These are the words that have been used to describe radio by some of the most widely recognized national brands and large advertising agencies. During the 40th Annual Fall Broadcast Management Conference and the 16th Annual Power of Urban Radio Forum, speakers and panelists discussed radio’s strengths, future as well as what radio can do to help advertisers address their challenges.
Today’s blog is brought to you by: Scott Bender, Global Head of Publisher Strategy and Business Development, Prohaska Consulting
Much continues to be written about the growth of digital audio. By 2017, Digital Radio listenership will grow to 57.8% of the population, according to a recent study by eMarketer. Digital advertising dollars are steadily following and are projected to grow 24% next year.
With the growth of digital, new technologies are emerging. International Data Corporation (IDC), an American market research, analysis and advisory firm, reported that by 2020 roughly one of every five radio dollars, or about $4 billion, will be booked programmatically. The whitepaper prepared last year for the RAB by Prohaska Consulting defined programmatic as follows:
“Programmatic buying is the process of executing media buys in an automated fashion through digital platforms such as exchanges, trading desks, and demand-side platforms (DSPs). This is an alternative to the traditional use of manual RFPs, negotiations and insertion orders to purchase digital and other platforms.”*