4-25-14
Clear Channel CFO Richard Bressler says Nielsen has "cracked the code," regarding the challenge radio faces proving Return on Investment. And, Nielsen will be hosting a meeting next week in the New York City Clear Channel offices to share more data with executives from several radio companies. Bressler said yesterday the information in Nielsen's Catalina Solutions study has uncovered definitive proof of radio's value. "Nielsen proved beyond a shadow of a doubt that radio over-delivers." In one example, Bressler said the return for every $1 spent was $6 in return. Since Bob Pittman arrived, Clear Channel has been all about generating more data about how radio works to help boost radio revenue with advertising agencies and big national clients.
And in our recent cover story interview with Nielsen's Farshad Family (which you can read HERE), Return on Investment for Radio was a big topic. Family explained the proof of concept Nielsen did that linked the audio data with credit card transactions. "The proof of concept focused on categories like quick service restaurants or movies or retail ? essentially anywhere you could use your credit card. What we are able to show is, people who listen to a certain format, what kind of behavior they exhibit when it comes to going to the movies or when it comes to spending money at quick service restaurants. We were able to highlight which formats deliver audiences that spend more money at the movies compared to another. Our data is granular enough that we can drill down to station-level information and look at it from that perspective."
Family said Nielsen was eager to get this information out to clients for feedback. "We will be looking to productize it so they will have regular access to it on an ongoing basis. We want to give them the ability to slice and dice the information, because obviously every company, every radio station, will want to develop their own ad sales strategies and attack different categories. We really need to provide a product that has enough scale and flexibility to serve our various clients."
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