In order to sustain spot radio's annual growth rate and overcome the weak ad environment in the first two quarters, national reps must bill $1.6 billion in the second half, according to estimates from Interep, whose bookings were from 10% to 20% for the first two quarters.
The $1.5 million effort includes an aggressive new-business initiative consisting of presentations about the effectiveness of radio to more than 1,500 advertisers and agencies; a donation of $200,000 to Arbitron's proposed Radio Effectiveness Lab to measure the impact of radio advertising; funding to the Radio Advertising Bureau and radio broadcasters; and sponsored events to raise radio's visibility.
Interep aims to help the radio industry grow 8% in 2002 through this effort, similar to its marketing push in 1992 called "Radio 2000," which helped boost radio's share of advertising from 6.5% to 8.0% in eight yeras. -- Cara Beardi
Copyright April 2001, Crain Communications Inc.