We’ve come a long way baby…or have we?
For some readers, it’s easy to remember 2009. Radio revenues had crashed -- literally. However, as we were scrambling for a way to recover, we met digital revenue.
Source: Jeff Schmidt, RAB
In my market, we came up with this brand new concept of streaming our radio stations through our websites and selling sponsorships to the streaming – and actual commercials during the streaming breaks -- plus a landing page and, for a premium price, the video gateway to the stream. It was slick packaging and our first foray into the world of Digital Advertising.
At the time, advertisers were not aware of what digital could do for them. So much so, that we had to package on-air commercials in order to sell the stream. As a stand-alone, it wouldn’t fly. We’ve come a long way since selling pre-rolls and streaming spots. Digital has opened up a whole new world of opportunities.
In the soon-to-be-released Benchmarking Local Radio Stations’ Online Revenues report from RAB and Borrell Associates, you will find that for nearly two-thirds of radio stations, digital services have become the nectar that attracts the advertising bees. It seems abundantly clear that digital is a revenue opportunity to embrace and perfect.
One of the very first questions managers like me asked several years ago was: Can digital help us cultivate new radio users, or can radio users be cultivated to attract new digital spending, or is it a combination of the two?
How successful is digital at reeling in radio customers? This year's Local Online Advertising Conference (LOAC) features several companies that have made it into a science. One of the main-stage speakers is Tim Murphy, Entercom's SVP of Business Development, who will lay out the breakaway success of Smart Reach Digital. The conference also features the CEO and four other key executives from A.H. Belo, a media company that generated more than $50 million in digital revenue last year in one market alone.
RAB Members can register to attend with a $200 discount by using RAB200 as your promo code. Register here.
If you’ve not tapped fully into digital in your market, you’ll want to be part of the Benchmarking Local Radio Stations’ Online Revenues report webinars and attend the Local Online Advertising Conference, March 12-13 in New York City. The accompanying webinars are free for RAB Members. Click on the dates below to register.
February 13 at 10 a.m. CST
February 15 at 3 p.m. CST