This article by RAIN CEO Jennifer Lane was originally published on her Audio4cast blog.
In the UK last year, advertising revenue on commercial radio grew 7.2% in 2014, while in the US it shrank 1%. According to an article I read by Lucy Barrett at UK’s RAB, radio in that country is alive and well and thriving across all it’s platforms:
“In a new era of audio commercial radio is complemented not threatened by the rise of on-demand services and the RAB is more determined than ever to drive consideration for audio as a long-term brand building tool so growth should continue this year…”
At RAIN Summit Europe in London last fall, RAB UK’s Michael Tull presented the results of a study called Radio Now. It’s a comprehensive, inclusive study of how listeners consume audio that finds that live radio and on-demand audio play complementary roles.
The study, which is well worth the time spent to read it, also finds that when all other things are equal, a brand’s market share follows its share of voice. What’s more, campaigns which include radio have a much higher financial return than those which don’t.
Radio is growing its market share across the pond, not by building silos but by taking the broad view of audio. About a year ago, Global Radio, the market’s biggest broadcast company, launched DAX, Digital Audio Exchange, the country’s first programmatic audio exchange, giving media buyers access to competitive broadcast and online brands like Bauer Media’s Absolute Radio Network as well as Spotify and other online platforms.
Led by the RAB, commercial radio is thriving in the UK. Maybe that’s why Apple hired Zane Lowe.