Pharmaceutical companies have found a new advertising avenue through network radio, says the latest Cumulus Media/Westwood One Audio Active Group findings.
Pharma now ranks supreme in network radio ad spend. The latest ABX study shows that nearly 3,000 pharma ads on AM/FM radio are 94% as effective as TV ads, but at one-fourth the cost per thousand. This puts to rest the myth that “sight, sound, and motion” advertising is far superior to audio ads.
The Audio Active Group commissioned precision healthcare marketing experts Swoop and Nielsen to develop data-driven targeting for AM/FM radio campaigns. The study found that OTA radio generated significant audiences, with a weekly reach of 83.2% and an average weekly time spent listening of eight hours.
Radio is the reach accelerator for pharma brands. Novartis’ Cosentyx brand could experience a +55% lift in reach with the addition of AM/FM. In addition, radio generates massive growth in campaign reach among light TV viewers. The younger the demo, the larger the reach gains when including traditional radio with TV. With results like these, it is no surprise that pharma companies are gravitating toward it.
