Radio World – With rivals moving at internet speed, online media seems to have reduced broadcast media powerhouses to the status of media dinosaurs. However, new AI technologies are giving the so-called old media firms a chance to turn the tables on their internet rivals.
It’s true: Broadcast media is at a crossroads. Consumers are swarming to new opportunities that maximize content and minimize advertising, but that doesn’t mean that traditional broadcast mediums are disappearing — it means they are adjusting. While ad buying and selling remain a vital part of the radio industry lifeblood, quick decisions must be made in order to maintain success for both advertisers and broadcasters alike.
Quantifying and measuring broadcast hits, native advertising and on-air product placements has historically been difficult and tedious. Despite the reporting struggles, in 2015, radio garnered $18 billion in revenue. In order to continue growing this revenue stream, ad efficacy and validation, as well as reporting efficiency and analytics, are increasingly important in 2018 to show ROI measurements to key advertisers.
The solution to the struggle between broadcast outlets and advertising is more innovative metric reporting that assures proper advertising investment. As consumer interest is garnered and lost at the speed of sound, artificial intelligence is the key to an innovative and successful future.