David Field Writes '2014 Was A Great Year For Radio'
January 6, 2015 at 3:53 AM (PT)
ENTERCOM Pres./CEO DAVID FIELD took to the company website, not only to look back at 2014 from his company's standpoint, but also to take an overview of the business of radio.
FIELD wrote 2014 was, "a great year for radio. Broadcast radio listenership grew to an all-time record 243 million Americans each week. And radio is the #1 medium in the U.S. between 5a and 5p daily, surpassing television, internet and all others. And NIELSEN released the most important study on radio’s effectiveness in history. The results are outstanding: Radio advertising drives an average of $6 in sales lift for every $1 in radio ad spend -- an ROI double that of even the best results from recent studies of digital or TV media. A similar study was recently released by the RAB in the UK which confirmed the outstanding effectiveness of radio advertising by showing comparable ROI performance.
"In fact, in a world in which so many competitive media are suffering from fragmentation, declining audiences, DVRs, etc., radio is far and away the least disrupted of all forms of advertising. And key advertising leaders are beginning to take notice. ANDREW ROBERTSON, the CEO of global ad agency BBDO, was recently asked about radio advertising and said, 'There are still huge, huge radio audiences -- and frankly, it is a massively underutilized medium.' The truth is that with all of the enormous challenges facing other forms of media, radio is the superior choice for any customer looking for enormous reach, local activation and strong engagement at an attractive price.
"It is also gratifying to reflect on the enormous impact that our work has on the lives of the American public. What we do matters in so many ways. We are the #1 source for music discovery and offer compelling personalities, companionship, community connection, public service, relevant news, sports, talk, and so much more. BONO may have put it best this past SEPTEMBER when he said simply, 'In the end, radio is everything'.”
Read the full post here.