#startuping… a new experience
Associate Professor Betty Tsakarestou and I, met approximately a year and a half ago, through a former student of hers. Our acquaintance was an opportunity for both sides to explore new paths towards our soon to become a fruitful cooperation, which also led to an ongoing collaboration & a signed memorandum between Panteion University (dept. of Communication, Media & Culture —Ad & Pr Lab) and Antenna Music Group.
From the very beginning of our team work, Betty introduced me to the “startup” idea, for which I previously had only basic knowledge. The proposal to merge both our worlds in order to mentor, as well as invite young entrepreneurs to build audio and radio innovative prototypes, was very intriguing.
Techstars, a global network that helps entrepreneurs succeed, through “Stratupweekend” -a program in partnership with Google for Startups- made it all come together. Being part of such an organisation, among experienced team members as Betty Tsakarestou and Dr. Stavros Kaperonis, was a great honour as well as an amazing challenge for me. Thus, I grabbed the opportunity expecting to lead Antenna Music culture into new, so far unexplored paths.
Why did I join the community of Techstars and the organizing team of “SWA Audio & Radio Innovation — Entrepreneurial Journalism”? In order to thrive in a digital and immersive tech world, we need to think differently. This partnership was a great opportunity into the exploration of innovative, sustainable ideas around my field of work. Getting close to the next generation in order to comprehend their thinking, will eventually be used to create engagement from their part. In order to attract our audience we need first to cultivate our community. Last but not least, changing the culture within Antenna Music Group, will lead to the digitalisation of radios and music labels owned by the group, and this collaboration was the start of an era.
What where the greatest challenges? Introducing a traditional media, such as radio, to late millennials and Gen Zs’ was a challenge on its own. Even though the specific target group has in depth knowledge of its existence, they are not actual users of this specific media. They perceive the medium as is today, both traditional and digital at the same time, but their task within the startup community was to challenge this traditional norm and make it part of the global audio industry.
Engaging partners, sponsors, media and all major radio stations in Athens -digital and terrestrial- mostly competitors of the brands owned by Antenna Music Group, while working closely for the future of the industry, was the second challenge I had to work with. Culture is in need of a greater change for the whole industry, and I am confident that we, as trendsetters and major players, will take advantage of this opportunity and go even further.
In order to familiarize our audience with the challenge given to them, all attending members were invited to the “1st Audio and Radio Innovation Summit” that took place in Athens just before the launch of the SW. Members of our community, radio producers, podcasters, students and entrepreneurs were introduced to global audio trends, digital and technical innovations as well as audio consumption alternatives.
Simone Demela, CEO of ARMnet, focused on presenting the ongoing growth of the music streaming industry that contributes to new music consumption habits as well as new business and revenue models for the artists, record labels and all others involved. He concluded by mentioning the upcoming voice-first world in which devices such as Amazon Alexa drastically change the way people interact with “machines” while establishing new ways of discovering music.
Daniel Klinger, Technical Manager of A.K.G Holding, discussed technology advancements in content creation & distribution. Content is the king many say and while there is no doubt for that, there is always room for improvement. New technologies and innovations are changing the content itself and its distribution.
Anna Ormaechea, Founder of Cuonda Podcast Platform, analysed the ongoing growth of podcast awareness and consumption in the United States versus the respective penetrationin markets such as Spain and other non-English speaking countries. Anna, during her talk, highlighted how hard it is for brands and advertisers to invest in this type of content.
Jeremy Caplan, Director of Education at Tow-Knight Centre for Entrepreneurial Journalism in N.Y., reviewed the great amount of innovation happening in the audio industry while taking advantage of technological advancements such as A.I. by applying them to new services for consumption. He then focused on one of the fastest growing mediums, podcasting, where more brands and listeners connect with daily.
Finally, the “Golden Circle” of Audio & Radio Innovation was presented by Eric Hansen, CEO of Antenna Music Group Globally, where he highlighted the importance of powerful, strategic management and leadership that can successfully guide companies towards establishing new business models that serve a strong “why”. Ultimately, Eric concluded by discussing content being much more than just king, and more like an empire, since high quality original content creation, is a main investment of all major media groups. Content is what effectively connects brands with the targeting audience while audio has long been a content format that delivers true emotional engagement.
Innovation: introducing new ideas, featuring new methods… The radio industry is part of the audio business industry. Alexa, Siri, Spotify, Apple Music, Deezer, Podcast and so many other players are now dominant in this filed globally, supported by populations across all continents. Radio — as a media — has to establish its positioning in between them… even if it is the oldest one. We need to define what makes this media unique and use this magic power in an innovative way. Carefully curated music based on the preference of the desired target group, unique talents producing daily live shows, one of a kind promotions… all packaged beautifully and ready to be served through all available platforms. But is that enough?
How can an idea become a startup… and how can a startup become a unicorn? It is all about the team! Startup weekend, confirmed once again what we, in the business world, confront daily… the team and the trust within, makes all the difference!
Being part of the process while creating this amazing experience both for the attending entrepreneurs as well as the mentors and the judges, was on its own a confrontation among business ideas that aim to grow beyond the startup teams, and just… ideas. Working with volunteers coming from different backgrounds, age groups and work experiences, made literally the whole project take off!
Catch up with the full journey of SWEJ Audio & Radio Innovation from day 1 at our official Facebook page.
