Malcolm Turnbull has an impressive radio pedigree and strong views on radio’s role in public debate.
His mother was a script writer on one of the great 2GB radio dramas of the past, Portia Faces Life and his grandfather worked at 2FC. Turnbull worked as a journalist on 2SM in his early career.
At today’s CRA Conference, Turnbull noted the success of digital radio and also talked about how radio must adjust to the new media environment.
“Advertising is shifting to new media from traditional older media. YouTube alone generates $38 million and $70 million is spent on social media advertising. Google has 23% of ad revenue in the United States, an extraordinary indication of the power of the new digital platform.
“Consumers want this content and advertisers want to reach them there…”
He said governments should not be too keen to regulate media in this environment:
“The old business models are undergoing a radical shift and it’s important that governments must not put them under more stress by over regulation… Regulation risks stifling innovation and development… Broadcasting is already one of the most heavily regulated industries in Australia.”
A liberal government would seek to “streamline and eliminate unnecessary regulation,” said Turnbull
There have been “a few events lately” which have brought social media into public discussion. Turnbull mentioned the Anti-Islamic YouTube video and the case of Jill Megher and the possibility of defamation action about her killer as a result of posts on social media.
He also mentioned the social media campaign against Alan Jones’ advertisers:
“For the time being the campaign has been successful… Alan Jones has now understood how powerful a mobilizing social medium can be, in all of its rawness, vulgarity and cruelty… Those of us in the public sphere have a duty to raise the quality of debate.”
His point was about the reach of social media.
“Social media mobilizes people from social groups who did not listen to Jones, but they were so fed up with his social discourse that they were able to influence advertisers directly… Regulation has not had much effect on Alan Jones over the years, but one social media campaign has had a big effect.”
Technology has “thrown down the gates of the media gatekeepers,” according to Turnbull. People “now have their own megaphones,” and Turnbull thinks the new environment “is both inspiring and horrifying.”
A full text of Malcolm Turnbull’s speech is available here.