Latest From The SNL Kagan Conference
April 3, 2009 at 5:04 AM (PT)
The 26th annual SNL KAGAN Radio/TV Finance Summit YESTERDAY (4/2) heavily favored radio’s digital future, and backers of new media maintain that online radio advertising’s "precision targeting" will drive its growth (even as the "brute force-driven" traditional broadcast platform stalls), reports KURT HANSON's RADIO AND INTERNET NEWSLETTER.
TARGETSPOT CEO DOUG PERLSON said on a panel, "Advertisers are embracing online radio faster than anyone ever thought they would. The ability to respond to an ad immediately makes local advertising very appealing because you can target-specific ZIP codes and demographics." He added, "Advertisers are looking to hyper-target -- not just to match up geographically, but match up by demographics."
If you get 80% of your revenues from local sales, then how can you not have local content?
FIGMEDIA Pres./CEO BILL FIGENSHU agreed that it’s imperative to be local. "If you have 100 stations, then you need to think local 100 different ways. If you get 80% of your revenues from local sales, then how can you not have local content?" He insisted that building the content-rich Internet extension of the station "is not an option, it’s a necessity."
WESTWOOD ONE SVP/Chief Digital Officer RICHARD KOSINSKI explained, "Advertisers are willing to pay more money to reach their targeted audiences. And they are talking to marketing managers and telling them they want very specific metrics."