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Your Comments on Monday's Bill Koenigsberg Story
1-30-2012
Bill Koenigsberg is the President, CEO and Founder of Horizon Media, one of the largest independent media agencies in the world. With offices in New York, Los Angeles, San Diego and Amsterdam Horizon has 650 employees and annual billings of $3 billion. Koenigsberg is also Chairman of the 4As Media Committee and has played a vital role in getting advertising agencies to adopt policies to abolish the No Urban/No Hispanic dictates the media industry has been dealing with for so many years. Advertising Age Magazine just named Koenigsberg Advertising Executive of the Year and this past Friday we spoke to Koenigsberg to get his take on radio.
For so many years, despite all the radio friendly stats Arbitron throws out stating the number of radios per household, the percentage of people who listen to radio and consumers listen through long stopsets none of those statistics have helped radio increase (as an industry) its revenue share with advertisers. For what seems like decades, radio has only been able to muster up about 7% of an advertiser's budget. So we asked Koenigsberg what it was going to take for radio to increase that number. Not surprisingly, his answer had nothing to do with the typical radio research which, to an advertiser, really means nothing.
"I think multiple things. One is, and I have been very vocal about this, proving cause and effect, return on investment...is the golden goose, the holy grail. Radio needs to do a better job of proving attribution, if I spend a dollar in radio, my return is "X" vs. a dollar somewhere else. That's one. Two, and I think that Bob Pittman is trying very hard to reinvent radio at Clear Channel. I think radio has become a bit static and needs to reinvent itself. Now, how it reinvents itself, I'm not quite sure. Radio has got to become more of an engagement vehicle. Engagement is critical for advertisers today. A lot of people listen to radio in the background and it's not intrusive, and it's not engaging. It is more passive. How do you make radio more engaging? So, I think return of investment proof and engagement proof is critical. If you can prove that, they will be buying radio all day long."
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