New information from the Center For Media Research states that "42 Million Americans Listen To Radio Weekly On Digital Audio Platforms". That begs the question: "What needs to happen before my property can make money by Streaming or podcasting?"
Take a look back to what Paul White had to say about websites and you realize that to be successful you must create a new profit stream by creating a new business model, by doing your research, finding a hole that exists, and putting all of you best efforts forward.
Here are the statistics on what this segment has developed into....
"The weekly online radio audience increased significantly in the past year to 17% of the U.S. population age 12 and older; up from 13% in 2008. On a weekly basis, online radio reaches 20% of 25-to-54 year-olds; up from 15% in 2008.
Bill Rose, senior vice president of marketing, Arbitron Inc., says "The sharp growth in weekly usage of Online radio... provides compelling evidence that radio's digital platforms may be reaching critical mass. We are... seeing encoded streams of AM/FM broadcasts with significant audience in local markets."
Key findings from The Infinite Dial 2009: Radio's Digital Platforms, include:
More than one in five radio listeners (21%) say AM/FM radio has a big impact on their lives; ranking second only to owners of the Apple iPhone in particular (23%) and cell phone owners in general (47%) as the audio platform/device that has a big impact on people's lives.
Online radio listeners are more likely to be upscale, well-educated and employed full time;
- 54% of weekly online radio listeners are employed full-time (compared to 43% among persons 12 and older);
- 16% of weekly online radio listeners live in homes with an annual income greater than $100,000 (vs. 10% among persons 12 and older);
- 37% of weekly online radio listeners have a college degree or higher education level (vs. 29% among persons 12 and older)."
I think that right now properties are trying to keep sales up on transmitter radio stations without the extra burdon of selling another property that they develop online or on HD. But what happens if we don't invest or diversify our offerings to the public. Do we become what newspaper has become?