What is MyRadio, you may ask? It is an Internet-based In-Store Radio Network playing foreground music, while delivering targeted ads. Highly desirable stores get paid for playing the service for their customers, while MyRadio sells ads to neighboring businesses.
The three advertisers announced as “advertising partners” for the service aren’t local businesses, but rather big, national businesses who will be marketing their wares. They are AT&T, CompUSA and 1-800-PetMeds.
“We are looking forward to working with these new marketing partners. All three companies are highly regarded and we are honored that they chose us to promote their brands,” said MyRadio CEO Robert Bell.
MyRadio has trademarked the phrase “Block Level Marketing” to describe its community-based advertising network, “which is designed to help shopping areas such as strip malls and downtown areas to create a more vibrant shopping area.”
For now, the three national advertisers are running banner ads on MyRadio.com in July. “We hope to expand these relationships to our In-Store Radio Network and to our Internet Radio business,” said Bell. “We are currently pursuing several relationships that would put our In-Store Network in more than 10,000 locations in 2010,” he added.
This is literally “a dollar a holler” radio. The website pitch is “Advertise your business on MyRadio for a low as $1 per ad.” The company also tells retailers they can earn $100 per month to play music (and ads) for their customers. MyRadio says it is an alternative to businesses paying to have XM or Muzak in their stores.
RBR-TVBR observation: Imagine that, an audio advertising vehicle even more local that broadcast radio. Sounds like a tough market to us. But if it does gain any traction radio and TV AEs will want to do a little shopping to listen to what local businesses they manage to sign as advertisers.