Wednesday, November 7, 2007

Radio-One Profits Fall 40%

In an article released by the Washington Business Journal, Cathy Hughes, owner of the Radio One empire of 50+ radio stations may have already seen its best days.

The cause? An ever increasingly competitive listening audience may just not be tuning that dial to radio anymore, or as they put it "a challenging radio industry environment." I for one haven't listened to the radio in years. Between the music hard drive I have in my car to streaming music from Pandora or Musicovery to my laptop and bluetoothing it to the car, radio may just be a medium of the past.

Who cares!

Well, Cathy Hughes already signed a lease for Broadcast Center One at 7th & S Sts NW, that half-acre former Wonder Bread factory thats about to break ground next year. With profits down nearly 40% in one quarter, who knows what the future may hold for the lease-holder of Douglas Jemals property.

1 comment:

Stu said...

Rent "Talk TO Me" to learn about how Radio One got started as WOL 1450 in DC by Dewey Hughes. He hired Petey Greene, an ex-con, to be a DJ. Petey was credited with helping calm the city after the 1968 riots that followed the assassination of Martin Luther King, Jr. It is a really terrific movie. Don Cheadle stars as Petey Greene.

Will Radio One survive? I think the future of the music industry is on-line with internet radio over wireless netwarks. Pandora is a terrific example of what is possible. Jesse... you get Pandora in your car? You are way cool.