For Smyth, technology-driven change "is the real definition of our competitive landscape"

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Issue Date: 
Jun 11 2013 - 12:30pm

From Issue:

Greater Media chairman and CEO Peter Smyth has long been known as one of the more forward thinking group heads, embracing new media technology and looking beyond the traditional modes and methods of the radio business. Yesterday he answered some of his colleagues' reluctance to to make a real commitment to streaming.

Putting it in terms of the "short game" versus "long game," Smyth acknowleged that online streaming is not yet where it needs to be for broadcasters looking to shore up every cost and squeeze every penny of revenue out of their assets. But streaming's low revenue and technological imperfections are merely today's "growing pains" through which the industry will need to persevere.

Greater Media owns more than 20 stations total in the markets of Boston, Charlotte, Detroit, New Jersey, Philadelphia -- as well as several weekly newspapers in New Jersey.

Smyth insists his company's dedication to streaming, ad-insertion, and an expanding online presence isn't the easy road, but it's the right one: "There is a greater goal to be attained and that is to keep our local brands viable and relevant to rapidly changing audience habits," he wrote.

"We no longer have the luxury of regulated competition within a defined piece of real estate; we have to make every effort to entertain and deliver to advertisers as many highly targeted listeners as possible, wherever we can acquire them," he continued. "Platforms, geography, delivery, media-buying and media usage are all changing and we have to keep pace. This is the real definition of our competitive landscape."

Read Smyth's "From the Corner Office" column here.

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A huge thumbs up for Peter Smyth and Greater Media for stepping out with support for streaming. My experience leading several radio groups' digital revenue efforts syncs with his views...yes there are growing pains; however, if you look at streaming as more than just a radio re-broadcast & realize that it is a new daypart (our "at-Work-Daypart") and tailor a solid strategy to using it for advertisers you WILL make money. My teams sold millions in streaming over the past 12 years and we delivered profits every single year. Keep leading Peter!

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