weTuneOpportunity Analysis Project Because neither " video killed the radio star" , nor will the Internet.
weTuneFor radio stations, who need to keep track of theiraudience taste and preferences, our feedback service is alisteners digital community that builds value on radiostations existing relation with their audience.Our community implements a closing loop in radio stationstraditional broadcasting model, and helps them gather anaccurate image of their audience using data-miningtechniques.Unlike statistical analysis based on surveys and interviews,our service reflects audience taste more accurately, hasbetter segmentation and returns faster answers.All of that at scalable and cheaper costs.
Value Proposition for Radio StationsGaining better knowledge about actual andtarget radio audience● Research● Segmented advertising
Experiments with Radio Stations● Interview with experienced Programme Directors and Researchers● Surveys targeting international radio stations (waiting for results)CONFIRMED HYPOTHESIS● Radio stations are interested in exploring new research methodologies based on technology to leverage on listeners interaction.
Remarkable answers Radio Stations● Research resources are critical for running our business.● Feedback from listeners changes decisions on the radio business.● Research average yearly expense: EUR 0.50 per listener.● Total expenditure: EUR 500k to 1M in Research yearly (station audience between 1M and 2M listeners per week)● Interaction with listeners is considered very important by stations.● Stations perform weekly music tests by telephone.● 60% of audience use online streaming.● Explored online alternative satisfactorily, expected 50% cost reduction.● Real time TSL (Time Spent Listening) updates would change how we run our business!● Segmented targeting would increase revenues from advertising.● Radio is not using current technology for segmentation of advertising.
Value Proposition for ListenersConvenient feedback for interacting with radiostations and with other listeners● Participating by closing broadcast loop● Influencing on-air content● Having a community feeling● Internet technology enables new channels
Experiments with Listeners● Surveys targeting international radio audience (50 results)CONFIRMED HYPOTHESIS:● Listeners would like to influence stations by interactive means.● More than 50% use internet technology for listening to radio.SO-SO HYPOTHESIS:● Listeners community feeling
Remarkable answers Listeners● Large group listening radio while driving.● Listeners value music and public service information most.● 60% visited station website and listened through online streaming.● 60% used their smartphone for listening to radio content.● All online listeners multitask while listening to radio (email, news, browsing internet, social networks...).● 50% do not show interest on interacting with other listeners.
Remarkable answers Listeners● 35% actively participate on radio (contests, requests...)● 50% showed interest in participating if it would be easier.● 70% showed interest in sharing audio content with other people.● 80% showed interest in rating music, provided it influenced stations playlist selection.
Value Proposition for BrandsSegment audience for targeted advertising
Experiments with Brands● Interviews to stations and specific section on survey for advertisers.● Pending interviews directly to advertisers.CONFIRMED HYPOTHESIS:● Radio stations would increase advertising revenues if targeting segments of audiencePENDING FOR TESTING:● Brands would like feedback on radio ads.
Remarkable answers Brands● Advertisers choose radio as advertising method because of its higher customer penetration, loyalty and flexibility.● Main advertisers complaint: Lack of return/feedback on advertising.● Segmented targeting would benefit radio revenues.● Radio is not using current technology for advertising segmentation.
Conclusions● Enough evidence to pursue idea and search for a viable business model.● Will go through further iterations on opportunity analysis in search of minimum viable product.