Programmatic advertising for radio is on track to be an important trend again in 2016.
Technology company Jelli says it has introduced SpotPlan for Advertisers, a new programmatic offering which the company describes in a release as the “first demand-side platform for broadcast radio advertising.”
“Jelli’s mission is to create the fastest and easiest way to buy radio ads, and with this first-of-its-kind demand-side platform we can now accelerate radio buying to the speed of digital through self-service, data-enhanced audience buying models,” said Jelli CEO and co-founder Mike Dougherty in the release. (Read about his thoughts on programmatic’s role in radio’s future here.)
Jelli developed the cloud-based technology platform in order to enable both advertisers and agencies to buy radio advertising in real-time on a self-service, automated basis. Users of SpotPlan for Advertisers will eliminate some of the steps and delays of the traditional (manual) request for proposal model and utilize audience targeting and real-time reporting, according to Jelli.
The new advertiser-centric platform provides access to iHeartMedia’s Private Network and Expressway from Katz (both of which signed on to use Jelli’s technology in April of last year), as well as other ad buying platforms.
“Radio is emerging as an exciting new area for programmatic advertising, combining the inherent reach of the medium with self-service demand-side technology, advanced data integration and large scale automated guaranteed and private exchanges,” market analysis company IDC’s Program Vice President of Media & Entertainment Karsten Weide. “The use of programmatic continues to grow rapidly across the media landscape, as marketers tap the benefits of automation and efficiencies to achieve higher ROI on their media spend.”
According to the release, analysts at IDC predict that programmatic advertising is on target to hit $19.7 billion globally in 2016 and is growing at 23% annually and forecast that “automated guaranteed” and “private networks” will be the fastest growth segments for programmatic, projected to expand by 37% in 2016 and 47% in 2017.
SpotPlan for Advertisers is currently only available to Early Access Partners, but a general relasee is targeted for later this year. Initial customers include agencies Starcom, Mediavest | Spark, Dentsu Aegis Network, Horizon Media, Havas Media, IPG Mediabrands and Varick Media Management.