Radioplayer is gathering data from the many radio stations that are using it as it expands from its original home in the UK, through Europe and worldwide.
At the Media2020 Conference in Kazakhstan this week, Steve Ahern caught up with Lawrence Galkoff, General Manager of Radioplayer Worldwide to discuss the benefits that big data can bring to radio stations.
“Big data can bring big money for broadcasters,” said Galkoff.
Instream advertising on radio has become more valuable than on other platforms because people don’t consume it like advertising on a website or before a video clip on Youtube.
When people click on a radio stream they are committed to listening, so they are comfortable with the ads, according to the data.
If there is a pre-roll before they join the stream, the data gathered by Radioplayer shows that many people will listen or watch it right through, because they know they will join the radio stream after it. Unlike a video on Youtube, which is often short and encourages viewers to skip the ad, radio stream listeners tend not to skip the ad as long as it is not too long because they are expecting the audio to begin immediately aferwards.
Pre-roll ads generate the highest income for broadcasters, according to Galkoff.
Instagram ads generally make up to $5 per thousand clicks for the broadcaster. Facebooks ads make up to $7 per thousand clicks.
Radio ads make much more, up to $25 per thousand clicks. If your audience is small, it is probably not very much, but with Radioplayer audiences in the millions the revenue is beginning to become significant.
Another beneficial element of the big data being generated in Radioplayer is the almost real-time ability to track audience ebb and flow.
Stats gathered by Radioplayer confirm traditional listening patterns, such as that peak listening is in the morning, but they also confirm that good programming and big event listening will create an audience spike in any timeslot. For example, sports listening has peaked at 4 times its usual evening listening audience during the recent world cup matches each evening.
“Don’t under-estimate your value, radio is a premium product, use the data to make sure you get what you are worth from your online advertising,” says Galkoff.
View the whole interview below.
Radioplayer is achieving success driving growth in UK smartphone and tablet listening, especially with the 15-24 year old market, according to Rajar data.
Radioplayer’s mission is to grow radio on connected devices. “It is not a central aggregation website or app and it is not imposing a particular commercial model, it is owned by broadcasters and is focussed on enhancing the user experience,” says Galkoff.