Bill Jacobs weighs in on the implications of Internet usage surpassing time spent listening to the radio. The Internet is indeed a runaway train.
A recent study released by The Media Audit finalizes the inevitable – web usage has passed time spent with radio for the first time. (TV still has the lead, but it’s just a matter of time for them, too).
It’s not all bad news though. TSL to radio has remained unchanged over the last two years (though radio’s share of a typical media day is off from about 27% in 2006 to 24% in 2007).
The other important finding is that "although the time spent listening to radio has remained unchanged over the last two years, the same report revealed that currently 14.2% of U.S. adults visit a radio website in a typical 30-day period, many of whom are likely streaming radio content."
So, of all the possible places one can go on the limitless Internet, 14 out of every 100 adults visit a radio station website. Of course, these numbers would be higher if radio station websites were sticky, laden with great content, refreshed consistently, up-to-date, and as digitally enhanced as possible. Yet it’s an unfortunate truth that many station sites are sorely lacking in these areas (some stations still do not even stream their audio) and, as such, are losing out on carving and keeping a piece of the Internet pie.
The additional implication is that sites that aren’t living in the 21st century are also missing out on significant revenue opportunities. According to online research firm and Jacobs Media Summit Speaker Gordon Borrell of Borrell Associates, "Local online ad spending is predicted to reach $12.6 billion in 2008. Among the top three advertising categories for local web sites are automotive, recruitment, and real estate with the likelihood of political advertising to heat up this summer."
The bottom line is that nothing is going to stop the runaway train called the Internet. But radio has a place on that train with a truly interactive, interesting, sticky content. And the ability to generate serious revenue is well within our boundaries if the necessary efforts and investments are made. And this is a train none of us can afford to miss.
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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