Radio has been subject to a lot of discussions lately. What is the future of radio? How can radio compete in this advertising landscape? How can radio improve? What does streaming mean for radio? How can radio minimize costs? How should radio react?
Although a traditional approach to advertising, radio is still an effective one. Let’s not forget what we are dealing with here… a $16 billion dollar ad market. One that reaches 243 million people on a weekly basis in the US. A market that has about four trilion audio ad impressions a year!
There is an overall consensus that change within the radio industry is necessary. With forever developing technology, greater demands, larger competitors and tech savvy customers, the radio industry needs to decide if it wants to move forward or move over.
As stated by the radio consultant Fred Jacobs: ”Radio commercials – by and large – are abysmal. There’s no getting around that. I think everyone agrees they have to be better, but broadcasters need to commit more resources to improving their quality, which would lead to better results.”
These changes need to be seen as an opportunity to innovate and make a difference. The effects are felt by everyone, from advertisers, agencies, radio stations, broadcast engineers to end-users. We all have a part to play. We can provide engaging original audio ads, bring transparency into radio campaigns, monitor ad campaigns and provide feedback, all in real time.
We must adopt and innovate to meet the changing needs, wants, and expectations of our customers. If we do that, we can't but move forward.
