MYTH - The radio industry is too consolidated: Radio is the least consolidated and most competitive segment of the media industry. Clear Channel owns just 9% of the nation’s radio stations, and accounts for less than 20% of industry revenue
When you look at the facts, other industries are far more consolidated. Radio does not even meet the US government's standard for a "highly consolidated industry".
MYTH - Radio is the most consolidated business: Here are the percentages of the market the top companies have in each of the following industries. Radio is actually the LEAST consolidated: Record Companies - 84%, Wireless - 87%, Autos - 87%, Airlines - 91%,
Drug - 68%, Cable Systems - 89%, Newspapers - 48%, Theme Parks - 93%, TV Stations - 55%, Movie Studios - 99%, Radio - 44%
MYTH - Big is Bad: Deregulation brought a dying industry back to life by permitting economies of scale and scope - now the Radio industry is operating successfully. Just 10 years ago nearly 60% of the nation’s radio stations were operating in the red, cutting back news, and laying off employees - now the industry is operating successfully. Today the industry is healthier and more robust than ever benefiting consumers, listeners, customers and our communities.
MYTH- Deregulation caused a decline in radio’s commitment to localism : Radio is inherently a local medium that must satisfy each and every community it serves. Over 90% of Clear Channel Radio programming is originated locally, with local personalities who are focused on programming to their communities. U.S. radio stations contributed nearly $7 billion in community service last year alone - the community service is done in local markets - in the markets where we live and work.
MYTH - Clear Channel produces homogenized play lists : Clear Channel does intensive research each year to learn what listeners want: 1)Clear Channel places over 2 million research calls each year 2)10,000 local research reports annually 3)Tests thousands of song titles and 4)Measures desires of hundreds of thousands of radio listeners
MYTH - Music formats are decreasing: Since 1996 the variety of radio formats has actually increased by more than 7%, providing listeners with more choices, not less.
MYTH - Clear Channel is centrally controlled: Clear Channel is operated on a highly decentralized business model.
Only 15 employees of CC Radio are located in San Antonio Corporate Headquarters, that group could never run CC Radio and make all the decisions.
MYTH - Consolidation has been bad for radio employees: Although jobs have been lost over the past few years, there are more opportunities for personal growth, station facilities are offering more improved, modernized facilities, better training and improved financial opportunities for employees.
