The commercial radio industry has announced it is moving forward to phase two of an industry-wide project to automate and simplify the buying of radio.
Phase one has resulted in the roll out of the AudioNET automated holding software RadioMATRIX. The industry-wide system, live since October 2017 and paperless since July 2018, is now used by 131 advertising agencies and 380 radio stations.
The sophisticated software allows agencies to interact with a radio stations’ traffic management system electronically and without the burden of a previously excessive paper trail.
Driving take up within the industry is the double confirmation security strategy that ensures advertisers are correctly and securely linked to agencies.
Speaking at the Radio Alive 2018 conference today in Melbourne, NOVA Entertainment CEO and inaugural chair of Commercial Radio Australia’s Automation & Programmatic Committee, Cathy O’Connor, said the industry was “extremely pleased” with progress to date and the on-time rollout of phase one.
“The board of Commercial Radio Australia (CRA) has now approved extending the partnership with AudioNET to move forward with phase two of the project,” she said.
“By this time next year, the industry will have three additional modules: mini holdings, direct and electronic bookings.
“Also, by this time next year, we expect to be talking to agencies about programmatic trading trials to collaboratively explore the most effective way of trading not only broadcast, but digital and podcast inventory.”
AudioNET will continue to work collaboratively with radio stations, agencies and large direct clients to build on the RadioMATRIX platform and further streamline the radio buying process.
AudioNET chief executive Dave Cox said: “We’re thrilled to be moving forward in partnership with the commercial radio industry. This is definitely a world first for radio.
Feedback on phase one has been positive, highlighting improved security for station, advertiser and agency data and a significant reduction in double handling for agency staff.”
“Over the next 12 months, phase two will introduce an electronic bookings module for agencies and large direct clients. At the completion of phase two, the industry will be ready for the development and testing with agencies of a live e-trading platform.”