05 Feb

Radio – You’re Looking In Mighty Fine Shape!

Cooking With Radio Edit 4

According to the latest adspend figures released last week, radio is performing well ahead of the market. In Q3 2018 radio revenue increased 5.0% year on year (boosted by a 25.1% rise in digital revenues) in line with a total media market growth of 5.1%. It means that radio remains the second fastest growing medium after the internet. It’s clear that advertisers continue to recognise the positive impact radio can have for their brands – particularly in an uncertain financial landscape.

It wasn’t that long ago that people were predicting a grim future for radio. With Spotify, Apple Music, Alexa and the likes becoming such big players, radio appeared to be sitting on death row – if not already shuffling towards the gallows.

So why were the predictions so wrong? Why is radio continuing to grow – in popularity, in listening figures, in revenue, in pretty much everything?

We have a number of Amazon Echoes around our offices. They have the ability to play pretty much any song that has ever been recorded. And yet by far the most common instruction we hear from any team member is “Alexa – play (insert radio station name here)”. And we’re not alone in this. More than 75% of us use Alexa to listen to live radio.

And that’s the really essential point. Music is important to most people. But most people want more than music alone. They want companionship, they want information, they want to be entertained, they want to feel good. And radio offers all of the above. Why? Because listeners often see radio as a “friend.” They use radio for emotional reasons – to keep their spirits up, to stop themselves from feeling bored in a car or while doing daily chores and so on. This leads to them seeing radio as a kind of “mate”, and this is a valuable context for an advertiser to appear in.

The majority of people listen to radio on their own and therefore they will have their own personal experience of the output which is not shared with other people. We listen to radio in the morning when we wake up, in the shower, during breakfast, on the way to and from work, preparing dinner, we could go on! Our friend the radio comes everywhere with us. Radio presenters actively cultivate this relationship so that listeners feel they are being spoken to on a one-to-one basis. This makes for a more powerful advertising opportunity, for example, when a radio presenter talks about “our friends at Company X”, the listener is hearing about a friend of a friend – and this has a strong effect on bringing a brand closer. If the creative messages in the radio airtime campaign works on this level too, then the effect is the same.

So radio is our friend. And, as we’ve said before, it’s a friend that officially makes us happier. According to a report in 2018, listeners tune in to radio over other media because it makes them happier!

Add to that the fact that radio is considered the most trusted medium and is consistently found to be the most trusted source of news and information available to audiences in the UK and Europe; and then add to that the fact that radio is by far the best medium to target the right people in the right place at the right time and it’s no surprise that our industry is in such fantastic shape. And no surprise that radio adspend figures are so good.

So it looks like it’s going to be another great year for commercial radio. Want to be part of it? Give the team at Kalua a call and let’s talk about getting your brand on the best, fastest growing, most trust-worthy and happiest advertising medium out there!

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