Monetisation in radio is normally achieved by selling four core areas of inventory:
- 12 minutes of advertising spots per hour
- radio show and feature sponsorships
- website display banners
- live event hosting
All of the above have been very successful for many years but do not smoothly monetise interactivity without a high sales team presence.
At OiDar we are recording a new way of obtaining accurate audience data and with that information, we are able to provide key information directly to agencies regarding demographics, interactivity and reach on an hour by hour or break by break basis.
The old way of radio monetisation
During our research we understood that radio broadcasters were subscribing for audience data to enable them to trade via several key agencies for national advertising campaigns and, in the process, investing in additional people and software to carry out this development. We understood that if OiDar's audience measurement system was going to be implemented quickly, we would need to provide alternative non-exclusive national advertising suppliers with agencies that were already up to speed with the additional measurement schema.
Well, we have managed to go one step further than merely providing a few national ads per day and have negotiated several deals that will see the opportunity for most radio stations to fill 100% of their spot advertising inventory every week. Here at OiDar we will be able to sell all unsold spots via an automated programmatic bidding platform, although these would be at low rates we would guarantee that a minimum rate would be agreed with each station to suit their business model.
We will be able to provide a 100% fill of advertising to all clients that opt into the OiDar audience measurement pool and there is no requirement to have any form of exclusivity.
We are complimenting our monetisation service by additionally launching five other key monetisation services for any local radio station:
- 100% inventory fill on website display banner advertising for up to 8 different banner sizes.
- Live audio stream programmatic start-up advertising for Amazon Alexa, mobile and PC listening providing an additional £30,000 per year.
- An automated full HD studio video webcam stream with news and information ticker bars but more importantly all advertising breaks are replaced with fully programmatic high yield video adverts to provide a television experience. With expectations of around £100,000 per year as an additional revenue stream per radio station with no additional work demanded from the local sales team and again a full 100% inventory fill on the video advertising from their national pool of agencies. View it by clicking here
- Fully monetised Video-on-demand solution for delivering offline local videos (local tv), local news, local businesses and behind the scenes footage at the radio station.
- A supply-side platform where each stations inventory will be added to the OiDar advertising e-commerce solution where advertising spots, sponsorship campaigns and their unique sponsors solution can be purchased without the requirement of “any sales staff”.
All is very exciting for a move forward in national and local monetisation with additional revenue streams which should aid even the smallest of radio stations.