MUMBAI: Radio is slowly yet steadily penetrating into the new age media, but broadcasters are yet to sketch marketing and monetizing strategy for social media and digital platforms. It is a huge platform but radio broadcasters haven’t come up with any digital strategy to explore this medium. Monetizing is necessary, but it’s necessary to provide innovative content.
This was the key discussion at the session ‘Social Media and Radio’ moderated by Unplugged Marketing founder and innovation artiste Suman Srivastava at India Radio Forum 2012.
The panel commissioned of Lintas Media Group COO Premjeet Sodhi, Colors - Viacom18 CEO Raj Nayak, Euro RSCG managing partner and chief creative officer Satbir Singh and GroupM South-Asia managing partner Tushar Vyas, discussed key points for exploring the new age social media and monetize revenues.
Vyas commenced the session stating that social media is burgeoning and radio has gained popularity on the digital platform as well. “Today 50 per cent of people listen to radio on social media. Radio is much larger than social media but it’s still more about bollywood, the broadcasters have to come up with innovative content,” he said.
Pointing out the growth of radio and its successful integration with social media, Sodhi said, “Social media is looking forward and growing in tremendous pace. Radio has once again been challenged with the new medium; the broadcasters should make most out of social media rather than taking it as a threat.”
Big FM’s RJ Ankit from the audience glided his perspective on the entire issue. “Radio is 10 year old industry and it’s necessary that its leaders should take an initiative to explore this medium. Social media is a dialogue rather than monologue. The deal to be successful is to interact more on this medium as the attention of users/listeners is getting shorter. Radio leaders are scared to explore social media.”
Taking the session further, Nayak stated that radio broadcasters should come up with innovative content as it will play a major role in connecting with social media. “For me the huge change is that people are using radio on their mobile. Today 85 percent listen to radio on mobiles while 14 per cent on smartphones. One should look forward to combine social media and radio. The content plays a very important role. Even the content on twitter should be innovative,” he asserted.
Agreeing with Nayak, Sodhi said, “ The integration of radio and social media will certainly make it richer but content plays a greater role as listeners look forward to listen to different content in terms of songs, RJ speak etc. But where monetization is concerned, it won’t be happening soon.”
RJ Rohini who was compere for the day stressed on getting new listeners than the existing ones. “There is a huge crowd who avoids listening to radio but follow the radio show’s happening on twitter and face book. I would like to attract those listeners rather than counting on my existing listeners,” she shared.
The panel did not come to a new conclusion or discussed something that was out of the box. Innovation for years has been a snag for the industry. The panel stated it is necessary to keep in mind the way we deal with the tool. Marketing and monetizing is necessary but the content plays a major role  in social media integration.