Nielsen recently changed from a 5-minute radio qualifier to a 3-minute qualifier. What a difference this should make in the industry. The RAB had their largest attended webinar ever last week to discuss what this new measurement requirement means for our business and, frankly, how this will be a “Game Changer” for everyone.
The webinar featured CEOs and COOs from various companies, from iHeart to Audacy to Saga, Bonneville, Beasley, and others, speaking on the need for radio companies to stand together with “One Voice” and speak to the value that radio brings to the ad community. These leaders all agreed that this new 3-minute qualifier will enable radio to take center stage in a world where we have been truly underrated and devalued.
Hartley Adkins, iHeart President of Markets Group, spoke passionately about the value of radio and the manner in which we have been under under-valued for quite some time. His numbers exemplified the stark variance between the usage of radio and other platforms.
For example, TikTok, with all the hoopla and attention it receives, has a penetration rate of only 33% of the population, while radio offers triple that number. He went on to ask, “If I came to an advertiser and asked, ‘Did you hear about the new social media platform that’s launching tomorrow’”?
“Day one, it’s going to be in every car on every dashboard in America. It’s got unlimited influencers…it’s free, it’s mobile, it’s more trustworthy than any other medium – oh, by the way – it also reaches 90% of America.” You would think this was the best thing since water.
Audacy COO Susan Larkin spoke about the need for the various media companies to have “Realistic conversations with each other and be honest and direct about where this industry is going and how we can have an effect and impact on audiences and our advertisers.”
For the first time and to the credit of RAB CEO Mike Hulvey and the Board of Directors, the largest and smaller broadcast/media companies are speaking with “One Voice” to the ad community. The benefit of this exciting campaign is, as iHeartMedia CEO Bob Pittman adds, “This is the last and only mass-market medium. Radio still delivers 90% of Americans every month. Nobody comes close. So, we need to have one voice about how important radio is, how unique radio is, and how radio is not a sector in decline. We have more listeners than we did 10 years. That’s the power of what we have.”
The purpose of this wonderful endeavor from RAB is to stake our strong claim to the value of radio’s audience as Nielsen measures more of what is really happening with radio consumers. Mike Hulvey articulates best what matters most. “Radio will now be getting more credit with more impressions to a highly connected audience.”
When we consider the time requirement of streaming and social media platforms, it is often only seconds rather than minutes. This proves that radio is still undervalued, but this new Nielsen 3-minute qualifier is certainly better than it has been in the past. When we can show the data to our agencies and advertisers, we will be able to tell the story under the banner and auspices of all media companies using “One Voice.”
Caroline Beasley, CEO of Beasley Media Group, states, “It’s more important for the radio industry to speak with one voice because we’re not just competing with each other any longer. We learned at CES that 70% of ad dollars are spent on digital with Big Tech and the four major players getting half of that.” The goal of course is to increase radio’s share based on this new 3-minute Nielsen qualifier.
There were at least 1,000 people watching the webinar on Wednesday, January 29. If you missed it, I strongly recommend visiting RAB.com/onevoice to discover the new resources offered to help everyone from PPM, diary, or even unrated markets. You’ll find the recorded webinar there. To quote the RAB, “The time is NOW for brands to rethink their media mix to move more investment to America’s #1 reach, high-return medium.
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Bob Lawrence writes weekly columns on radio leadership and business. He most recently served as market manager for MacDonald Broadcasting in Saginaw, Michigan. Throughout his career, Bob has held virtually every position in the business over his 40+ year career, from being on-air in Philadelphia, San Diego, and San Francisco to programming legendary stations including KHTR St. Louis, KITS Hot Hits and KIOI (K101) San Francisco to serving as the head of all programming for Saga Communications and working for the Radio Advertising Bureau. Before landing his current role, Bob helped lead Seven Mountains Media’s cluster in Parkersburg, WV/Marietta, OH. He can be reached by email at BGLawrence@me.com.
Bob also honed his research skills over ten years as Senior VP of Operations at Broadcast Architecture, eventually launching his own research company and serving as President/CEO of Pinnacle Media Worldwide for 15 years. Bob spent five years as VP of Programming for Saga Communications before joining New South Radio in Jackson, Mississippi as GM/Market Manager. Prior to joining Seven Mountains Media, Bob served as General Manager for the Radio Advertising Bureau, overseeing its “National Radio Talent System”.
