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Why you should diversify your media portfolio

Why you should diversify your media portfolio

A recent New York Times story on the possibility that Disney may sell part of ESPN highlights the impact cord cutters are having on cable and satellite TV.

“A decade ago, more than 100 million households received ESPN, meaning 30 million fewer households get ESPN today than in 2013… By 2027, fewer than 50 million homes will pay for cable television, according to PwC, the accounting giant.”

What’s the takeaway for someone who wants to promote their business, book or brand? Should you ignore traditional broadcast TV since the number of viewers is declining? And what about other broadcast platforms?

NYU Stern School of Business Professor Scott Galloway is fond of saying that ad-supported broadcasting is “a melting ice cube.” But I would argue that it’s still the biggest ice cube in the media freezer. And your media outreach strategy needs to include traditional TV, radio and print – along with newer platforms.

Here are some examples of why you’re making a mistake by ignoring broadcast outreach:

A recent interview featuring my client immigration attorney Kate Lincoln-Goldfinch aired on 116 NBC affiliate TV stations. According to Critical Mention, Nielsen estimates more than 50 million viewers watched it. 

Any media outreach strategy also needs to include radio. According to Pew Research Center, “about eight-in-ten Americans ages 12 and older listen to terrestrial radio in a given week.”

I’ve booked eleven interviews this year with America at Night with Rich Valdés, a weeknight show heard on 300+ radio stations and averaging 4.75 million unique weekly listeners, according to Talkers. Someone (not a client) recently posted that she “saw close to a 4000% increase in my website traffic, spikes on LinkedIn, and book sales on Amazon!” after her interview.

Satellite radio may not have the reach of traditional broadcasting. But don’t discount the fact that 34 million listeners ARE PAYING to listen to more radio stations than they can get on their AM/FM dial. Those listeners are going out of their way to listen to your SiriusXM interview. The same can be said for podcast subscribers. It’s a great way to reach a niche audience.

Just as financial pros recommend diversifying your investments, anyone looking to increase their media profile needs to book interviews on multiple platforms.