio (GFK, Australian Share of Audio Study). All in all, Australian radio remains a behemoth.

Fun fact: commercial radio only plays about 6% of Australian music and most of those plays occur from midnight to dawn.

As you’d expect Ollie Wards, Triple J’s content director who’ll be speaking at this years Electronic Music Conference is firmly in the corner of radio as he outlines just how much of an impact radio has in Australia and the J’s place in it all;

Radio has a massive impact in Australia, on both audiences and the music industry. Support of local music is also a key outcome from Australian radio, particularly with triple j’s national emphasis on Australian music, alongside Community Radio’s commitment to local content. Australian music does really well overseas too, relative to the size of the country, the success of which comes up through Australian radio. Plus the Australian market is seen as an opinion leader worldwide, with overseas acts often getting their first break in Australia, largely thanks to a strong Australian radio setting.

Another firm backer is FBi Music Director Amelia Jenner who is unwavering in her support of radio even as it finds itself in the sights of streaming giants such as Spotify and just why radio stands apart from other mediums;

In 2017, despite the rising focus on streaming services, radio still has an extremely important role to play in building the music careers of Australian artists. What do you think FBi Radio provides to music fans and artists that other mediums can’t? The one thing that FBi Radio and all radio in general offers is a human connection. We’re a little rough around the edges but we’re relatable as hell, which is one thing I think our audience really appreciates. I think it’s the fact that there is a real human behind the mic ranting about how much they love the next track they’re about to play, that really resonates with the people of Sydney. I guess it’s like a giant tick of approval for that song or that artist that which can only be a good thing for that musician’s career.

With that in mind it’s become fairly obvious that Australian radio’s staying power and relevance could be pin pointed to a handful of key factors;

  1. Human element/curation
  2. Introduction and continued support of Australian artists
  3. In-road for international artists to Australian audiences
  4. Industry relevance and support

What about streaming?

The entry of global streaming services backed by hefty resources and deep troves of data presents a very real risk of radio being swapped out by the convenience and psychology of it all (c’mon, what’s your guilty pleasure?). Add to this is the changing accessibility of radio ie binary relationship with driving and how we consume music in our day-to-day lives poses yet another undisputed risk to the traditional platform.

Figures released from the Australian Recording Industry Association (ARIA) show streaming services doubled their value from $23 million to $46 million while holding a comfortable 62% of the overall market last year so there isn’t a doubt streaming is here to stay.

While this seems like an unstoppable powerhouse streaming companies are yet to post a profit as they re-invest heavily but also juggle tricky licensing fees across the globe. It’s thought that these companies will never make profits unless labels lower licensing fees or users start paying more for the services.

Fair enough, but what does the future hold?

It’s hard to make any crucial predictions at such an interesting time such as this but in it’s current framework we can see radio as an unmatchable medium offering curation with song discovery and support but streaming making strong in-roads and eating up market share.

Wards see’s a possible evolution of the two forms into one;

There will always be a place for a linear stream of music content in the style of radio, perhaps the consumption method will move from FM to digital or streaming, however the need for music curation combined with personality driven and local news content will remain. Radio will continue to find its biggest audiences on FM into the medium term in Australia, while extending reach into other platforms like social media.  

The reality is though radio continues to be the stick in the mud, an almost unmovable force destined to survive forever but for now… the battle has only just begun!

As an artist, industry player or straight up music-love the future of radio could affect you, be sure to head along to ‘The Future Of Radio’ panel at this years Electronic Music Conference to hear radio professionals including Ollie Wards (Triple J), Amelia Jenner (FBi), Dan Aux (GeorgeFM) and more share their thoughts!

Electronic Music Conference 2017 visits Sydney’s Redfern for a two-day program seeing international music leaders and industry experts appear across an array of panels, talks, workshops, parties and masterclasses on November 29-30. Tickets are on sale now via electronicmusicconference.com

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