A famous quote by David Bohm states, “During the past few decades, modern technology, with radio, TV, air travel and satellites, has woven a network of communication which puts each part of the world into almost instant contact with all the other parts.” This quote rings so true even today. Communication has played one of the most vital roles in human evolution, and its development and has consistently evolved over time. From pigeon carriers to messengers to telegraphs and now radio and internet, we have come a long way.
Radio is one of the most trusted forms of communication in today’s world. It connects us to various parts of the nation and the world. In the new age of the internet, Radio has strived to develop, integrate technology and build trust that continues to make it one of the most preferred forms of communication. It provides listeners with pertinent information about the latest developments, city-related updates, and incessant entertainment. Radio has undeniably established itself as a continually developing medium and has metamorphosed along with the advancement of technology.
DIGITAL PLATFORMS
When it comes to the digital transformation of radio, just like other forms of media, the radio industry has undergone a digital evolution. A plethora of podcasts, digitalized IPs, and social media platforms have made radio accessible to a wider audience. Radio is no longer limited to being an audio streaming platform, but all radio channels now have a presence on social media and have digitized themselves. Radio City was the first FM radio station in the country to introduce an internet radio station eleven years ago. Radio has digitized itself by showcasing content such as interviews on YouTube channel, collaborating with various digital platforms for web radio shows, and promoting new rising talents.
The emergence of technology in the radio industry has created increased opportunities and an added platform for new talent to showcase their skills. Owing to the pandemic-led restrictions as well as lockdowns, RJs utilized the power of social media to build a stronger bond with their audience post their on-air hours. Today, RJs have become credible social media influencers who offer distinct content that resonates with the audience.
ADDITIONAL
REVENUE STREAMS
The convergence of radio and digital coined by Radio City as ‘Radigitalization’ has made it possible for audiences all around the world to access content that is both entertaining and pertinent to their lives. Modern media has unquestionably made communication simpler and increased revenue opportunities for the radio industry. Today, radio players are offering a holistic strategy to the advertisers by amalgamating radio plus digital solutions.
The creator economy is also one of the major contributors to additional revenue streams for the radio industry. RJs who serve as the voice of radio, have a great influence on their listeners and are creating trust by delivering value. RJs are leveraging this influence by collaborating with different digital platforms and becoming brand custodians. This phenomenon provides radio players additional avenues to magnify their brand recognition among audiences as well as advertisers.
INTERNET RADIO
The collaborative power of social media has expanded the radio industry and digitally transformed the platform. Internet radio is gaining increased popularity among the younger generation as it is a great way to listen to music or podcast as per convenience. Internet radio is an excellent answer to geographical barriers. One can be in a remote location but just through an internet connection, can still enjoy the benefits of internet radio. Such shifts in radio can help reinforce higher engagement to the specific targeted audience, which will eventually lead to an increase in listenership. Modern consumers are looking for relevant content on platforms that are easily accessible to them, and the younger generation is digitally inclined. To cater to this audience, the radio industry is focused on integrating technology into its content and brand.
In recent years, new technologies have showcased the promise of extending the scope of radio audience reach and broadening the range of programming options available on the medium. Digital and social media platforms are revolutionizing the existing broadcast paradigm by developing a cohesive and collaborative entertainment ecosystem. Owing to the technological emergence, radio truly has the potential to become a kind of media that is both inventive and viable!
The author is Chief Creative Officer, Radio City.