David Landau, Dial-Global Co-President/CEO
(from March's RBR/TVBR Solutions Magazine)
This March commemorates David's thirty years in the radio ad sales business. His reputation now stands as one of the key deal-makers in the network radio marketplace, and his success in creating shareholder value for his partners and shareholders has earned him a solid position in the industry. Among his larger titles leading to Dial-Global, David was the original partner of Multiverse Network, which launched the Dr. Laura program; and the President of Unistar Radio Networks.
Since David and his partners, Ken Williams and Spencer Brown, launched Dial Communications-Global Media out of the Winstar ashes in 2001, the business has grown to include representation for Talk Radio Network, Rick Dees, Jefferson-Pilot, Sporting News Radio, Multi-Net Networks, Fox News, John Tesh, and it enjoys working relationships with all the major radio groups. Dial-Global has also developed number one-rated RADAR networks via prime, targeted inventory. Here, David discusses his views on the rep business, radio's place in the advertising arena, and what's in store for the future.
You've been adding RADAR networks almost quarterly. Tell us about the philosophy there.
My partners, Ken Williams and Spencer Brown, and I make it a practice to stay close to our clients. When we merged Dial-Global, the key piece of information that we got back from our clients was that they really wanted more RADAR inventory. We listened very intently and we came back and made the investments in RADAR. Arbitron has been very supportive of us and has been a very good partner in helping us launch our RADAR networks.
Last year Dial-Global and Excelsior were acquired by Lincolnshire Management. What have they brought to the table?
We feel that there is a lot of opportunity in this market for growth - - either organically by producing our own shows, or by acquisitions or contacts that recognize our reputation and bring us content and talent. We needed to have the financial wherewithal to do that. Lincolnshire was very excited about the opportunity to grow in the network radio marketplace because, like us, they believe that content is very important.
Give us a bit of your career history.
A lot of talented people had the good fortune of meeting Bob Duffy. Bob began his career in the NBA and was recruited at Eastman Radio. Then Cox Radio, which owned Christal Radio, recruited him to become President/CEO of Christal. That's where I started, and even today I still bleed the rep. I also worked in the early 80's with [CBS Radio CEO] Joel Hollander and [Citadel COO] Judy Ellis.
Mel had hired all three of us to work at WKTU-FM New York. It was pre-Howard. Paco and Roscoe were the big on-air talents. It was a very exciting time to be at Infinity.
I was then a partner for ten years at Unistar. After that, Ken Williams and I launched Multiverse Networks in December 1994 and we were partnered with Dr. Laura. It was kind of chaotic - - we had missed the upfront, the agencies were completely shut down for Christmas vacation, and I had received my eighth jury duty notice.
There's a story out there that Joel and you unloaded trucks full of sweaters from an advertiser to collect a receivable. Is that true?
Yes. That was a very valuable lesson: collections are just as important, with a lot less glory, than writing the order.
You've worked with some legends in the business - - Mel Karmizan, Dick Clark, Randy Michaels and Dr. Laura. Do you see any common attributes?
First and foremost, they are all incredibly hard-working. But the thing that separates those individuals is that they are fearless, in terms of taking calculated risks.
How do you form valuable relationships in the marketplace?
The managing partners within Dial Global - - Ken Williams, Spencer Brown, and I - - are hands on, everyday. We work with our talent/ networks day in and day out in terms of making sure that they're getting what they need to make their products better and their jobs easier. We also work very closely with the ad marketing community. I'm still directly involved with Eileen Decker, our EVP/Ad Sales, on the street making sales calls.
Tell us about your management philosophy.
When Kenny and I started our first company we had a corporate ethos - - to create an environment in which people could be successful and self-motivated by being treated with dignity and respect. We think that we have succeeded in that. You call our company up at seven o'clock in the morning, and there are people here. There are people working here on the weekend. Everyone individually knows what he or she has to do, and they don't need to be controlled by a time clock or management. It's a very self-motivated group of people that understands what needs to get done.
We also recognize our account executives as talent. You need special salespeople who can monetize the sounds coming from the speakers. We provide them with the resources, recognition and compensation to get the job done.
Ultimately, Dial-Global and Excelsior, because of our rep partnerships, are responsible for thousands of jobs and livelihoods. We take that fiduciary responsibility very seriously. That's how we go about the practice of our business. My personal ambition is for Dial-Global/Excelsior to make the "Fortune 100 Best Companies to Work For" list.
What other strides have you made in increasing research, ROI and accountability for your clients?
Dial-Global is committed to providing our clients with the best available research and systems to help increase their understanding and evaluation of Dial-Global properties. Over the past year, we have signed contracts with MRI for qualitative research and Verance to monitor station compliance, and we have continued the roll out of online systems for distribution and affidavit collection.
We feel that one of the most important issues for radio remains providing the client the ability to evaluate schedules in a timelier manner. We are exploring initiatives which will help make this possible, such as electronic measurement and EDI. But in the interim our involvement and investment in the earlier steps have allowed us to gain a better understanding of the needs and possible solutions.
What do you think radio needs to do in the near future?
If you look at the leadership of the groups within radio, these are the best, the brightest, most talented people in American corporations. Radio used to be very entrepreneurial, managed by the seat of your pants. Now you have leadership that is very well educated and very charismatic, but I do think that they have to get back to pure selling.
The clients and the CEOs of the media agencies need to hear from our leaders about what's going on in the medium. Dial-Global is involved in many media events, and radio just doesn't have a presence. You see internet, print, television and cable, but there isn't any radio presence. I believe we have to get back to basics and reestablish our relationships with the leaders of the media-buying community.
How come there isn't more "peer-to-peer" selling?
Running a public company is incredibly time-consuming and complex, especially now with Sarbanes-Oxley. After Y2K and 9-11, the marketplace has changed and needed to really concentrate on organizations and on Wall Street. I believe it's been great job under extraordinary conditions, but now I think it's time that our leadership has to be in front of the major clients. This is something that just can't be outsourced to the rep.
What do you think about consolidation in radio?
Well, there are two consolidations. There are consolidations at the agencies and consolidations on the radio level. We are firm believers that consolidations for both businesses are excellent. At the agency level, to have a person on a Vice President level and above with direct access to the clients and the Presidents of the agency is very valuable. People at the agency are very knowledgeable - - not just about radio, but about the entire media spectrum.
They're very accessible and very creative. We like the fact that there is somebody who we can go talk to on a daily basis who has a passion for our business.
On the radio side, we believe that, at the end of the day the most important word in radio is talent. The radio groups are motivated by successful talent and the fact that we can have access, again, to the key people within this structure and have a dialogue with them almost on a daily basis about what they need from a talent perspective is a big advantage for us.
Where do you see the biggest opportunities for Dial-Global in network radio programming and sales?
What I truly love about our industry is that it continues to be a vibrant, purposeful, and exciting medium and business. Everything is cyclical, and as companies acquire assets, there will eventually be a deconsolidation as they shed what they perceive as non-performing/non-core assets. Case in point is the ABC Radio
sale, which will create opportunities in the marketplace for us to either do joint ventures or make acquisitions. We want to be there at the table with Lincolnshire when those opportunities avail themselves, and they will.
Good Morning - Gain a personal edge on today's business day. Are you reading this from a forwarded email?
