This is the advent of change for the radio advertising buying experience. Within weeks, the radio industry will begin embracing a process of posting similar to that used by television and Internet advertising portals, which give advertisers assurance of audience levels and reconciles shortcomings when they occur. In fact, as previously reported, CBS Radio is currently on a three-city tour unveiling its posting plans.Clear Channel Radio president John Hogan is being credited by RAB president Jeff Haley for his driving the idea, but Haley quickly adds that all the major groups such as Citadel, Cumulus, Greater Media, Entercom and CBS have immediately jumped on board to craft a process that will give the advertising community the security in knowing that radio is standing behind what it sells, Haley tells R&R in an exclusive interview on Tuesday (April 29)
"Radio is playing a little bit of catch up with the rest of the world," says Haley about guaranteeing audience levels to advertisers. "Our measurement has not been as precise or timely," as some other industries and advertisers have long sought more assurances from radio operators. Posting, or "reconciling and standing by what you sold -- make goods with a set of margins for errors," makes radio advertising more attractive to advertisers who need more assurances that they are getting what they bargained for.
Haley, along with Katz Media's chief Stu Olds and Interep boss David Kennedy, has been meeting with radio executives for several months to refine their "cohesive" one-voice message. Haley says he and Olds and Kennedy will unveil their plan to the industry on May 12 and that it will be put to a vote by the industry May 21 during the RAB's annual spring board meeting, this year being held in Los Angeles in conjunction with the annual Radio Mercury Awards at the Beverly Hilton Hotel.
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