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Study reveals consumers are abandoning traditional radio --
Fri, 19 Jun 2015 12:48
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Mirror Image, a provider of edge computing, streaming media and content delivery solutions, conducted a survey, Radio Evolution: From Waves to Online Streaming , which found that 43% of consumers haven t listened to their AM/FM radio at home for more than a year. The statistic is among several findings offering insight into today s audio consumption patterns and implications for audio broadcasters and advertisers.
The evolution of broadcast toward Over-the-Top (OTT) services has traditionally focused on video, but it is impacting both audio content and video content delivery services.
The study revealed:
Consumers are abandoning traditional radio listenership in their homes and cars in favour of online programming such as Pandora and Spotify, two of the most popular online radio platforms. Further, consumers are listening to audio content across a multitude of devices, from smartphones to tablets to Smart TVs.
Nearly 80 percent of respondents listen to audio content throughout the workday.
Consumers are scattered across online radio platforms, so advertisers must know where their audiences are. By leveraging big data and analytics, advertisers can identify how and where target audiences are consuming audio content and tailor advertising campaigns to those platforms.
Our Radio Evolution survey confirms that broadcast is continuing its rapid evolution toward digital. As audio consumption patterns shift, existing strategies for reaching consumers through traditional broadcast are less relevant, which could cause a decline in engagement and action, said Charles White, chief revenue officer for Mirror Image. Broadcasters and advertisers must respond by leveraging the right technologies to ensure they are delivering digital content that is optimised for where and when their audiences are listening.
Traditional broadcast companies must consider how they are reaching audiences across digital channels with only 13% of people actually willing to pay for online audio programming, ad partners will be key to monetising broadcast content. Failure to ensure content is optimised on all digital devices and online radio platforms, regardless of consumer preference, will result in substantial loss in revenue.
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