… Besides advertising, radio is trying to adopt new business models, getting involved in sharing economy, which isn’t yet, usual but will represent a new way to relate brands, radio stations and listeners. In other words, it will be the future way of producing economic value, through the sharing economy, as Benkler (2006) pointed out, about the info age market structure, based on peer production.
As old listeners are too, becoming e-listeners, radio also have new competitors, represented not only by devices, but also content, tools and platforms. Mostly, by brands that have enabled to replace the object by the brand name. Competitors include online news, online content and, most of all, free content; digital TV and digital radio; social media, as well as Spotify, Pandora, Last FM and many other forms of online music listening brands; devices that enable us to choose and manage content, like iPods (or any MP3 player), iPhones (or any smart phone) and iPads (understood as tablets) in relation to social network sites such as Facebook and Twitter, other examples of notorious brands that represent this changing media paradigm.
Radio is in need of new wavelengths to find a proper definition and improve business model….