MEDIA RETIREMENT: The Truth
By Hall of Fame Radio Personality Dave Pratt
The best part about owning a company is that I do not work for anybody. Therefore, I can tell you the truth!!
In full disclosure, you will never get the full truth about anything from anybody who is on the air for a media corporation. It is not in their control. Promise. This is why I was always the odd man out in corporate radio and TV. Corporate media HATES anybody with their own opinion, which is why I cherished being the contrarian. Loved by the listeners. Hated by the management. Hey, that should have been the title of my book. LOL!!
So here is the truth about media retirement.
Have you ever noticed that people in media who “retire” always work for somebody, usually a large corporation? The truth is that if they worked for themselves and could still make a great living, they would never retire. And do what?
Travel gets old. Sitting around gets old. Not being productive is a slow death. At first, retirement sounds like heaven. Well, just give it a few weeks of not being needed or relevant. Why do you think so many retired media people get depressed? Same with athletes, actors, musicians, and others. Why? Because nothing in retirement can replace the pace, pressure, adrenaline, competition, or even the recognition. For many in high-profile positions, retirement quickly gets boring as they become still. It doesn’t take long.
I have seen it a million times, and I get calls and emails from out-of-work media people every single day, all looking for “what’s next”. I love these friendships and value the opportunity to help when possible. Of course!
The truth is that most do not retire. Instead, they are gently encouraged to move on due to either their age or their incrementally increased paycheck they have earned over many years. In today’s media world, they can be replaced in a minute by a low-paid, handsome, or pretty college graduate with no experience whatsoever, or even AI.
The truth is, the old broadcaster with old skills that were once valued probably overstayed their welcome. The industry has passed them by. What was yesterday is gone today. It can be a rude awakening. In fact, they likely could have been released years ago but either accepted lower pay or added duties to retain their jobs.
And those emotional “Goodbyes” we see on television or hear on the radio? You know, the ones where they play the highlight reel of a career and the rest of the air staff or hosts cry and insist how much they will be missed……..well, more than likely they are only crying because they realize their co-worker was basically fired and they are next.
Here is the way the conversation goes….. Just pick any name like “Joan” or “John”.
STATION MANAGER: ‘John, we love you and hope that you can stay forever. However, the business has changed, and revenue has fallen. Therefore, if you stay, we will need to cut your pay, plus you will now also be handling additional responsibilities.”
JOHN: “And if I say no and refuse?”
STATION MANAGER: Well, it will be your decision, and we will miss you. However, we will throw you a big on-air retirement party!!!”
Wake up, everybody! The reason the station wants to throw an on-air retirement party is because the station does not want the public or their advertisers to realize it was the station’s decision to let “John” go.
“John” usually goes along with the on-air retirement party, and then everybody gives him puppy dog eyes and wishes him the very best. Or, he stays under the lowest pay of his career and agrees to menial jobs that he was doing as a beginner.
By the next month, or whenever John’s severance pay runs out, “John” considers podcasting or other forms of media, but then realizes that he is already 20 years behind. And the game begins. The strong stay humble, survive, pivot, and even succeed! Many others fade away as a warm memory in so-called “retirement”.
Man, I am so glad that 20 years ago I decided to do my own thing and not work for anybody ever again. Was it easy? No, but I figured it out. Even more, I did so 2 decades before that inevitable conversation with a corporate media station manager. Best decision I ever made. Thankful, grateful, and blessed.