Losing profits due to declining sales, a well known mall back in my place decided to rent the entire third floor. Within a few months, the third loft looked like a “tiyangge”. Not a bad idea. People start to swarm back to the mall.
After Joey @ 92.3 and XFM, (oh did I mention MRS?) the 92.3 dial point has just gotten another facelift. Introducing — U92. The format — Hot AC. Owner: still NBC, but it’s not them managing the programming.
The U92 format is handled by Francis Lumen, president of All Youth Networks, which covers MTV Philippines. Lumen was a president of NBC and also a blocktimer. When NBC realized they couldn’t make any more profits, they lifted the XFM format and handed over the entire programming task to the AYC President.
Lumen is basically renting the whole DWFM airtime*. The question is will this really bring more profit to NBC?
AYC is a solid company. You got solid names in the industry jocking the station (KC, Marc Abaya among others). Running MTV Philippines means a captured market and competitive edge. No doubt it can generate that much needed revenue.
But like pop music, new brands have the tendency to become disposable. While it’s still hot, they had to make the most out of it. If U92 will become as solid as the MTV brand, they could last for a number of years. If it won’t? Well, NBC can still look for another tenant to do the programming for them. And Francis Lumen won’t have to worry about losing profits.
The mall did get a positive bottom line for a while. Poor owners, the solution they thought later gave them more headache. Their tenants became the owner’s competitors. Shoppers went for the tiyangge’s. Movie watchers preferred the DVDs than going to cineplexes.
Congratulations though to U92. Bring on the love! Cool to be U! Listen to U92 FM Online at www.u92.fm