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The radio industry is dependent on the talent of the presenters. Essentially, talent is what it takes the radio and TV stations to hire particular…
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“Summary” This article gives focus on the radio industry and the nature of competition that is posed by the emerging radio stations. The radio industry is dependent on the talent of the presenters. Essentially, talent is what it takes the radio and TV stations to hire particular individuals. In this article a vivid example of how talent influences the market niche of SiriusXM. Presenter Howard Stern uses his extraordinary talent to influence large audience, which makes the corporation more profitable compared to its competitors in the same industry. Stern argues that, there is need for him to be paid more since his talent has made the SiriusXM radio to increase its revenues to $1.4billion pre-tax income (Gillette, 1).
Howard Stern’s talent of moving the audience, led to the growth of the audience listening to the SiriusXM up to 27.3 million in 2014. This kind of talent led to the assimilation of the XM Satellite. This is an indication of rivalry in this industry, where talent is the driving force of the economy. The managers of various satellite radios stations are compelled to pay more to attain a super class of talent like that of Stern. This brings us to the state of things as they may exits when Howard Stern exists. Stern’s staggering relationship with the management of the SiriusXM puts his career in a balance in this corporation and this leaves a vacuum if Stern decides to quit (Gillette, 1). In essence, the article asserts that talent is the single most element that is driving the world and this explicitly indicates that there would be no SiriusXM without Stern.
The ever-increasing consumer base attributed to the SiriusXM immensely attributed to the commonly integrated audio service, which Sirius XM has capitalised and ensured that it is done in cars, Smartphone and computers. This aspect of product differentiation has made this corporation to stand out among other numerous competing companies. For instance, the Silicon Valley and Apple’s entry into the market indicates the nature of the stiff competition that is created and this needs superior marketing and talent to thrive well in the modern competitive market milieu (Gillette, 1). The directors of Sirius XM feel the heat of the competition in the Radio industry and this compels them to state that they would pay Stern any amount of money as long as he ready to work. This is an indication that solely talent drives the radio industry and it should be well paid for the corporations to make profits. In essence, Stern’s exit will see the SiriusXM loose talent, market niche and consequent loss of revenues and this may end up to either poor performance or closure of the radio station. This article illustrates that the audience will be able to pay for the radio content as along as it is easy to configure and enticing.
Stern is a strong figure in the radio industry and the new corporations can hire him at high rates to have his talent in their radio stations, however, most of these stations such as Pandora cannot afford the rates. The need to have Stern in new and developing stations is attributed to the power of talent.
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Felix Gillette. Can SirirusXM Survive Without Howard Stern? 2015. Print Read More
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