Prediction
Raising the alarm bell for public media
Name
Kerri Hoffman
Excerpt
“It’s critical to acknowledge that local public radio stations bear considerable risk in the current podcast environment.”
Prediction ID
4b6572726920-24
 

In 2024, it will be essential for public media to put its best foot forward to secure a future of continued growth and relevance.

It may be tempting to think of broadcast radio and the digital on-demand form of podcasting as sister audio products, but digital audio is more like the decades-old Internet. More than 20 years ago, almost half of the U.S. accessed information through the Internet. And between 2014 and today, there’s been a 20-fold increase in the number of available podcasts. The digital convergence — that sweet spot where access meets the power of choice — has happened in audio. While terrestrial public radio will continue as a significant medium, the gravitational pull toward digital is undeniable. According to Edison Research, the touchpoint has arrived:

The greatest risk facing public radio lies in the peril of inaction.  Prominent organizations like the BBC and the Australian Broadcasting Corporation have indicated strategic shifts away from traditional broadcasting. In the United States, if we gauge success in the digital realm solely against public radio’s longstanding business model, we may overlook the full potential of the future. Failure to transform public radio into a more digitally robust form, such as podcasts, could result in unexplored revenue opportunities, suboptimal network effects, redundant services, audience fragmentation, and a missed connection with younger audiences and inclusive opportunities.

It’s critical to acknowledge that local public radio stations bear considerable risk in the current podcast environment. Best intentions around production, content, and talent on all sides of the microphone can fail if areas of distribution, monetization, engagement, centralized data management, and privacy protections are not aligned. Our collective future will be fortified with improved digital infrastructure.

The future of public radio and media is more diverse in audience, talent, content, and platform than it is today. Public radio remains a vital news source crucial to a vibrant democracy, both nationally and within local communities, while also providing enriching entertainment that significantly impacts listeners worldwide. Through strategic adaptation to the impending digital landscape, we can guarantee the continuous expansion of public media’s reach well into the future.

Kerri Hoffman is CEO of PRX.

In 2024, it will be essential for public media to put its best foot forward to secure a future of continued growth and relevance.

It may be tempting to think of broadcast radio and the digital on-demand form of podcasting as sister audio products, but digital audio is more like the decades-old Internet. More than 20 years ago, almost half of the U.S. accessed information through the Internet. And between 2014 and today, there’s been a 20-fold increase in the number of available podcasts. The digital convergence — that sweet spot where access meets the power of choice — has happened in audio. While terrestrial public radio will continue as a significant medium, the gravitational pull toward digital is undeniable. According to Edison Research, the touchpoint has arrived:

The greatest risk facing public radio lies in the peril of inaction.  Prominent organizations like the BBC and the Australian Broadcasting Corporation have indicated strategic shifts away from traditional broadcasting. In the United States, if we gauge success in the digital realm solely against public radio’s longstanding business model, we may overlook the full potential of the future. Failure to transform public radio into a more digitally robust form, such as podcasts, could result in unexplored revenue opportunities, suboptimal network effects, redundant services, audience fragmentation, and a missed connection with younger audiences and inclusive opportunities.

It’s critical to acknowledge that local public radio stations bear considerable risk in the current podcast environment. Best intentions around production, content, and talent on all sides of the microphone can fail if areas of distribution, monetization, engagement, centralized data management, and privacy protections are not aligned. Our collective future will be fortified with improved digital infrastructure.

The future of public radio and media is more diverse in audience, talent, content, and platform than it is today. Public radio remains a vital news source crucial to a vibrant democracy, both nationally and within local communities, while also providing enriching entertainment that significantly impacts listeners worldwide. Through strategic adaptation to the impending digital landscape, we can guarantee the continuous expansion of public media’s reach well into the future.

Kerri Hoffman is CEO of PRX.