What Rajar’s Q3 Results 2022 mean for PR folks
10/27/22 • 20 min
Welcome to the PRmoment Podcast.
This week we’ve put in a bonus podcast where we chat about Rajar’s latest results. For those of you that aren’t aware of Rajar - it was established in 1992 and operates the single audience measurement system for the radio industry in the United Kingdom
Each quarter they publish the listenership figures for UK radio and this offers a really interesting insight for PR people on how the UK public is engaging with this important channel.
On the show today we have Howard Kosky, CEO of markettiers to talk us through the latest Rajar results.
Before we start the PRmoment Awards 2023 are now open for entries - do check out the awards site PRmomentAwards.com
Thanks to the PRmoment Podcast sponsors, The PRCA.
Here’s a summary of what Howard and PRmoment founder Ben Smith discussed:
1.30 mins A record 49.7 million adults listen to the radio every week, 89% of the UK adult population, over 1 billion radio hours consumed each week and the average listener listens to 20.6 hours of live radio each week.
3 mins 63% of people are listening to the radio at home, 23% of people are listening in the car and 14% at work or in places like the gym.
4 mins How technology and changes in consumers working practices post-COVID have evolved people’s radio listening habits.
4.30 min 13% of people listen to the radio through a smart speaker and 23% listen to the radio via online listening (streaming), DAB has dropped to 39%, Apps 10.2%
“The technology is driving the trend”
7.30 mins What is the opportunity for PR people in the modern radio market?
“There are more choices a listener, which means the opportunity to reach a more indexed audience is greater from a PR and communications perspective but it means more effort.”
“If you’re trying to mobilise a behaviour at a local level or at an age demographic or a profile demographic then the ability to reach tight audience group is absolutely there.”
9.30 mins What are the main content opportunities for PR people within radio?
“They are radio stations first but increasingly multimedia platforms”
13 mins Commercial radio has had a phenomenal year - “all commercial” radio is up from 36.8 million to 38.2 million, and local commercial radio is up from 24.4 million to 25.8 million.
“I take my hat off to how the likes of Global and Bauer have implemented a strategy...to give listeners choice...They have recognised there is an opportunity to provide targeted programming output to reach a particular audience group”
19 mins Why the BBC is trying to drop the age bracket of Radio 2 by not renewing the contracts of the likes of Steve Wright.
Welcome to the PRmoment Podcast.
This week we’ve put in a bonus podcast where we chat about Rajar’s latest results. For those of you that aren’t aware of Rajar - it was established in 1992 and operates the single audience measurement system for the radio industry in the United Kingdom
Each quarter they publish the listenership figures for UK radio and this offers a really interesting insight for PR people on how the UK public is engaging with this important channel.
On the show today we have Howard Kosky, CEO of markettiers to talk us through the latest Rajar results.
Before we start the PRmoment Awards 2023 are now open for entries - do check out the awards site PRmomentAwards.com
Thanks to the PRmoment Podcast sponsors, The PRCA.
Here’s a summary of what Howard and PRmoment founder Ben Smith discussed:
1.30 mins A record 49.7 million adults listen to the radio every week, 89% of the UK adult population, over 1 billion radio hours consumed each week and the average listener listens to 20.6 hours of live radio each week.
3 mins 63% of people are listening to the radio at home, 23% of people are listening in the car and 14% at work or in places like the gym.
4 mins How technology and changes in consumers working practices post-COVID have evolved people’s radio listening habits.
4.30 min 13% of people listen to the radio through a smart speaker and 23% listen to the radio via online listening (streaming), DAB has dropped to 39%, Apps 10.2%
“The technology is driving the trend”
7.30 mins What is the opportunity for PR people in the modern radio market?
“There are more choices a listener, which means the opportunity to reach a more indexed audience is greater from a PR and communications perspective but it means more effort.”
“If you’re trying to mobilise a behaviour at a local level or at an age demographic or a profile demographic then the ability to reach tight audience group is absolutely there.”
9.30 mins What are the main content opportunities for PR people within radio?
“They are radio stations first but increasingly multimedia platforms”
13 mins Commercial radio has had a phenomenal year - “all commercial” radio is up from 36.8 million to 38.2 million, and local commercial radio is up from 24.4 million to 25.8 million.
“I take my hat off to how the likes of Global and Bauer have implemented a strategy...to give listeners choice...They have recognised there is an opportunity to provide targeted programming output to reach a particular audience group”
19 mins Why the BBC is trying to drop the age bracket of Radio 2 by not renewing the contracts of the likes of Steve Wright.
Previous Episode
Most independent PR agencies would be better off as employee-owned trusts, argues Charles Tattersall, CEO at Citypress.
Welcome to the PRmoment Podcast.
