Jelli formally has formally released RadioSpot, its program advertising platform for the broadcast advertising industry that is supposed to streamline buying and airing radio ads.
Since RadioSpot was released in beta in May, 2012, the ad platform has been deployed at some 350 radio stations in a total of 128 cities.
This growth has been achieved through partnerships with radio operators and networks including Townsquare Media, Entercom, Emmis owned WQHT(FM), in New York, Sun Broadcast Group, Focus 360 and others, according to Jelli, which says RadioSpot now reaches 44 million unique listeners weekly and manages approximately four billion radio ads on an annual run-rate basis.
“With almost four trillion radio ads [overall] delivered every year, radio is one of the largest advertising mediums, similar in scale to digital display advertising. However, unlike digital, radio has not seen the same investment in ad-tech innovation to buy, manage and serve these ads,” says Mike Dougherty, Jelli co-founder and chief executive officer.
Dougherty characterizes RadioSpot as a totally new release of Jelli’s platform “that gives radio stations, networks and advertisers the easiest and fastest way to buy and run ads.”
A typical network radio campaign requires trafficking ads across hundreds of individual stations, resulting in a cumbersome accounting process and paper format reports that require planners and buyers to go back months after a campaign is over to evaluate how the ads have driven sales, according to Jelli.
Jelli says it’s created a hassle-free way for marketers to move into programmatic buying with its platform and help unlock new revenue opportunities for the radio industry.
Sun Broadcast Group CEO Jason Bailey says “Jelli brings radio into the 21st century and solves many issues that have held back network radio. RadioSpot allows us to tap into new programmatic ad dollars, which are already a major part of the digital advertising marketplace.”