Quality Content is King!
It’s all about the product! And CEO of the Seven Network Tim Worner knows it. When releasing the networks annual results recently he made a couple of statements. Firstly that Seven will be the TV ratings market leader until 2020. A big statement, but on Sevens recent performance could easily be the case.
Clearly Tim is an executive who understands the importance of content in a product driven business, in this case television.
Mr Worner made the following statement “It comes back to content in the end. There’s that saying, ‘Content is king’. I’m not quite sure about that, whether content is king. I think quality content is king. And that’s what we’re setting out to do: is to have quality content that people really want to watch. Then they’ll watch it anywhere. And if [it’s] good quality, we’ll be able to monetize it as well.”
Quality content is what drives the radio, television, gaming, movie, newspaper, magazines, online and other entertainment businesses.
This has been witnessed lately in radio with the ratings impact after the switch from SCA to ARN by Kyle & Jackie O.
Also its evident with the market impact of the recent re signing of Hamish & Andy and the announcement of Hughesy and Kate for national drive. Other examples include Eddie & Mick Molloys breakfast show, Meshell & Tommy, FiFi & Dave, Nathan Nat & Shaun, Amanda & Jonesy, Robyn Terry & Bob, Marty Tim & Kate – quality and some of them expensive talent driven shows that generate strong ratings and therefore significant revenue opportunities. Quality content, product that has taken time to be crafted and perfected.
To survive and thrive radio needs to continue to develop and (pay for) quality content. It’s radio’s key differentiation from other (music) platforms.
And in Australia, radio has some of the highest quality radio product offerings in the world.
Radio, especially metro radio is not in the music format business anymore, it’s in the talent and entertainment business. It’s a product business!
That’s its key for survival. And Sevens CEO Tim Worner knows that’s true for television, the quality of the content is what will determine his networks success or failure.
Development of quality talent and shows is paramount for Radio’s continues success and relevance in the future.
As former Apple boss Steve Jobs once said “There’s a tremendous amount of craftsmanship in between a great idea and a great product. And as you evolve that great idea, it changes and grows.
Designing a product is keeping five thousand things in your brain and fitting them all together in new and different ways to get what you want. Every day you discover something new that is a new problem or a new opportunity to fit these things together a little differently. And it’s that process that is the magic.”
Brad March is a Director of Radio Today, is a former CEO of Austereo and has been named Media Executive of the Year. He’s Director of Marchmedia and Pacific Retail Management.