Radios are becoming outdated, but there are still ways to keep revenue coming in.
Public radio stations are free for listeners and only make money with advertising revenue and fundraising events. However, with more cars equipped with MP3 player hookups and with satellite radio gaining popularity, public radio stations have to rely more on fundraising than on advertisers. With creative and entertaining fundraising activities, though, public radio stations need not worry. Listeners will stay tuned when there are events or prizes worthwhile ahead.
Membership Plans
Although public radio stations are free for anyone to listen to, you can still set up a "membership plan" for listeners who want to receive insider information on local concerts or free items, like key chains and T-shirts. Simply promote the membership on the radio and on the radio station's website and have listeners sign up with a donation. Have different memberships available. For example, for a donation of $25 annually, listeners could receive a T-shirt and an entry into a raffle to get a chance for a DJ to interview them on the morning show. For a donation of $200, listeners will get a T-shirt, an entry to the raffle and advanced access to tickets for concerts throughout the year. This will entice regular listeners to join, not only to support the station but to also get something else in return.
Adopt-a-DJ
Radio morning shows are often referred to as "morning zoos," so you should treat the morning deejays like zoo animals and have them available for adoption, much like city zoos have animals available for adoption. This doesn't actually mean that someone will adopt the deejay, but listeners will simply give money in support of the deejay. An example would be to have a $25 adoption fee, which would include a certificate of adoption and a photo information card with information about your "zoo" animal deejay.
Promotional Concert
Many radio stations, such as Los Angeles-based KROQ (106.7) and Houston-based BUZZ (94.5), host a variety of concert events throughout the year. KROQ, for example, hosts the KROQ Weenie Roast in the summer and the KROQ Almost Acoustic Christmas. The station promotes these events on air and online to generate excitement from listeners. These concerts work similarly to benefit concerts, only the concerts are benefiting the radio stations and not a major charity. These types of events are usually more festivals than regular concerts, meaning there are multiple bands performing and often, multiple stages throughout an area so that guests can see many different bands for one low price. While the radio station might not promote the event as a "fundraising event," the concerts definitely generate income for the radio station.
Party or Club Event
Most radio stations aim at a specific demographic. Alternative rock stations, for example, aim toward teens and young adults. Classic rock stations, however, aim toward middle-aged adults who are mostly male. The radio station can host an event or party to fit the demographic. A giant singles party hosted by a radio station at a local club would generate funds for an alternative rock or pop radio station. A "backyard barbecue" party may appeal to a country radio station's audience. Think of a type of party or club event that your radio station demographic would most likely be interested in, and host it. Tickets don't have to be expensive because patrons will likely spend money on drinks and food, which will help generate more revenue.
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