WK 4 ECO561 Business Proposal
Radio Broadcasting Business Proposal
ECO/561
October 6, 2014
Laurie Klosk-GazzaleRadio Broadcasting Business Proposal
Radio has seen vast changes in the past few years and currently is on the cusp of a defining moment in history. Gone are the days when radio was limited to being received only on an AM or FM frequency band, and more importantly, strictly on a radio. Less than a hundred years after it first began broadcasting, technology now provides listeners greater choices of how they would like to receive their music or news. Listeners can still listen to radio via AM or FM dials, but now also on their smart phones, through their computers, game consoles, televisions and even through Google Glass. The choices of what to listen to have grown as well, and listeners are no longer limited to local stations. Technology has enable people to listen to stations from around the world, and even design their own stations with music they like the best.
Market Analysis Summary
This proposal will consider the cost effectiveness and feasibility of changing the format of an existing and underused station, WKBL AM 1250 located in Covington, TN, from classic country to classic rock and oldies.
Mass Media Choices
The Memphis designated market area (DMA) mass media, comprises of various major segments including press, TV broadcasting and radio broadcasting, all which rank consistently in the top 100 in the country.
The Memphis market ranks 51 in the country with nine television broadcasting stations, and includes the top three networks, PBS and FOX. In radio broadcasting, there are a total of 37 stations, and in the press segment, there are four newspapers and three magazines, which are dominated by the Scripps’ The Commercial Appeal. Several local communities have smaller community papers with limited reach.
There are 22 FM and 15 AM stations covering the West Tennessee area. Memphis listeners can choose from a selection of programming which includes, classical,
ECO/561
October 6, 2014
Laurie Klosk-GazzaleRadio Broadcasting Business Proposal
Radio has seen vast changes in the past few years and currently is on the cusp of a defining moment in history. Gone are the days when radio was limited to being received only on an AM or FM frequency band, and more importantly, strictly on a radio. Less than a hundred years after it first began broadcasting, technology now provides listeners greater choices of how they would like to receive their music or news. Listeners can still listen to radio via AM or FM dials, but now also on their smart phones, through their computers, game consoles, televisions and even through Google Glass. The choices of what to listen to have grown as well, and listeners are no longer limited to local stations. Technology has enable people to listen to stations from around the world, and even design their own stations with music they like the best.
Market Analysis Summary
This proposal will consider the cost effectiveness and feasibility of changing the format of an existing and underused station, WKBL AM 1250 located in Covington, TN, from classic country to classic rock and oldies.
Mass Media Choices
The Memphis designated market area (DMA) mass media, comprises of various major segments including press, TV broadcasting and radio broadcasting, all which rank consistently in the top 100 in the country.
The Memphis market ranks 51 in the country with nine television broadcasting stations, and includes the top three networks, PBS and FOX. In radio broadcasting, there are a total of 37 stations, and in the press segment, there are four newspapers and three magazines, which are dominated by the Scripps’ The Commercial Appeal. Several local communities have smaller community papers with limited reach.
There are 22 FM and 15 AM stations covering the West Tennessee area. Memphis listeners can choose from a selection of programming which includes, classical,
References: Lunden, I. 2014. Nielsen: Internet display advertising grew 32% in 2013, but it’s still only 4.5% of spend vs. TV at 57.6% Retrieved from http://techcrunch.com/2014/01/27/nielsen-internet-advertising-grew-32-in-2013-but-its-still-only-4-5-of-spend-vs-tv-at-57-6/ Nielsen local television market universe estimates. 2012. Retrieved from http://www.nielsen.com/content/dam/corporate/us/en/public%20factsheets/tv/2012-2013%20DMA%20Ranks.pdf Radio broadcasting and programming. 2014. Hoover - First Research. Retrieved from http://mergent.firstresearch-learn.com.ezproxy.apollolibrary.com/industry.aspx?chapter=0&pid=335 U.S. Census Bureau: state and county QuickFacts. 2014. Retrieved from http://quickfacts.census.gov/qfd/states/47/47167.html