How Terrestrial Radio Can Remain Competitive in a Rapidly Evolving Market

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The terrestrial business model is about connecting advertisers with audiences. Local radio stations have long had strong position in this lucrative market, but their simple people-meter focus is increasingly at odds with what advertisers expect: highly targeted and measureable impressions. Broadcasters have a window of opportunity to evolve their strong local sales capability by investing in programmatic ad technologies and actively incorporating digital into the sales process.

Streaming of digital media continues to grow in popularity, making it easy to understand why industry observers ask how, and if, terrestrial radio can survive. After all, television networks struggled to confront the emergence of Netflix and Hulu. Only in recent months have they identified possible ways to compete with video streaming providers.

Research, however, indicates that traditional radio is alive and well. A recent Nielsen study found that Q2 of 2015 saw the highest number of people tuning into radio ever, with 91 percent of the American population tuning in at least once a week.

This doesn't mean that music streaming services are a fad. Research predicts mobile music-streaming audiences will grow from 320 million in 2014 to 808 million by 2021. Broadcasters must recognize, and adjust to, changes in audio consumption or risk not having a seat when the music stops playing.

In this slideshow, streaming music service provider Slacker Radio examines strategies that might serve to open up new opportunities for terrestrial broadcasters, as they continue to search for ways to modernize and stay competitive in an increasingly crowded and digitized market.

 

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