My history with comic books goes all the way back to growing up in the late ‘50s and early ‘60s where every available dollar was spent on the colorful panels that contained stories about super heroes and other popular characters of those days. I was a big DC Comics fan, but also devoted my investments to other publications, including Archie Comics.

Those stories of the kids from Riverdale High (who never aged) were relatable to kids of my era (impressive when you consider that Archie and his mates were actually created back in 1941). Archie was the average guy with the goofy friend (Jughead), and the smartass buddy (Reggie), surrounded by Veronica (the girl everyone aspired to date) and Betty (the cute, accessible blond next door). Before there was the Ginger/Mary Ann debate, there was Betty and Veronica.

Well, imagine my surprise in the mid-‘90s when my two kids became attached to Archie Comics. When so many other comic heroes and characters from the ‘50s and ‘60s disappeared like dinosaurs, Archie and his high school buddies became relevant and entertaining to two kids living in the age of the Internet and even iPods.

That’s why last week’s New York Times “Business” section hit me between the eyes. On the front page, below an in-depth debate about wind and coal energy in West Virginia, there’s a prominent story about yet another comeback for Archie, a franchise that is in the process of being re-energized by a new, younger team.

After reading this article a couple of times, I couldn’t help but notice that the Archie story is a parable for radio. We’ve been around even longer than Mr. Weatherbee and Miss Grundy, Archie’s principal and teacher at Riverdale High. And yet, the moves that their new executive team is making with this venerable brand are noteworthy – and they speak volumes about the challenges to generating new momentum and building audience for an aging, yet established brand.

In recent years, radio has engaged in what seems like an endless debate over whether there’s even a need for a digital future for the medium. And not a week goes by when we don’t read contrarian blogs and articles, suggesting that “Radio is fine,” based on steady listening levels even in the face of Pandora, YouTube, iTunes, and SYNC.

As we well know, now that there are nearly 50 PPM markets, electronic measurement is favorable for most stations, pumping up cume listening stats. As respondents walk into stores that play radio stations, commute to work with others who listen to a favorite morning show, and have a radio on in the warehouse or break room, listening levels appear to be healthy.

But like a lot of the economic data we see out of Washington and Wall Street, PPM numbers tell only a partial story about the health of radio. They don’t speak of engagement. They don’t address loyalty. They have nothing to do with passion. And they don’t say a thing about a brand’s ability to entertain, to inspire, and to make a difference in people’s lives.

They are simply “boxcar numbers” that are often pawned off as “vital signs,” but instead are merely broad statistics being generated by an improved measurement system that has bridged the gap between perceptual listening and exposure.

We should not mistake exposure for engagement.

Talk to anybody in the newspaper, magazine, or music businesses about the cost of denial. They’ll tell you they should have moved quicker and more decisively. Similar to how Kodak turned its back on digital technology – and paid the price – the traditional media world has been profoundly impacted by the Internet, too. And it’s still only the second inning.

And it cuts both ways. It was just a couple of years ago when a similar debate raged in the book publishing world as Amazon’s Kindle reader started gaining traction. Many old-liners sat back, debated the dangers of digital books, while Amazon’s share of the market grew. Today, ebook revenues have passed traditional book sales, forcing Barnes & Noble to start throwing “Hail Mary” passes with their Nook reader, as their brick and mortar business is being threatened by extinction and is now up for sale.

When PPM (or Nielsen or Eastlan) is your main barometer, you only view radio in the world relative to the other stations you compete directly against. Same thing with Miller Kaplan and the myriad reports that show a station’s advertising revenue share, measured only against what other Clear Channel or Cumulus stations are doing in a market.

This is why Gordon Borrell’s metrics have been so important over the past several years. Gordon shook up the room at our Summit back in 2006, and attorney David Oxenford later wrote on his blog, “What was perhaps most surprising was his assertion that in 40% of markets, there is an on-line site that has greater advertising revenue than the most successful radio station in the market.”

That was four years ago. We know today that Internet and digital revenues are skyrocketing, while radio continues to be mired in the same low strata it has occupied since everyone reading this article got into the business in the first place.

That’s why the Archie lesson is important. It gives hope to traditional brands, just as Seth Godin implores “meatball” businesses like radio to tear up the old playbook, and approach a digital strategy from a new, fresh perspective. But this requires planning, objectivity, resources, and time.

This Archie story caught my eye because it is central to the conversation about the health and growth of radio brands. I will provide a link to the article at the end of this memo, but here are some of the parallels that make this a compelling story, and one that might help guide radio, and at the very least, spark some discussion as we head into the fall.

1. Adapt quickly and try new things. In the comic world, Archie is a small player. The DC and Marvel camps are much larger, and the world of comics is under the same pressures that all media face – especially print. But Archie’s under-the-radar position – similar to radio – provides a great deal of nimbleness and agility. Their executive team is comprised of just three people, so they make decisions quickly. As we well know, it is simply easier and faster to produce, adapt, and innovate in radio than it is in media like print or television. Radio has the ability to kick off new shows, features, characters, and other experiments. And most of the time, they can be put together for a lot less money and time than similar efforts in larger, people-intensive, and more cumbersome media.

