From Inside Radio:
Zenith predicts Internet advertising will overtake radio within three years. The web should top outdoor advertising in 2007 — with radio its next target. ZenithOptimedia Worldwide CEO Steve King predicts that radio will see its total share of the ad pie fall from 8.6% this year to 8% in 2008. While Internet spending is growing at a phenomenal 28% per year. It’s taken just eleven years for the Internet to overtake two long-established media — cinema and outdoor. And King says by 2009 it will be larger than radio — when the Internet’s share of total U.S. ad spending will hit 8.6%.
What this paragraph misses is that “Internet” and “radio” are not mutually exclusive industries. Every radio station has an on-ramp to the Internet and the advertising revenue it can provide. What’s more, radio has millions of ears that are likewise connected to millions of Internet connections.
It’s a match made in Heaven – and an opportunity, not a threat.