At RAIN Summit West last week we introduced a new segment called POV, a familiar acronym for Point of View. In business circles, POVs are a type of presentation used to briefly define a position – often on a new or widely debated topic. We thought it would be interesting to invite leaders in the industry to weigh in on a broad topic, so this time around we invited several folks to make a brief presentation on “Redefining Radio”. We didn’t offer any further instructions about the topic than that.
Triton CEO Neal Schore took the stage early in the day and used his POV presentation to talk about something that I think is critically important for Internet radio – listener registration. Schore told the audience that it’s time to require listener registration in exchange for online content.
I couldn’t agree more. As Schore pointed out, most online stations are already requiring registration. This enables them to offer highly targeted ads and content that is more interesting to the listeners and more valuable to advertisers. It expands the time that listeners are willing to spend with a station, and it raises the likelihood that they’ll interact with an ad because that ad is specifically targeted – by gender, geography, or perhaps other criteria, to their specific situation.
Folks that don’t register their listeners argue that it depresses audience growth. But in the next breath they’re arguing that streaming expenses are too high. Those two things go hand in hand — require registration and maybe you lose a few listeners but that lowers your overall expenses while at the same time raising your ability to effectively monetize the remaining listeners. They’re more valuable because you know exactly who they are, you can interact with them and expand your relationship, and offer them targeted ads.
This is not broadcasting folks. Internet radio has the ability, as Schore pointed out at RAIN Summit West, to uniquely target every single listener and develop a unique one to one connection that is far more valuable and meaningful in today’s content marketplace. There is no reason not to. Schore’s message was an excellent contribution to the smart exchange that took place at RAIN Summit West last week.