Radio is not in decline, it’s expanding, and that represents an enormous opportunity, according to Arbitron‘s SVP Paul Krasinski. Krasinski and SVP Bill Rose presented results of their recently updated Infinite Dial Study at RAIN Summit West last week and encouraged broadcasters to recognize the opportunity that digital distribution offers.
With 86% of the 12+ population connected to broadband and one-third of consumers owning a smartphone, it’s a different world. Embracing the fact that radio’s audience is distributed beyond the broadcast is key to future success. Access to audio has changed, has radio changed? asked Krasinski.
Online radio’s audience is expanding, with 89 million listening last month. And 89% of those listeners listen to both broadcast and online radio. Krasinski urged the crowd to alter their view of “audience” and see it across all of radio’s channels. In that regard, the audience is growing. With that growth comes a responsibility to offer great content to listeners.
A key component for radio will be developing innovative solutions for advertisers that enable them to use and measure the effectiveness across these distributed channels. Over the past few months we’ve heard hints that Arbitron is planning to step back into streaming measurement and while they have not announced anything yet, it sounds like it will be a product that enables stations to aggregate audiences from distributed channels. While their PPM product does measure streaming now, it only measures such for stations that simulcast 100% of the time, meaning that stations that sell streaming ads separately from over the air ads don’t qualify. Whether this will change is unclear.
The streaming audience measurement game is stepping up its pace – with the recent accreditation of Webcast Metrics and Arbitron beginning to talk about new plans for the space, more and better options are available to stations, which is bound to be good for the industry.