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Over the past couple of months Nielsen has published some interesting data that reinforces what we already know about how radio listening is holding up in a world of disruption and new media choices. It’s up to the Radio industry to go on offense with this information and counter the urban myths that are out there regarding our still large and strong audience.
With the devastation in Houston, Florida, and other areas due to Hurricanes Harvey and Irma still fresh in our memories (and with months still to go in hurricane season), it’s probably a good time to remind ourselves of the important role that radio plays in responding to natural disasters.
I attended a session at the Radio Show last week called “The Connected Car Listener Experience.” One of the panelists was Scott Deaver, the Executive Vice President and Chief Marketing Officer of the Avis Budget Group. Mr. Deaver doesn’t consider himself to be in the car rental business. He is in the “Mobility Business.” He explained that while Avis Budget has a very successful and profitable car rental business, they were busy focusing on where the consumer was going to be in 10 years, not where they have been in the past. This is causing Avis Budget to focus on initiatives like autonomous vehicles and to establish profitable business models that allow people to share cars rather than own them.
Cable advertising has always had a unique competitive advantage in the marketplace. It has the targetability (geographic and psychographic) of radio, with the pictures of television. It was also a low cost provider. This made it difficult to compete.
For decades, radio had nearly a monopoly on entertainment in your car. It was one of the few diversions that still let you drive safely. In recent years, this dominant position has been challenged by other audio forces like Sirius/XM and the Pureplays. Still, most studies show that traditional radio continues to dominate auto entertainment.
