Interep Presents 2006 Radio Symposium
Radio 101: Back to the Basics, Off to the Future
- Broadcast Leaders and Ad Execs See Potential Growth Ahead
- Encourage Integration with New Technologies and Internet
June 28th, 2006 - Today Interep (IREP.PK) held its third annual Radio Symposium at Bear Stearns' headquarters in New York City. This year's event, entitled "Radio 101: Back to the Basics, Off to the Future," celebrated radio's 100 years of broadcasting achievement, while asking, "What's next?" for a medium in transition.
Ralph Guild, Chairman and CEO of Interep welcomed the crowd, adding, "As in years past, the emotional impact of radio still continues to touch millions of listeners each day. As we analyze various trends and data points during today's panels, I think it's important that we don't lose sight of the intrinsic power of our medium."
Victor Miller, Sr. Broadcast Research Analyst, Bear Stearns, served as moderator for the event, which was co-sponsored by Bear Stearns. Miller pointed out in his opening remarks that since 2000, each year has held either a business, political, economic, or natural catastrophic event that has caused anomalies in the radio advertising marketplace. He suggested that 2006 - barring any unforeseen circumstances - may be the first "normal" year for radio advertising in some time. He also suggested that there may be a case for a stronger 2nd Half of 2006 based on several factors: political spending; easier comps based on 2nd Half 2005 numbers; passing the one-year mark on Home Depot's move to network radio (May '05); passing the one-year impact of Hurricane Katrina (August '05).
The day-long symposium featured speakers and panel discussions, and included representatives from the broadcasting, advertising agency, research and financial sectors. In a featured one-to-one interview, David Verklin, CEO, Carat Americas, told the audience that radio could benefit from "vulnerability in network television spending. "He added, "TV is vulnerable. New ideas are in the air. There are new delivery systems... this is an incredible time of opportunity (for radio) if we can just keep our wits about us."
During a lunchtime one-to-one interview with Joel Hollander, Chairman and CEO, CBS Radio, Hollander told the crowd that it is incumbent upon the industry to adopt an electronic measurement system. He urged the industry not to let this issue become divisive. Agency execs on the panel entitled, "Radio's Future - An Agency Perspective," expressed similar remarks regarding the value of implementing an electronic measurement system that could produce richer, more precise data.
In a separate presentation, Bob Struble, President and CEO of iBiquity, updated the audience on the roll out of digital radio. Among other points, he said that within the next 2-3 years, in addition to HD radio receivers in homes and cars, PDAs, eTablets, and SmartPhones will be equipped to receive digital radio. He stated, "Not next quarter, probably next year, digital will lead to tons of new growth for the industry."
The final panel of the day, entitled "Radio's New Revenue Streams," focused on the opportunities that new technologies offer radio broadcasters. The Internet was deemed to offer exceptional integration opportunities for radio. Mark Ramsey, President of Hear2.0 and author of the book Fresh Air: Marketing Gurus on Radio, said, "The most important thing that I can say to radio broadcasters today is this: adopt a web strategy," adding, "And by the way, streaming alone is not a web strategy."
Active International, Arbitron, and Media Monitors were also sponsors of the event.
View the detailed agenda of the day's panels.
