NextRadio Could Bring in Hundreds Of Millions Of Dollars
That's the prediction from the Emmis CEO regarding NextRadio. However, that's unlikely to happen unless radio stations across the country upgrade the app and provide the kind of interactivity consumers now get with Internet pure plays like Pandora. And with yesterday's news about mobile revenue growth from the IAB, why wouldn't stations want a piece of that growing pie?
Smulyan says, "This has a chance to be a major new revenue component for the radio industry. By having the interactivity, by having location-based coupons and other services, we could be talking about hundreds of millions of dollars of brand new revenue coming into the American radio industry."
Smulyan says Sprint has called this a "rolling thunder launch." They love the product. The launch is still early. And, to get those advertising dollars, in addition to stations getting interactive, more phones need to be in the hands of the consumer. Smulyan says when they see it, they love it, adding that one year after launch, 10 million phones will be in circulation. The goal is 300 million. "This is a daunting task. We start at zero and we want to march toward 300 million phones. The advertising componenet won't start for a while. We need to get enough phones in circulation."
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