Study Finds Web Radio Listening Up 26%
New York, NY (February 21, 2008) – From The Hollywood Reporter:
…”Time spent listening to online music radio grew 26% in 2007, with the segment logging 4.85 billion listening hours, according to a new report. AccuStream iMedia Research said total listening hours averaged 404.2 million a month last year. That includes time spent on subscription music services Napster, Yahoo Music and Rhapsody.
AOL’s Shoutcast was the top radio destination with 48.4% of the listening audience, followed by Clear Channel Online, Yahoo Music, AOL Radio Networks and Pandora. Internet music radio ad billings for audio ads more than tripled in 2007 to $80 million. The segment generated an additional $12 million-$15 million from video ads.
The report, "Net Music Radio 2007-2010: Listening Hour Analysis by Site and Brand," predicts that the segment could grow to $525 million in annual revenue once it fully matures. The report also found that online radio visibility has improved partly based on online efforts by traditional radio companies Clear Channel and Citadel Broadcasting.”
Thanks to Jennifer Netherby for this one.
I don’t do a lot of listening on-line other than WFAN (it doesn’t come in on the radio at the crib), but I can see how it makes sense. I’m sure that number jumps up even more when the phone companies get on board. Funny they mention Pandora in the study, though, I was under the impression they went out of business. I’ll have to dig into that one a little more. Stay tuned… eh heh heh.