With digital media taking over the advertising world, people might think that the traditional mediums are soon to be a thing of the past. Borrell Associates and the Radio Advertising Bureau discovered that instead of digital booting out the “old” radio, they may in fact be supporting one another.
The radio industry has an opportunity to step into the digital world. Through this, they’re able to capture radio ad dollars and digital ad dollars. Borrell Associates reports that the radio industry raised its digital ad revenues by 11.4% last year bringing their total digital ad dollars to over $550 million.
The study shows a strong correlation between the rising revenues and the opinions of radio employees. 250 managers and 2,704 stations were surveyed on their attitudes about digital revenues in the radio world. It is no surprise that as ad dollars from digital media rise, the attitudes of radio managers also become more positive.
Today, only 16% of radio sales managers believe that radio sales suffer due to reps being forced to sell digital advertising. That percentage has dropped significantly from 2014 when over half of radio sales managers felt like radio sales were suffering.
I believe this is a huge opportunity for the radio industry. Instead of remaining stagnant in their traditional ways, radio has opened its doors and embraced the digital platform. If history has taught us one thing it’s that change is inevitable and if you refuse to adapt, you’ll surely be left in the dust.