UTV Radio Solutions Rebrands As Radio Landscape Continues To Change
Yesterday UTV Radio Solutions announced its new entity – UrbanMedia – branding themselves a new media solutions provider for the Irish market. This is once again a signal that communications and advertising has changed for good. Any media owner struggling for advertising revenue will quickly tell you they are no longer asked to just provide spot airtime or a press insertion, ‘solutions’ which leverage the broader scope of reader/listener/viewer interaction are now par for the course.
A changed business model for media owners
Teams are spending far more time on brainstorming, developing creative ideas, pitching against other sales houses, creating the actual collateral and increased time on campaign management – if they even win the project. A model all too familiar to media and creative agencies, but that’s a blogpost for another day!
You’ll note the name changes of sales houses of late, do you see the word radio anywhere? Media Central, CommunicorpOne, UrbanMedia and IRS+ all point to the integration of airtime, digital (especially social) and on-street activities that they now regularly combine for advertisers.
Radio is competing within a much broader set
The radio competitive landscape is ever broadening – with other radio stations (e.g. TuneIn), other ways of listening to music (e.g. Spotify) and the general entertainment space (e.g. YouTube, Netflix) giving commuters a much greater variety of distraction via mobile and free wifi. Many stations are producing more and more visual content to ensure they grab a share of eyeballs as well as eardrums!
Getting the proposition right
Each sales house or individual station needs to be clear on its proposition to advertisers – what makes your suite of assets right, sets you apart from the competition. UrbanMedia has leveraged its strength and presence in the main urban centres – with all the main cities covered. RTE 2FM has undergone a rebrand to state its intention in the younger end of the market, finally attempting to give clarity to a schedule that struggled for the last 5-6 years.
More consolidation of sales points
Although too many still exist for a market of this size, consolidation has helped with overhead efficiencies, the leveraging of assets and to fight off the competition. But smaller and niche channels continue to struggle, with Dublin station TXFM announcing that it will come off air by the end of October, mainly due to commercial viability. Expect to see more consolidation across media disciplines in the coming years.
The real win is for advertisers who now have media owners with a broadened view of how to address business objectives and provide exciting and energetic solutions – all at a pretty decent price.
If you want to find out more about the types of integrated solutions that we can bring to your business please talk to your account handler or get in touch with our Invention team led by David Ahlstrom (email@example.com).