Radio buying process takes next big step towards paperless operation
Commercial Radio Australia (CRA) today announced that radio holdings – the first step in the industries common automated trading platform to operate across the entire radio and media industry in Australia – is live and operational.
Created by AudioNET, the automated holding software ‘RadioMATRIX’ will allow agencies to interact with all radio stations’ traffic management systems electronically without the paper trail.
RadioMATRIX allows a media agency to view radio spots that are perfectly matched to their system, as well as spots that have been changed and allow them to accept the changes or query them with the station.
Announced back in 2016, the software is an Australian first and will see more than 80 leading advertising agencies and 260 radio stations will be using the system.
Chief executive officer of CRA Joan Warner explained that the milestone was reached in a short period of time thanks to working as a united industry – and the payoff is a more effective system.
“AudioNET has also worked diligently on the implementation of the system which has simplified the interaction between the media buyer and a radio station, making buying radio ads a much easier process,” she said.
“There are almost 7,000 new agency bookings each month that currently agencies and networks collectively spend 126,000 hours per year manually managing,” AudioNET chief executive officer, Dave Cox explained.
“AudioNET’s RadioMATRIX platform will see CRA stations reduce this to just a few minutes per day.”
A result of the automated holdings system going live will be a reduction in the amount of paperwork generated by the ad booking process. AudioNET estimates stations and agencies across Australia each year generate paper that if stacked would reach 170 metres high.