Why are the mighty falling in Ibadan?
Why are tested, trusted and proven brands failing in Ibadan?
Is Ibadan stylishly hostile to strangers?
Is Ibadan so conservative that it naturally abhors a different style?
Are there gate keepers that are silently frustrating “outsiders”?
Is Ibadan so peculiar that it cannot be treated like other cities?
Is Ibadan so dominant that you must conform to its style if you want to succeed in it?
Please resist every urge to attempt any of these questions until you take your time to read my submissions and premises below.
It is no longer news that Ibadan media space is saturated with all kinds of radio stations. It’s a good thing to know that despite the pluralism and seemingly indiscriminate establishment of radio stations, some stations are still managing to navigate the waters well. While a few are very able to stand fit, notwithstanding the continuous cut on their profit margin, many are just able to slightly keep their head above the waters. There is yet another category of stations who are surviving but not living, they are the ones my Yoruba people will describe as one leg on earth, the other in heaven (Ese kan aiye, ese kan orun). These ones are not making profit and are not ready to record direct losses too, so their services are doable when able. Another open secret is that many radio stations are still surviving because the owners keep injecting more funds from other sources.
In recent times, some radio owners have had to confront themselves with the bitter truth when they realize it makes no economic sense to keep investing in a business that has little or no definite prospect of becoming viable sooner or later. I’m not part of their management staff, but I know it must have been a very difficult management decision to shut down a radio station after years of existence. Within the last 5 months, 5 radio stations have gone off air in the city, permanently or temporarily we can not tell for now. While all of them cite different reasons for this, it is obvious that viability, profitability and running cost are some of the major demons responsible for this.
A critical analysis of these 5 stations revealed that majority of them are known names. They could even be described as Big Boys in the industry, simply because they have proven track records across the length and breadth of the nation and even beyond. Any rookie in and around the media world know that Megalectrics is not a small name. The company ably led by a vastly experienced media guru, Cris Ubosi, boasts of some of the biggest radio brands like Beat FM, Naija FM, Classic FM and Lagos Talks. The company is so successful locally that it has extended it’s reach to the United Kingdom, with the Beat FM, London. The conglomerate has a unique brand and strategy, which they have continuously replicated all across and has been hugely successful everywhere they go, until they got to Ibadan, some 7-8 years ago with Beat FM, Ibadan. The station introduced many of their successful strategies in a bid to recreate their successes in Ibadan but to no avail. It was in that same vein they introduced their sister station, Naija FM, being a Pidgin station, they even infused some Yoruba programmes, hoping that the Ibadan climate will be more receptive of an indigenous brand. Both stations paraded some of the finest talents in the land at different times, but yet the stations cannot be truly described as being financially viable. Until they sadly announced their “restructuring” towards the end of last year after laying off all their members of staff.
Other prominent stations, with successful track records that are not having the best of times in Ibadan are Correct FM, Raypower FM, Star FM and Inspiration FM.
Correct FM is a station owned by Group8 Limited, owners of Soundcity TV, Soundcity Radio, Urban TV, Urban Radio, Spice TV, Televista, OnTV, OnMax, Correct TV, and Correct FM. The company is ably led by media giant, Tajudeen Adepetun. I make bold to say that Correct FM, is one of the stations with the best music routine in Ibadan, if not the best, and it is the only surviving pidgin station in the city, yet it cannot be described as commercially viable. The station was in the news recently for all the wrong reasons that bothers on withholding of several months salaries.
Raypower and Star FM belongs to the same WhatsApp group, many people have often described them as orphans prematurely left to fend for itself before it’s weaned. The stations cannot be listed when successful radio brands in Ibadan are listed. This is despite the huge successes and impressive track records they have from different locations in the country where they have other stations.
The latest addition to this worrisome list is Inspiration FM, a station owned by Amazing Inspirations Media Limited, under the Leadership of Dr. Erastus Akingbola as the Chairman, and renowned Media guru Azubike Osumili as the MD/CEO. Inspiration FM is one of the big names in Lagos, and they have gone ahead to replicate their success with other brands and in other cities with significant accomplishments. The station came to Ibadan with it’s unique niche, as a family radio and it seem to have a measure of success in the first few years of it’s existence, before everything went south. Ever since then it has been from one restructuring to another. Just last month they had to restructure for a record third time or thereabout in less than 4 years. The last restructuring saw the laying off of almost all their staff members, except the General Manager, a few engineering and logistics staff. More worrisome is the fact that they have also gone off air, but despite that, the station insists they are still very much on ground.
Bearing all these in mind, kindly attempt to answer all my questions sincerely. Your sincere responses should be able to provide guidance to the other big brands planning to come into the city now or in the nearest future. So for the ease of response I ask once again;
Why are the mighty falling in Ibadan?
Why are tested, trusted and proven brands failing in Ibadan?
Is Ibadan stylishly hostile to strangers?
Is Ibadan so conservative that it naturally abhors a different style?
Are there gate keepers that are silently frustrating “outsiders”?
Is Ibadan so peculiar that it cannot be treated like other cities?
Is Ibadan so dominant that you must conform to its style if you want to succeed in it?