Earlier this week it was announced that Marketron, the software company used by thousands of radio stations was sold to private equity firm Diversis Capital. The company named Michael Collins (pictured) as its new CEO, replacing Jeff Haley. What does the sale mean for your station if you use any of Marketron’s products? Let’s find out from the new CEO.
Radio Ink: What should the radio industry know about Michael Collins?
Michael Collins: My entire career has focused on bringing technology to media companies to help them grow. That experience, along with the great team that is already in place at Marketron, should enable us to expand our leadership position.
Like any CEO, my number goal one is, of course, provide increasing value to the shareholders. More specifically to Marketron, the goal is to evolve and modernize our software so we can increase our rate of innovation. We are also looking at increasing the parts of the supply chain that our software currently addresses.
Radio Ink: What does the sale of Marketron mean for the radio industry?
Michael Collins: The sale isn’t the big news, rather the new owner’s commitment to invest in the company and our products. With more resources available to the company, the amount of innovation we can bring to the industry will significantly increase.
Radio Ink: Why did Diversis purchase Marketron?
Michael Collins: The company is currently in a solid position with a strong team, dominant market share, and healthy balance sheet. By adding additional financial resources to the company, we are very confident that we can see significant growth in our core business, plus new areas like digital and programmatic.
Radio Ink: You mentioned “evolve our product offerings” in the press release. Should radio expect to see some new products?
Michael Collins: Both new products and evolved versions of our existing products should be anticipated this year. Immediate focus will be on better integration of our digital products, improved data access and streamlined user experience. Multiple additional areas will also be addressed after we gather feedback from our clients on their needs.
Radio Ink: How is programmatic buying doing so far and how do you see that progressing in the future, specifically to radio?
Michael Collins: While programmatic is quickly becoming the dominant form of media buying in other channels, it is still nascent in broadcast audio. However, the same forces that are driving the growth of programmatic in other channels – efficiency, transparency, increased ROI -– will eventually come to radio. The radio industry still has some infrastructure issues to solve before programmatic can take off, most significantly automation, but investment in this area will be well justified by bringing new ad spend to broadcast audio.