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Internet killed the radio star?

Posted by Michael Bloch in online world (Friday August 18, 2006 )

“Video killed the radio star” was a popular song from 1979 by the British group The Buggles. Well, traditional radio is still alive but suffering a secondary blow courtesy of the Internet – and it’s certainly not the only medium suffering.

A report recently released by the Office of Communications in the UK has some interesting stats on the demise of traditionally delivered TV and radio in that country and how marketers are responding.

OfCom reports that online advertising revenue at the end of 2005 was almost triple that of radio advertising revenue and a third of television ad revenue.

The biggest shifts in the way that media is consumed is most apparent with the 16-24 age bracket.

This group reported watchi ng television a full hour *less* a day than the average TV viewer.I know in my own family that while television consumption remains relatively static, free-to-air consumption is way down as my family has fallen in love with our recently acquired satellite pay TV. But if it came down to it and they had to choose between TV and the Internet; the latter would be probably be the winner.

UK 16 – 24 year olds also reported listening to 15 minutes a day less of radio compared to the entire population and 27% of survey respondents stated that they also read newspapers less.

Those figures were in relation to the period 2001 to 2005; so I guess there would be an even more pronounced drop in consumption given we’re now 8 months into 2006.

It’s a difficult time for “traditional” media networks because in order to meet the challenges of the current age, they are required to deliver their broadcasts not only via their traditional medium, but there’s also the pressure to deliver increasing amounts of programming via the web.

One thing’s for sure, if I were an advertising executive with a network that wasn’t seriously investigating and implementing new media strategies on a grand scale, I’d be looking to jump ship very, very soon.

Read more of the OfCom report


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