Internet radio has become increasingly popular over the last few years because it allows listeners a customized listening experience. With local radio stations there is very little control over the genre and frequency of music played. Internet radio services, offered by companies like Pandora, allow for a more targeted approach for advertisers, often allowing advertisers to target by age, geography and interests. The listeners may enjoy a more interactive experience, taking into account musical preferences. With the success of this form of media, internet radio advertising is becoming an increasing popular marketing platform.
Recent studies suggest an Internet radio audience of 70 million listeners per month. This leads to an estimated 300 million hours of ad supported streaming material, with that number projected to rise to 400 million by the year 2012. Investing in Internet radio advertising opportunities at this stage could mean big growth in the future. Revenue studies show profits reaching $351 million in 2011, growing to an awe inspiring $1.64 billion over the next ten years. These numbers should not be ignored when exploring advertising options.
Recently, the Radio Advertising Bureau (RAB) took a poll to test the efficiency of this type of marketing and came up with some incredible results. They found that Internet radio advertising increased web traffic up to 52%. This is a significant increase, which could be even more significant when mixed with other forms of Internet marketing. It is also possible to focus advertisements more effectively through Internet radio, as different streaming channels will attract different types of listeners. Target markets based on musical tastes and talk show audience polls with this blossoming form of advertising.
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