TagStation has provided an update of the state of NextRadio – the Emmis-spearheaded initiative that has put FM radio on Sprint mobile devices. Sprint has executed a marketing push and the numbers are looking great.
Here are some key metrics as of 9/30/13:
*App downloads: 30,000, up from 13,000 8/13/13
*85% retention rate (too early to really tell in prior survey)
*3,700 stations tuned in, up from 2,400 stations
*7,000 hours of listening, up from 2,500 hours
Impressive numbers across the board for an initiative that is still in its infancy.
TagStation wanted to place special emphasis on the retention rate. It’s one thing to download a music app; it’s something else again to hang on to it. The industry standard is 50%, so the 85% rate for NextRadio is officially outstanding.
“That’s the best vote of confidence we could get from consumers: They’re downloading, listening, and coming back for more,” said the TagStation staff.
The service won over well-known financial analyst Marci Ryvicker of Wells Fargo. At the recent NAB/RAB Radio Show in Orlando, she said, “We REALLY like NextRadio…We spent a lot of time on NextRadio and were pleasantly surprised with how well this app has been received… At this point, we don’t know why the entire radio industry wouldn’t jump on board — with little to no downside, it feels like this really inexpensive option could be worth a lot of money down the line.”
The proponents of NextRadio are working on getting more stations aboard, and perhaps even more importantly, getting participating stations to make full use of the service. They point out that radio stations delivering enhanced data via the service are getting twice the listening minimalist stations are receiving.