For more than two decades, Ron Cohen has led CRC and today looks to extend and expand its reach in Arizona. CRC Broadcasting Company’s first station, 1510 KFNN has been providing coverage to investors and listeners throughout the Valley since 1988. K-News 970 (KNUU-AM) in Las Vegas was purchased in 1998 by CRC Broadcasting. Today, though, things are looking different for CRC and for Cohen. In mid-November, CRC sold its Las Vegas station and with that sale, Cohen was able to buy out his two out-of-state partners and now has full ownership of KFNN. “We’ve pioneered this financial news radio model and the sale allows me the opportunity to grow KFNN and expand this format in other markets,” he says. “This has been a dream of mine for a long time.”
Cohen’s first move as station owner will likely be down I-10 to Tucson, where he hopes to establish a financial and news talk presence in the Old Pueblo. He also eyes other regional cities which might be prime targets for the unique feed that is financial radio. On KFNN, for instance, listeners can obviously get the latest market data and daily wraps about what it all means to the investor. But Cohen takes the relationship with listens one step further. He customizes the on-air line-up around the station’s key demographic (average age is over 35 and 60 percent of listeners are male) and utilizes local expertise on numerous financial matters. “It is all about building listenership one-by-one,” says Cohen. “That’s the approach we take: Take care of our listeners’ needs and everything else will fall into place.”
It wasn’t always that easy of course. Cohen admits generating enough revenue to be profitable took several years, but today the station is making money and appeals to advertisers who seek to reach a core market of educated, successful consumers. “It took us a while to hit our stride, but we did and we haven’t looked back,” the station owner adds.
When consolidation hit radio in the 1990s, Wall Street gobbled up stations by the dozen, hoping to piggyback advertising across several markets and program types. The effort has worked to some extent, radio is bigger and more profitable that ever. Still, the need for specialized content and local analysis will always have its place on the dial.
KFNN’s content is a mix of national, syndicated radio names combined with local experts who delve into all sorts of daily topics—from retirement and investment to funding college and having the right asset mix—where listeners can find a variety and substance on 1510. Cohen says the station is also popular with Internet listeners who may have turned on the station while in Arizona on vacation or on business. “We have more than 30 different countries listening to us around the world,” Cohen says. “They recognize our value and enjoy listening, even if they don’t live here. That says something.”
While technology allows the streaming of KFNN around the globe, it also is one of the keys to the future of the station. Technology allows radio to expand as needed and Cohen expects to take full advantage of the opportunity. “I feel like our time has truly come,” he says. “We’ve proven to our listeners and advertisers that we have great value and can help people make wise and education financial decisions. We are going to take the success we’ve had and build upon it. I can’t wait to see what happens.”
www.kfnn.com |
any people know him simply as ‘Radio Ron.’ Some may recognize him from his many roles in the business community. But the irony is this radio icon isn’t even on the air—he directs from behind the scenes at Arizona’s oldest financial radio station. “This is the little station that could,” jokes Cohen in the conference room of Phoenix-based CRC Broadcasting Company, which owns and produces KFNN 1510 financial news radio. “We were created for clients to prosper and I think we’ve accomplished that goal.”
