Google : we’re exiting the broadcast radio business
February 12, 2009
Take heed Advertising Agencies - Google doesn’t want to “waste” their time with Radio either. “While we’ve devoted substantial resources to developing these products and learned a lot along the way, we haven’t had the impact we hoped for,” Google vice president of product management Susan Wojcicki wrote in a post. “So, we have decided to exit the broadcast radio business and focus our efforts in online streaming audio.” Google plans to sell its Radio Automation business, and terminate its Adsense for Audio and Audio Ads services on May 31. In the process Google plans to fire 40 people and send them to the unemployment line. In other words, Google thinks that Radio is as dead as print and TV.
These 40 people will be entering a near great depression level economy and the chances are they will have a difficult time finding a new job.
It’s our guess that Google feels the recession is speeding up the collapse of traditional advertising dollars in favor of online content. Streaming audio, video, blogging, etc etc…
It’s ugly out there people, really ugly.
We were all .com millionaires, then we became real estate tycoons, looking for the next bubble.
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