Hello and Happy Friday! Whether you're a long-time subscriber or just joining us, we're excited to have you as a part of our community. This week, we have some exciting updates and news to share with you, so let's dive in!

In this week’s edition:

• Radio GPT.

• Instagram vs Linktree.

• 190 ChatGPT Prompts Marketers Should Use.

The Future of Radio: Navigating the Threats and Opportunities of AI and Streaming

Since the emergence of streaming platforms like Spotify and Apple Music, traditional radio has struggled to keep up with changing consumer habits.

With the introduction of AI-powered tools like RadioGPT and Spotify's DJ, more questions are being raised about the long-term viability of traditional radio. This week we take a closer look at the latest developments.

The Threat to Traditional Radio

It's no secret that streaming platforms have been chipping away at traditional radio's audience for years.

Services like Spotify and Apple Music are offering personalised playlists and radio stations, making it easier for listeners to discover new music tailored to their tastes.

TikTok has also emerged as a powerful tool for record labels to launch new artists, and YouTube Music now allows users to create custom radio stations. All of these factors have been applying pressure to traditional radio listenership.

AI-powered Tools are Entering the Fray

Futuri, a US-based company, has developed RadioGPT, a product that uses GPT-4-powered bots to automate much of the work of manning a radio station.

The product is designed to "save radio, not compete with it" by filling hours that stations cannot staff, but concerns remain that it could lead to job losses in the industry. What does it sound like? Check it out for yourself here.

Spotify has also partnered with OpenAI to create DJ, a personalized AI guide that can choose what to play for listeners and back-announce songs. The DSP has promised “culturally relevant, accurate pieces of commentary".

Record Labels are Making Cuts

While airplay has traditionally been a reliable method for artists to gain exposure, some US record labels are rethinking their radio strategies. In fact, Universal Music Group, the largest record label in the US, has reportedly taken measures to cut back on radio campaign spending, according to multiple sources.

This shift in strategy comes as part of the music industry’s ever-evolving discussion about the best ways to invest marketing dollars and promote music.

Is Programming New Music the Key?

There are still success stories in traditional radio, especially in the non-commercial radio format in the US. Public radio stations KEXP in Seattle and KUTX in Austin have been growing their audiences, whilst sticking to a format that prioritizes new music.

KUTX has found success by focusing on promoting local and emerging artists. KEXP has expanded its reach through online content like the live performances it shares on its popular YouTube channel.

The Music Business Still Loves Radio

Despite the challenges facing traditional radio, record labels and artist managers still see huge value in prioritising radio campaigns - and for good reason.

Securing placement on major radio stations such as BBC Radio or triple j can be a game changer for new and emerging artists. The credibility that comes with being endorsed by respected radio outlets can open doors to festival opportunities, label and publishing deals, and more.

Radio airplay also continues to generate significant revenue for artists. For some, the royalties earned from radio play are a significant portion of their income.

What’s next?

It's clear that traditional radio continues to face challenges on many fronts. Streaming platforms have already eaten into their audience, and now AI-powered tools are entering the picture.

While it's true that AI could spell the end for some traditional radio station employees, there are still success stories out there. Perhaps the key to survival is adaptation.

By leveraging new technologies and building strong relationships with their communities, traditional radio stations may be able to stay relevant in an increasingly crowded media landscape.

^{Written by Nick Lynagh}

In Other Marketing News

Marketing Tools for Soundcloud Artists: SoundCloud has announced a new partnership with FeatureFM to provide independent artists with additional marketing resources for promoting their music.

FeatureFM will offer SoundCloud artists marketing, advertising, analytics, and CRM tools. Soundcloud members will benefit from new pricing plans and ad credits, while discounted pricing on FeatureFM will also be available for SoundCloud's Next members.

To access these offers and discounts, independent artists on SoundCloud can connect their SoundCloud account to FeatureFM.

Find the Mainstage with Snap: Snap is teaming up with Live Nation to add AR features to 16 new music festivals, including custom AR lenses and 3D maps to help attendees navigate to different stages.

They're also partnering with Norwegian DJ Kygo for customized AR experiences at his live shows, and plan to work with more artists in the future.

AR experiences at concerts are becoming more popular, with many festivals exploring virtual and augmented reality technology to enhance the live music experience.

190 ChatGPT Prompts Marketers Should Use: From "Simplify the following copy to make it easy for Grade 3 children to read" to “How do I determine which channel generates the most web traffic for my brand”.

Here are 190 prompts to try out in ChatGPT care of HubSpot.

ICYMI

Catch up on our recent stories:

• The Decline of Music Premieres: How We Got Here and What are the Alternatives?

• The Secret Sauce of JVKE's TikTok Success

• Funny Business: Marketing Artist's Humorous Sides

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Lead Writer - Olivia Gliku
Publisher - Nick Lynagh

Promoed is created and published by Habit Music Pty Ltd.

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^{We acknowledge the Turrbal people, the Traditional Owners of the land on which we stand, and pay our respects to Elders past, present and emerging.}