In addition, it was recently reported that terrestrial radio is having its worst year… in decades.
Yes – we’re in a recession of sorts, but terrestrial radio is definitely feeling the pinch, too – not just Satellite.
Meanwhile, internet entertainment and business models are booming. Indie Rockers “The Sick Puppies” recently made an appearance in Youtube Live, which was seen by millions, and their successful Free Hugs Campaign has become an internet meme. In addition, Metallica and many indie musicians have recently been using New Media in order to grow their brand and tap into the movement.
In addition, we recently we learned how Satellite Radio and XM have a serious customer complaint about their merger. And all of this is happening at a time of financial crisis. So now as more independent music and release their own content, use Creative Commons, and go to the internet for information and services, things like terrestrial radio and Satellite are being taken over by RSS Feeds and Internet Podcasts/Streams. Things like Pandora are using widgets and new media in order to grow, as their seeing. Whereas others who are not in the internet scene are seeing decline. The demographic and formats are changing, which explains radio’s decline – even with the radio merger of other businesses.