How large is your radio market both in terms of number of radio stations (public and private) and overall advertising revenue (in USD)?
There are 10 major stations and 10 smaller or local stations; so, 20 in total. The ad market is approx US$16 million.
Is your radio market growing in terms of new players in radio or audio starting up in 2021?
Yes — always new podcasts and some smaller local stations, but no nationwide or major stations.
Has your radio audience grown over the COVID pandemic, and how does it look now?
Yes, there is an increase of around 5–10%.
How has radio advertising revenue performed over the same period?
The market is at a similar level in 2021 as pre-COVID.
What is the most important new opportunity that radio stations in your market are pursuing in terms of investment in capital and human resources?
They are investing in technology.
What seem to be the most challenging technological, programming, strategic and/or sales goals among radio owners in your market?
In terms of strategy, programming and sales:
- To reach young audiences.
In terms of technology:
- A joint radio player for the whole market is a must.
How advanced is your market in terms of the transition of FM radio operators into audio streaming, audio on demand and digital radio such as DAB or DRM?
Almost all channels are online and with audio on demand. Very few solely digital stations. No DAB in this market, just FM and digital.
What regulatory body oversees radio in your country?
Are there other noteworthy radio industry organizations in your country? If so, who are they?
No other radio industry organizations.
Einar Logi Vignisson, CEO RUV Sales