Private ownership is a big positive for the radio industry

The private ownership of most of the radio industry is a big positive which allows it to focus on its long term future, according to panellists at this morning’s MediaTel Group ‘Future of Radio’ seminar.

With several members of the panel having experience of working at PLCs, the general feeling was that concerns about the market make it very difficult for companies to coherently plan for their futures and concentrate on providing great radio content.

James Cridland, a radio futurologist and founder of Media UK, was very clear, saying “it matters who owns it”.

“Not being on the market gives you more of a chance to take a longer term view – not just protecting next quarter’s revenues but protecting the long term future of radio,” he said.

This was echoed by GMG Radio’s group commercial director Jonathan Gillespie, who said that private ownership and the freedom it brings is a big positive. “The ability to plan your business into a long term future is vital,” he said.

Mike Gordon, group commercial director at the privately owned Global Radio, added: “When you’re in a PLC the people choreographing where you go next are portfolio investors, they have no buy-in – when you’re in a private company everyone shares your passion.

“When investors are guiding you, you can’t make a long term strategy,” he said.

MediaTel Group’s Future of Radio seminar was sponsored by Ipsos MediaCT