The radio industry will crack the half-billion-dollar mark in digital advertising in 2015 for the 1st time, growing revenue 18%, according to research issued by Borrell Associates for the Radio Advertising Bureau. The report, Benchmarking: Local Radio StationsÛª Online Revenues
The Wallace Foundation case study describes the efforts of the Minnesota Opera to expand its audience by reaching a population segment where it suspected potential fans might reside: Women aged 35 to 60. The opera companyÛªs work centered on making the most of an unlikely partnership
Which media format has nearly identical reach across age, income and ethnic groups? It’s radio. About 90% of U.S. consumers over age 12 regularly listen to the radio. In the State of the Media: Audio Today, Nielsen encourages marketers to make use of radio because it reaches so many consumers who have money to spend at traditional stores in the immediate future.
By many accounts, consumers will be opening their wallets to spend on home improvement projects this year. We’re not quite at the annual spending level that was reached right before the recession, but homeowners are buying more paint and plumbing fixtures and paying for more contractor and architect services. For many marketers, the biggest question is how to connect with homeowners who are considering home upgrades. The Radio Advertising Bureau has published new research showing the big impact of radio ads on these homeowners.
As a traditional media format, radio still has muscle. About 90% of U.S. consumers spend at least a little time listening to the radio. In general, the listening time amounts to about 2 hours a week and that’s often done in the morning. But some consumers listen to the radio for much longer periods of time. These super listeners, notes Nielson, should be of keen interest to radio stations and the marketers they’re selling airtime to.
Local radio companies continue to invest new ways to help their clients reach the growing digital audience. But, they continue to do well in the traditional ad market as well. BIA/Kelsey analysts report that these companies are winning the battle against new national upstarts by broadening listener experiences. They’re also expanding the types of opportunities that are available to advertisers. In 2014, radio operators will continue to lean heavily on key industries to maintain their share of the local ad market.
Does ad-supported digital-music streaming radio pose a threat to traditional networks? It’s worth considering this question as more competitors crowd the field. Pandora, Spotify, iTunes Radio and iHeartRadio are all courting audiences and marketers. Their move to grab local revenue could change the radio industry.
Radio has long been the perfect medium to reach consumers who are captive in their cars – commuting, carpooling or running errands. But an increasing number of consumers are discovering Internet radio and listening in a wider range of venues. As this audience grows, marketers are taking notice.