It’s no mystery that radio has evolved over the years with the help of new emerging technologies and the Internet – however the task at hand is to focus on radio in the future. Somewhere within all of our deliberations during the longevity of this course, we realized that radio was far from a dying medium. Radio being such a trusted and respected form of media reinforced our belief that radio will prevail and thus made our main mission to enable radio to thrive in the future.
Our focus was on how radio business owners can make money in the next ten to twenty years. On the final presentation we will present revenue streams, integrated into five chosen business models, which each possess their own scenario enabling each model to come alive.
Our models are based on the trends analysis that says that people will still be willing to pay for services, especially for the cheap ones, will indulge greatly into multitasking and their attention will decrease even more. From the technological side we will rely on voice control and navigation over devices. We think that greater degrees of convergence between different types of media are to be expected in the future like bringing social media to radio, bringing Internet to radio, and morphing broadcast and on-demand radio. Main assumptions about the most important economic trends would be the dominance of free business model and package services.