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Media Forum: Can radio rise to ad challenge?
Are the ambitious targets set by the RadioCentre achievable, Alasdair Reid asks.
The honeymoon period is over. Not that Andrew Harrison, who took up his role as the chief executive of the RadioCentre back in October, has had much of a honeymoon.
Morale in the commercial radio industry has not been sky high of late Advertising recession, a reinvigorated BBC and the bungled merger of Capital Radio and GWR stopped the medium dead in its tracks - Harrison has inherited a daunting task as he aims to get the medium moving once more.
The RadioCentre is an umbrella organisation that now oversees what were previously two distinct roles - the corporate and political lobbying functions undertaken by the Commercial Radio Companies Association on the one hand, and the marketing function of the Radio Advertising Bureau on the other. In theory, bringing the two sides together under the guidance of a single chief executive will enable the medium to fight its corner more effectively.
But the industry has been impatient to see if the reality can live up to expectations. So, last week's speech, delivered by Harrison at the inaugural RadioActive conference, lays down some important markers. In particular, he set two ambitious targets. First, revenues: over the next three years, he would like to see the medium's share of display ad revenue rise from 6.1 per cent to 7 per cent. In absolute terms, that will probably mean leaping from pounds 600 million to more than pounds 700 million. The driver, he argues, will be audience - and here, he says, history is on radio's side.
When people access the medium via digital platforms, commercial audience share is higher than is achieved through analogue reception Furthermore, radio is the only medium that dovetails with internet usage. After all, you can't watch TV or read newspapers while you're surfing. So, here's target number two: achieve audience parity with the BBC as soon as possible.
Should the advertising industry be encouraged by what it heard? Are these the right, and achievable, targets?
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