I went along to Absolute Radio’s event at Parliament yesterday – Redefining Radio. It was a good event that demonstrated to Absolute’s clients (and other guests) the way that radio (and broader media consumption) is changing.
There was a good line-up of speakers and Absolute have just put up all the videos from the event.
The session that I thought was the most illuminating was the one that explained Absolute’s thinking behind their new signed-in for streaming service. James Wigley goes into quite a bit of detail about how the system works and some of their early results too. I’ve embedded the video below:
The technology behind this kind of service is not insignificant and I imagine the changes needed for traffic management must be huge. However, what it does do is provide new opportunities for advertisers.
As a percentage of listening, streaming (to both to PCs and mobile) is still a very small part of what radio does. In fact it provides about a fifth of the hours that DAB delivers to radio broadcasters. However, that’s still 40m hours a week of listening – an amount that wouldn’t be sniffed at if you were a new entrant in the online music space.
This means that Absolute can start to target some of the money that’s going to Spotify, Last. fm et al by replicating their media formats and then aligning it with a brand that can deliver to a large audience.
It’s so easy for people to think about radio in binary terms and base all decisions on the model we happen to have had for the last 30 years. It’s great that there’s new ‘radio’ products like these that put us into some different games.