These are not easy times.
Bad things generally happen when car dealers can’t afford to buy radio advertising.
Entercom announced a round of layoffs on the same day XM/Sirius dropped 50 to 80 people mostly in Washington.
CBS made significant cuts in the staffs of their Los Angeles news stations.
We can be pretty certain more layoffs are coming.
People who are unemployed tell me there are few jobs and those available are paying very little.
It is quite a shock for a major market PD to learn the only jobs available are in smaller markets and offering $100,000 less than they’re used to making in salary.
This sort of thing has happened in the past. It is exaggerated this time by the changes in technology which were already eliminating many positions.
Now is the time to get creative.
There is opportunity but you have to look in new places to find it.
As stations tighten their belts think about ways you can serve their new needs. Perhaps it is as a freelancer working from home.
A few ideas to get your thinking started.
- A news person could create a business that offers morning drive news to several stations. And remember good news people are hard to find today.
- An efficient jock can voice track many stations. This is another home based business.
- Manage content for several station websites. The web becomes a new stream of income but they might not have cash to keep a webmaster on staff.
- Produce commercials at home for a variety of stations. Charge by the spot or on a retainer basis. Great production is a good way for sales to sell but great production is hard to find in a smaller market.
- Develop promotions and sales promotions that will help generate income.
You get the idea.
Think about what you do well and what stations will need and pay for.
Then get creative with the pricing.
There are 10,000 stations out there and they all need something to build revenue or reduce costs.
People can prosper even in a bad economy.
More than one millionaire has been made in down times.