Convergence of Radio and Digital will build powerful reach

By Kartik Kalla, Chief Creative Officer, Radio City

Radio as a medium has been a powerful tool for communication and entertainment in India for decades now. During the pandemic, all industries took a hit including radio, despite its relevance as being one of the most credible mediums for disseminating important information and offering one of the strongest ROI for last-mile advertising. Fortunately, the industry has evolved since then to become the platform that drives technological development in the broadcast industry. It has been successful in offering data and tech-focused solutions through the integration of radio and digital solutions -- giving rise to the term ‘Radigitalization’.

The FM radio industry has expanded its horizon by incorporating digital products and services, such as partnerships with music streaming applications, harping on podcasts, video interviews, RJs becoming social media influencers. The idea is to stay tuned in with the digital revolution. The radio industry’s reach has expanded due to this integration of technological advancements. To interact with new multimedia platforms by enhancing its existing IPs, radio has been creating on-air plus digital solutions to cater to a larger set of audience across the country. Radio as a medium will continue to boom as one of most sought after platform for infotainment owing to its radio with digital feature.

During the pandemic, the radio industry was in a great position to reach remote and inaccessible areas to help the small businesses that took a significant hit. Indeed, the radio industry has been serving as a strong voice for small and medium enterprises, helping these companies build their brand perception and reach a larger audience. Through the launch Radio City Bazaar, the organization promoted as well as supported existing and emerging homegrown companies in sustaining their business during the pandemic. Besides that, the radio industry was also able to offer support to COVID patients and their families through timely updates and on-ground support.

According to a report by FICCI & EY, the Indian advertising sector is growing at a compounded annual growth rate of 12% to reach Rs. 1 trillion in revenue by 2024. The convergence of radio and digital technologies has resulted in a powerful combination that can potentially reach a vast audience not only in metro cities but also from hinterlands. According to recent statistics, radio remains a popular medium with over 92% of the US population who tune in at least once per week. At the same time, digital platforms have seen explosive growth in recent years, with over 4.9 billion active internet users worldwide, and the number of social media users expected to reach 4.41 billion by 2025. By combining the strengths of these two mediums, the reach and impact of media campaigns can be greatly amplified. Digital platforms provide a wealth of data on audience behavior and preferences, allowing advertisers to deliver targeted and personalized messages. Meanwhile, radio offers a reliable and familiar platform for delivering brand messages and reaching audiences through a personalized and hyper-localized approach.

The convergence of radio and digital technologies is already being seen in the growth of podcasting, which has seen a 29.5% increase in listenership since 2018. Podcasting allows radio broadcasters to extend their reach beyond traditional FM/AM channels and into the digital space, while also providing a platform for new voices and independent creators to build audiences.

Overall, the amalgamation of radio and digital technologies has created a powerful combination that can deliver targeted, personalized messages to a vast audience, while also providing new opportunities for innovation and growth in the media industry.

Radio continues to be one of the most preferred modes of advertisement, especially due to its strong ROI capability and targeted messaging. The sector has also been harnessing the power of its listenership, social media influence and digital tools to strengthen trust among its audiences. The ad volumes in the radio sector have been growing exponentially. The radio sector has also been focused on catering to its local audience by out hyperlocal content. Radio's ability to target specific demographics and geographic regions, with the use of different channels and customised content, makes it an effective tool for advertisers. By utilizing the power of the radio industry and its digital reach, brands can create more effective and efficient marketing campaigns that reach their audiences and create a desirable perception of the brand.

Throughout radio's century of existence, there have been major changes to the media landscape which has allowed the radio industry to continue thriving. It is a powerful medium with its own particular appeal. Radio's interface with the digital sphere is primed for a lucrative period due to the recent expansion of digital media and will continue to augment the growth of the industry in the future!