Viewing radio on any screen you please
Innovation in any field has always been understood to mean something new replacing something old. Well, it ain’t necessarily so. A new version of radio, the granddaddy of electronic media, has been scoring some amazing metrics recently.
Whether music or talk, FM or digital, broadcast radio (over-the-air and online audio combined) represents what many observers describe as a full-blown innovation. Mind you it has little in common with the original radio that turned on in the 20th century.
While linear TV’s US market share was down 20% between 2015 and 2023, Share of Ear for on-demand broadcast radio was up the same percentage according to Edison Research. Even more surprising, PwC research pegged broadcast radio advertising and subscription revenues growing at an annual compound rate of 1.2% from 2022 to 2027.
In short, while the various forms of listening to audio are now in a dead heat, linear radio, whether on AM/FM or by subscription, still has a lot to say.
Turn the video on
More and more radio producers are also broadcasting programming in video format, giving linear content a new outlet, and a second life for asynchronous viewing.
A 2022 Edison Research report indicated a steep rise in the number of people consuming radio in video format “at least once a month,” up from 35% in 2020 to 47% in 2022.
Radio broadcasters around the world, including NRJ and Fun Radio in France, BBC Radio 1 in the UK, and Sirius XM in the US, are also making video versions available, either on their own sites, or directly on video-on-demand platforms like YouTube. In South Korea, visual radio is closely linked to the K-Pop industry, where groups such as BTS, TWICE, and NCT develop content that highlights radio call letters while broadcasting linked visuals.
In the case of Night Night, hosted by singer Jaehyun daily on NCT, the visual format is combined with various interactive channels so listeners can comment, ask questions, and make requests.
While some radio stations do opt for low-cost versions using a webcam for broadcasting on Twitch, others have made major investments in their own studios on equipment and technology for capturing, editing, hosting, and broadcasting.
This can also require specific technical staff, including directors, video editors, and specialized video broadcast technicians, skills not normally found on radio staff.
Two Canadian experts consulted for this article estimated hardware investments ranging from $10,000 to $150,000 for a studio set-up, not including salaries and other related variable costs such as hosting and bandwidth.
Video also appeals to a wider audience not generally attracted to FM or podcasts, like those preferring YouTube and Facebook, potentially adding some tempting monetization opportunities. According to Thinkific, YouTube pays creators between $5 to $7 per 1000 views. Based on an average $6 per, it would take 25 million views to recoup an investment of $150,000.
Not exactly the multimedia or transmedia of yesterday
Working in multimedia and transmedia had become increasingly popular strategies for creators in all genres since the publication of Convergence Culture in 2006. From fragmented storytelling to active audience participation, media immersion, and complementarity, this collision between the old and the new inspired the CMF to develop its convergent stream in 2010 to the benefit of many in Canada’s audiovisual community.
The extended spectrum of radio broadcasting differs from such transmedia trends in that the emphasis remains predominantly on audio content with visual radio operating as a mere third party, with no distortion to the original content.
The narrative structure is not altered by involving different media as well. It remains linear and centered on the audio according to radio’s well-established modus operandi. In such video recording of the spoken word, everything happens as if the viewer were invited in on a conversation, a debate, an interview, or an investigation.
While there’s a wide range of approaches, it’s not unusual to see the host break the fourth wall at the start of a segment, only then to completely ignore the presence of cameras in the studio. A notable exception is the use of comment modules that allow written interaction with listeners during live broadcasts via Twitch, YouTube, Facebook Live, or Discord as in the South Korean example above.
Radio’s new lease on life
For the many who think that radio looks and sounds like media from another century, the growing interest in audio content, both linear and on-demand, is a real surprise. And those who agreed with Larry Miller’s 2017 prediction that radio would be dead in ten years should definitely think again.
The fact is radio has been given a new lease on life thanks to a series of strategies, including a shift to video format, that expand its boundaries exponentially and fully integrate radio as a competitive player in the digital age.
With this steadily growing audience for audio content, radio is finding new and more lucrative ways to monetize its product. Although the cost-benefit analysis may indicate many risks, broadcasting in the direction where the audience lives is facilitated by today’s panoply of platforms that encourage rich, engaging interactions with audiences beyond the FM band or in podcasts.
When all is said and done, no one can deny that radio managers are proof of the axiom that necessity is the mother of invention … and innovation. Despite sluggish growth in advertising revenues and mounting competition, radio is not only surviving, it’s thriving in its new aerospace.
This new melding of tradition and innovation is not the first nor the last example of mixing media to unleash new forms of creative content ... all for the benefit of reaching and pleasing an ever-expanding audience.
