The Economist on ‘ambitious commercial radio’

Siobhan Kenny, Chief Executive of Radiocentre, examines The Economist’s recent article on the rise of commercial radio in the wake of Chris Evans’ leaving the BBC

It’s not every day radio gets a glowing write-up in one of the world’s most influential magazines.

The Economist’s article last week documented the rise of the UK’s commercial radio sector, triggered by Chris Evans’ sudden planned departure to News UK’s Virgin radio. 

Those of us who work in radio don’t need to be told that commercial radio is booming – or roaring even. It’s helpful to have that recognised on a broader platform, with an impartial examination of the factors behind the success which has been building over some years.

The Economist sets the scene for record revenues in the past year: “In Britain, 90% of the population still listen to live radio every week. But it is commercial radio that has performed most strongly in recent years. Revenues from advertising plunged after the financial crisis of 2008, as did audience share. Both, however, have roared back.”

I don’t know the motivation behind the headline-grabbing departures from the BBC but I suspect it is not unconnected to the disclosure of talent pay and the attendant brouhaha in the media and in Parliament. If you had the opportunity, why would you not want to escape that, in exchange for ‘the pull of an increasingly ambitious commercial sector. Stations like Virgin and LBC are on a roll. Messrs Evans and Mair want to be part of that.”

Commercial radio, particularly when it comes to news and politics, is exceptionally well-equipped to give listeners what they want from coverage of the events that shape society. It’s no surprise therefore that a seasoned broadcaster like Eddie Mair, having started his career at the BBC in 1987, has now decided to move to an environment that allows him free speech.

As the Economist says: “LBC went national in 2014. It has been as successful at getting listeners outside the capital as inside. It has also pioneered a new kind of punchy political journalism. The station gives free rein to its highly opinionated DJs, of both the right and the left.

“Political balance, as required by the regulator, is achieved by venting the full range of views throughout the day. This makes for more exciting radio than the BBC’s pernickety insistence on balance in every programme.”

Likewise, Chris Evans has stated that his move back to Virgin radio – a station he owned in the late ‘90s – is in the spirit of ‘shaking things up’. The Economist observes: “he and Virgin should be well matched, for that is exactly what commercial radio is up to.”

In a world of great change, where we are all struggling to work out where truth lies, where social media allows news, fake or otherwise, to fly around the world in seconds, this approach to balanced broadcasting seems to be hitting the spot with listeners. Radio remains the most trusted medium, higher even than TV, according to our research.

We are not complacent, we know that there is still a big world of entertainment out there in hot competition for ears, eyes, fingers, brains. So we continue to push on finding new ways to hook in our listeners. Welcome home Chris, and looking forward to getting to know you, Eddie.