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Bridge Ratings Updates HD Radio Projections
In June 2006, Bridge Ratings conducted a study of radio consumers to gauge their awareness of, and interest in. HD Radio. At that time, 62% of the sample were aware of the term "HD Radio." In their just-released study, that number has increased to 72%.
Awareness of the new, HD medium has increased significantly in all quadrants. The overall number is higher when the month of December only is taken into consideration when 80% of those questioned had heard of HD Radio. A positive sign that the industry's marketing efforts to raise awareness have worked.
Despite the increase in awareness, knowledge of what the medium is has actually fallen from the original 2006 study. Fifteen percent of the total sample were able to say at least that HD Radio was a radio technology that "improves sound quality, offers additional digital interactivity and required a special radio." This number is down from 19% in June of 2006.
Bridge Ratings’ analysis of the market indicates that even with some of the Christmas holiday price discounts, (such as Radio Shack's), $99 was too high of a price point for their panel of consumers. Availability in the marketplace also plays a considerable role in the growth prospect of this medium. Over 90% of the consumer panel could not remember seeing in the last thirty days an in-store display promoting HD Radio.
Conclusions: Improved product reviews of HD radio will aid positive brand awareness and interest, while the marketing of HD Radio by the radio industry must greatly improved. While overall awareness of the term "HD Radio" has increased in the last year, there is considerable confusion, misinformation or total lack of understanding as to what HD Radio is or what its benefits are to the consumer. This, they feel, is one of the greatest challenges to the growth of HD Radio.
The complete study results are available at: http://www.bridgeratings.com under “What’s New.”
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