Wednesday, April 12, 2017
That’s the title of a song from R.E.M. from 1994 when radio was truly at its peak. Before all of the corporate mergers started to reduce the medium
to a pick your demo, we’ve got a format for that. The early 90’s introduced the world to the Seattle grunge sound, club music, and hair bands.
As an advertising medium, it still reigned as a powerful force in the marketplace.
Remember, this was before the Internet, satellite radio, iTunes, Spotify and Apple Music. The only place you could listen was in the car or at home.
Advertisers had a captive audience nearly 24 hours a day and stations used their creativity to promote clients through events, remotes, contests
and sponsorships to the station’s P1, otherwise known as true fans.
Technology has changed all that. Or has it really? Radio is still one of the most powerful forms of mass media there is. In fact, according to a June
2016 poll from Statista
adults between the ages of 35-64 listen to the radio over 1000 minutes each week. However, it is not just Gen Y and Baby Boomers. In February 2014
estimated that about 65.2 million adults 18-34 listen to broadcast radio every week, most likely on their commute.
There’s no doubt that the launching of services such as Pandora and Spotify have had some impact on advertising revenue at terrestrial radio stations.
However, most if not all, have at least a web presence with streaming so they can capture their fans as well as monetize the digital component.
Radio still has a tremendous amount of value for advertisers and listeners. So tune in and listen up!