Journalist Roland Martin says it is important to “study the business of the business.”
This mantra has served him well throughout his career in media. He used to host TV One’s “NewsOne Now” program until the network canceled the show in 2017.
On the “Black Tech Green Money” podcast, Martin revealed the decision occurred after its owner, Alfred C. Liggins III, refinanced the company’s debt, leading to various cuts.
Martin was always ten steps ahead, paying attention to the evolving landscape of broadcast television, cable, and digital media. This also led to strategic decisions such as purchasing his own equipment. At TV One, owning his equipment allowed him to cement a deal that served him long-term.
“I said, ‘I’m going to let y’all use my equipment. I’m not going to charge you a kit fee. But if my equipment is used, I get to co-own the content.’ Now the person listening or watching may go, ‘Man, why in the hell would you not charge?’ Because the content was more valuable than the kit fee. The content now goes in my library. I can use that in perpetuity,” he said on “Black Tech Green Money” hosted by AFROTECH™ Brand Manager Will Lucas.
Roland admits he was offered a new contract from TV One with a $330,000 salary for three years. However, he declined it, despite the advice from his agent. In 2018, with a personal investment of $350,000 and the help of a sponsor, he launched “Roland Martin Unfiltered,” a daily broadcast show that covers news, politics, culture, entertainment, social justice, sports, education, business, and finance, according to a description on its YouTube page.
The show is distributed through the Black Star Network. On YouTube alone, it has 1.87 million subscribers and 28,000 videos.
“Roland Martin Unfiltered” is still going strong seven years later and Martin credits this to remaining a student of the business.
“I will never, ever learn everything I need to know about this business in front of camera and behind in the business,” he said on “Black Tech Green Money.”
“But my goal every day is to learn something today that I didn’t know yesterday that I can apply tomorrow. And that’s what people need to do. There are too many people who love the content … The issue is how do you monetize it, which now means study the business of the business,” Martin continued.
“I love the content … But if I did not study the business model, if I did not pay attention to the the money coming in and the money going out, if I spent money on stupid stuff that did not yield a return, if I was not telling myself ‘No’ or telling staff ‘No, we can’t afford that right now,’ then we wouldn’t still be here. That’s the greatest lesson that people have to learn. You have to study your business,” Martin added.
Watch Full Episode
Check out the full conversation with Martin on “Black Tech Green Money.”
