Universal Music Group, one of the world’s largest music companies, has reduced its radio expenses as the influence of traditional radio formats wanes.
The company’s efforts to cut back on radio expenses come as more consumers turn to streaming platforms for their music needs. In the past, radio airplay was a key factor in driving music sales, but as streaming services have become more popular, their importance has diminished. As a result, Universal Music Group has shifted its focus towards promoting its artists on streaming platforms and social media instead of relying on traditional radio airplay.
By reducing its radio expenses and focusing on promoting its artists on streaming platforms and social media, Universal Music Group is positioning itself to take advantage of these new channels. This approach allows the company to reach a wider audience and build deeper connections with its fans, which can ultimately lead to increased potential music sales and revenue.
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