2. Take a broader view with your research – and your thinking. If the Archie team thought like a radio company, they would still be asking about the familiarity and popularity of each character, and how they contribute to one’s enjoyment of the comic. And if they researched like radio, they’d just be speaking to people who still read Archie. The avenue for growth is to consider the world outside your own, better understand your place in it, and then start growing your brand to accommodate it. The Archie team looked at the popularity of other platforms and media – outside of their insular comic book world – to study how their characters and assets might translate elsewhere. Radio continues to research inside its community, thus limiting its potential growth to the same people who have been listening all along.

3. Glom onto other successes and pop culture phenomena. To make more noise and gain more attention for the brand, Archie Comics have brazenly parodied MTV’s Jersey Shore as well as the Twilight series. These efforts have helped to contemporize the characters, while generating more buzz. And they’ve been publicized by TMZ and MTV.com. Radio and its personality shows used to do a better job of parodying and reflecting pop culture icons – and being a part of the story is still something radio can inspire to. As Lorne Michaels, the king of currency, points out, “If you're not about what people are thinking about that week, then I think you don't have any relevance."

4. You have to offer new platforms. The Archie team realized the traditional comic format was limited, and was often not for sale at mainstream stores. So, they kicked off a new magazine-size publication, Life With Archie, that is in a magazine size that more retailers like drug stores, are likelier to carry, thus getting Archie out of the comic book store world. Same with radio, where podcasts, streams, and mobile apps are all new ways to move great content onto platforms that are becoming more popular and accessible in more places by more consumers.

5. In the same vein, it’s important to understand where the puck has moved – and embrace digital. At Archie Comics, there’s no debate about whether digital technology is right for the brand. Jon Goldwater, one of three new key executives, notes, “I learned that lesson from the music business. They fought against digital and got burned.” In ’09, Archie Comics launched a mobile app, ahead of both Marvel and DC. They continue to look for ways to move their content to digital sources.

6. New characters can help, too. How often do morning shows get mired down with the same cast, when someone new, different, and even unexpected could shake up the team in a good way? In the Archie series, the new guy – or new gay – on the block is Kevin Keller. He’s an openly gay character who provides new story ideas, not to mention new readers. And buzz. And relevance to a new generation of readers more tolerant of different lifestyles.

7. If you have a great brand, merchandize it. The Archie team is going all out to take advantage of its characters and history for everything from Halloween to cooler wear in stores like Urban Outfitters. Some of the shirts they’re making parody pop culture icons, like the Abbey Road take-off (pictured below). Back to #3.

We talk about this in radio all the time – the glaring lack of merchandizing. Since most stations’ T-shirt budgets dried up, few even think about logoware and branded products. Most have simply given up on the idea of external logo promotion and merch. Yet, these tools can be conduits to loyalty and cume expansion. And the Internet provides myriad opportunities to create great branded products without much of an upfront investment.

8. If you have a great brand, extend it. Not every effort will succeed, but just as storied franchises make the movie business profitable, any strong station brand or personality has the potential to be successful in other media. This requires time and investment, but when it works, it can add a great deal of profit, exposure, and buzz. In Archie’s case, they’re looking at long term plans to create a musical, and if that works, the Riverdale High kids will have a whole new life. Many radio personalities and stations can potentially spawn festivals, events, restaurants and bars, and even TV shows. It takes work, contacts, and time, but there’s no reason why local brand extension can’t be successful.

9. Community matters. It is always wise to bank on good will. Nancy Silberkleit, one of the new executive team members for Archie Comics, has put effort into creating Comic Book Fairs, a reading and literacy program. Of course, participating schools are incentivized by the number of Archie Comics they sell, not to mention the value of exposing the brand to growing legions of kids. Radio typically does community very well, but there is more to be gained by championing events that are keyed to a station’s brand (like music for music stations, town meetings for talk outlets, etc.) than to be one of a dozen logos on yet another mundane fundraiser. That’s not to say that raising money for charitable organizations isn’t a good idea, but oftentimes, station resources become depleted because they are spread over dozens of events, rather than focusing on that one important and strategic community. Too often, local stations don’t receive the credit for the work they do.

Venerable brands that have been around for decades don’t often have those shiny new product benefits. But as Archie Comics prove, there’s a lot to be said for nostalgia and modern-day relevance.

Whether you believe that radio’s health will improve with the economy or whether the Digital Age ushers in an entirely new set of challenges for the medium, the branding opportunities for many stations and personalities are available – if companies choose to make the investments in time, personnel, and money.

It is also important to realize that radio’s new competitors, like Pandora, Slacker, satellite radio, and many others are focused on more than just revenue generation and remotes. They are actively involved in brand building, cume expansion, and increased exposure and awareness. These are full-time endeavors, requiring planning, R&D, and execution.

The Archie Comics story should give us optimism that it is possible to revive and re-energize old-line brands. Not every initiative this new executive team puts into action is going to be successful. New characters may anger the core. The musical might flop. Some of the digital ideas may not pay for themselves. And their community campaign could falter in a shaky economy.

But they are out there, trying new things, looking for ways to enhance a brand that has enjoyed decades of good will and mass appeal.

Thanks to the hard work of companies, employees, researchers, and yes, consultants, there are still some incredibly strong radio brands out there, despite the neglect and economic deterioration that has occurred in recent years. To let these assets simply erode is to waste the investment in time, money, and resources that have made stations successful over the years. Radio – like Archie – has the potential to study its assets in light of a new marketplace.

Go Riverdale! Go radio!