RAIN 10/1: RAIN Summit East panels tackle both sides of Net radio monetization
AD BUYERS: CLIENTS EMBRACING NET RADIO, LOVE REAL-TIME RESULTS“One of the most important discussions” at RAIN Summit East this week, according to Ando Media COO Paul Krasinski, was the issue of monetizing Internet radio. The Summit hosted two panels on the topic, one from the perspective of advertisers and another from the webcasters’ side.
Krasinski moderated the panel with ad buyers and said that “we are seeing tremendous performance” from Internet radio ads and that “good news is on the horizon.” That sentiment was echoed by the panelists.
“I’ve found as a marketer great value in Internet radio,” said Christina Santos of ICF International. “You can talk directly to the consumer. You can actually initiate an action…we’ve seen great results.” She mentioned received “exponential” click-through-rates with Pandora. “Our clients see those results.”
Lisa Kleinman of Hill Holiday said more of her clients are “much more receptive to the idea of streaming radio and actually paying for it.” The real-time results Internet radio providers to ad buyers is a big reason for the interest. RDR’s Askin Emir shared the anecdote of a client who, after running tests with terrestrial and Internet radio and viewing the results, asked to advertise just on streaming radio.
But Amy Bickers of Starcom cautioned that ad buyers are “still in education mode” with Internet radio, but that “2011 will be a much better year…there’s still a little bit of fear [about streaming radio],” but ad buyers are very open to testing the waters.
PANDORA’S HOLLANDER: NET RADIO PENETRATING MORE DAYPARTS, NOT JUST AN AT-WORK EXPERIENCE ANYMOREOver on the webcaster-side of the monetization discussion, Pandora’s Les Hollander pointed out that Internet radio is hardly an exclusively at-work listening experience anymore. Over 50% of Pandora’s listeners tune in from mobile devices, for example. Internet radio is penetrating commute times and weekends.
That means there’s plenty of opportunities for creative advertising. Panelists Andy Lipset, TargetSpot co-president of sales, Dean Mandel, Katz 360 VP of sales and Billy Freund, Triton Media EVP, all shared ideas for ad campaigns. Freund suggested selling ads for local restaurants from 11am-2pm to target workers listening to streams and thinking about lunchtime. Hollander and others recommended selling branded radio players.
Overall, the panelists said there is a lot more familiarity and curiosity among ad buyers about Internet radio than 3-4 years ago. The industry is in “a much much better place.”
We’ll be continuing our coverage of RAIN Summit East next week, so stay tuned!
NEW BILL WOULD EASE PUBLIC RADIO MUSIC STREAMING RESTRICTIONSA new bill, introduced in the House of Representatives this week, would remove restrictions known as the “performance complement” of the 1998 Digital Millennium Copyright Act. Those restrictions include limiting the number of times a station can stream songs by the same artist or from the same album or compilation.
NPR says that prevents public radio stations from “streaming symphonies in their entirety, promoting local and emerging artists, or properly educating their listeners about the lives and careers of American musical masters.” The broadcaster group applauded the bill — titled the Public Radio Music Enhancement Act of 2010 (H.R. 6307) — and thanked Congresswoman Tammy Baldwin (D-WI) for introducing it.
PLENTY OF NEWS FROM THE RADIO SHOWA healthy helping of news has broken since the RAB/NAB Radio Show got under way in Washington D.C. Here’s a quick run-through of the headlines:
JACOBS MEDIA DEBUTS “GOIN’ MOBILE” STUDY Jacobs Media and Abritron released the results of their new “Goin’ Mobile” study, which found that consumers are more or less addicted to their smartphones and Pandora is along for the ride. Find out more from Jacobs Media here.
MARKETRON ACQUIRES mSNAP Marketron has acquired mobile ad network company mSnap, bolstering the Marketron’s mobile offerings for media companies. You can read the full story here.
ABACAST TO PROVIDE BRANDED MOBILE APPS THANKS TO JACAPPS PARTNERSHIP Jacobs Media’s jacApps and Abacast have partnered to deliver branded streaming radio mobile applications for Abacast customers. You can find the companies’ press release here.
TRITON DIGITAL PARTNERS WITH VOICES HEARD MEDIA FOR AUDIENCE POLLING APPS Voices Heard Media will provide Q&A and polling apps as part of Triton Digital’s new Free App Store. Radio Ink has more here.
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