Six-in-ten ad buyers say they’re more interested in streaming radio than they were a year ago. That’s according to a new survey by STRATA among agencies that use its media buying software. The growing interest in online radio comes as the survey shows just 8% said they’re more excited about over-the-air radio ads than they were last year.
That’s the lowest figure in the 20 quarters that STRATA has been conducting its surveys. The high point was coming out of the recession — in late-2010 nearly one-in-four agency buyers said they were giving radio a fresh look. Of course dollars and interest are two very different things, with streaming still netting just a fraction of what FM/AM radio bills in a year. “In the advertising industry, the buzz often comes before the pay off,” notes STRATA EVP Joy Baer.
The latest survey shows radio still ranks third behind TV (51%) and digital (35%) for which medium agency clients are most interested in. Just 6% of buyers said radio — the lowest since early 2009. STRATA based its results on a sample of 75 agency media directors and agency executives. It’s not just web radio that’s capturing more interest.
The survey shows web video and social media are not surprisingly brighter features on buyers’ radar. Meanwhile ad agencies are less worried about clients cutting media budgets. It was previously cited as a top concern, but budget cuts have dropped dramatically, with only 8% of agencies calling it their biggest challenge.