With the previous advancements of the compression of computerized audio files for easier transmission made by web pirates in the 80s, technology pioneer, Carl Malmud, founded the first internet radio station in 1993. With no other competition, it was simply called “Internet Talk Radio”. It was mostly comprised of entertaining interviews with key players of the science and technology industry. Since then, the growth of internet broadcasting has snowballed into the 21st century after a few musical concerts were broadcast live and music shook loose of its traditional radio roots and became “streamable”.
When internet broadcasters once needed their own servers and platforms, 365live.com changed the game, and newer, better technologies have emerged to offer anyone the opportunity to broadcast in a community. Now, this technology can be used on devices smaller than some wrist watches, such as on iPods and on smartphones. Apps such as Spotify, Apple Music, Google Music, and Pandora are among streaming music favorites and Slacker.com and Internet-radio.com for talk radio.
Why Does This Technology Matter So Much?
For a long period in radio’s history, you were told you could expect little change in the technology and the way the consumer used it. The 21st century had other plans. When once you had little choice of what you listened to and when, you now can completely tailor your listening experience. What, how, and when are all now within your control. You can support that which you personally believe in, rather than what agenda and advertising are being targeted at you. You can more closely engage with people you look up to and communities you want to join. It can be used as a tool to quickly transform your own mindset and life altogether.
The Opportunity It Presents
Not only do listeners stand to gain, but broadcasters just as easily reach their “tribe”, too. Business owners who choose to sponsor internet radio stations are also equally rewarded by being able to target such a specific audience with ads, guest spots, or shows of their own. If they are only advertising with traditional radio stations, they are in for a slim return because it only takes this 30-page report by Larry Miller of New York University’s Steinhart Music Business Program to understand that emerging listeners have no interest in technologies of the past.
The studies says “Generation Z, which is projected to account for 40% of all consumers in the U.S. by 2020, shows little interest in traditional media, including radio, having grown up in an on-demand digital environment”