This week we’re chatting to Charles Tattersall, chief executive of Citypress about why he decided to sell his business to his employees through an employee-owned trust, rather than via an acquisition.
In the show today we’re going to tell you agency owners out there what you need to know about taking your agency business into employee ownership. Charles will talk us through why he thinks agency owners should sell their business to their employees and how you can do it.
For background, Citypress is an £11m fee income PR firm which was independently owned and became an employee-owned trust in 2021.
Before we start do check out the home page of PRmoment for our latest webinars, including The intersection of Data, Insight and PR Planning and The State of Social Media 2022.
And thanks to our PRmoment Podcast sponsors, The PRCA.
Here’s a summary of what and PRmoment founder discussed:
2 mins Charles talks us through what is an employee-owned trust and how they work.
3.30 mins Who controls an employee-owned trust and how much do the original owners of the business have to pass on to the trust?
“The previous shareholders cannot form the majority of the board on the trust”
5 mins “A trust is the steward of ownership, there are no direct shareholders...it’s a limited company that has directors but its article of association means it’s not owned by anyone, it exists for the employees of the business.”
8 mins A discussion of the advantages and disadvantages of the owner selling your business to an employee-owned trust compared to an exit via acquisition (both a trade sale and a private equity sale).
“The challenge with an MBO is ultimately finance...that a big barrier for a lot of organisations”
With an EOT “effectively the funding for the sale comes from future profits”
11 mins Why Charles is amazed that more PR agency owners haven’t gone the employee-owned trust route.
“One of the incentives is capital gains tax relieve on the sale.”
11.30 mins If you want more information about EOTs, The Employee Ownership Organisation is a good place to start.
12 mins While the advantages of an EOT exit are that it takes the risk and the uncertainty of the sale out of the for the owners of a business, are business owners going to get the same amount of money from an EOT exit compared to an exit via acquisition?
“It depends Ben...it comes down to supply and demand”
“If you run a business you always face a dilemma of what your potential exit is”
“There are a small minority of businesses that are attractive to an outside acquirer”
18 minsWhere does the money come from to form an employee-owned trust?
“There are 3 types of payment our people get - their salary, their performance bonus based on how the business performs each year and when it comes to the profitability of the company, a certain proportion of the profits go to the trust and that is distributed to the people who are working for the business in that given year...so there’s a huge incentive for employees.”
21 mins What is the tax incentive from the UK government or business owners to give their businesses to their employees paid from future profits?
“It’s actually quite liberating (for me) not to be a majority shareholder of the company”
Next Episode
How has the corporate affairs role changed? With Sian O'Keefe, vice president of corporate affairs, Mars Wrigley Europe, Central Eurasia, Belarus and Turkey
Welcome to the PRmoment Podcast.
This week we’re chatting about the role of modern corporate affairs with Sian O'Keefe, vice president of corporate affairs, Mars Wrigley Europe, Central Eurasia, Belarus & Turkey.
It’s a corporate affairs special this week and Sian and I talked about the increased breadth and importance of the corporate affairs role within large businesses.
We’ll discuss the reasons behind this change, where the most important intersections are within a business for a corporate affairs leader and how ESG and a rapidly changing stakeholder environment have increased the demands on most corporate affairs teams.
Before we start the PRmoment Awards 2023 are now open for entries - do check out the awards site PRmomentAwards.com
Thanks to the PRmoment Podcast sponsors, The PRCA.
Here’s a summary of what Sian and PRmoment founder Ben Smith discussed:
1.30 mins Sian talks us through what she sees as the role of modern corporate affairs.
“The role of corporate affairs has changed...our stakeholders expect us to communicate regularly and they want to engage with us regularly...through a variety of different channels and media.”
“Our job is about accessing the external landscape”
4.30 mins What are the key responsibilities of a corporate affairs leader?
2 mins How much has corporate affairs changed in the last few years?
6.30mins How often does the corporate affairs team need to interact with the CEO and on what type of issues?
7 mins What are the other key connections within a business for the corporate affairs director?
“Spot the opportunities to tell our stories”
“People come up with a lot of great ideas but time and resources are not infinite”
10 mins How has the increased importance of ESG changed the priorities of the corporate affairs role?
“Mars’ corporate purpose: The world we want tomorrow starts with how we do business today”
12 mins Sian gives us an insight into how Mars has tried to bring a purpose to chewing gum because it's not the most obvious purpose-lead product.
“The public look to organisations to have a purpose and play a positive role...it can get quite complicated if every brand has a purpose”
15.30 mins What range of skills do you need in a modern corporate affairs department?
“The critical skills in being successful in corporate affairs are adaptability, resilience, innate curiosity...and business acumen.”
16 mins What does the average day in corporate affairs look like, how do you bring a process to the role?
17.30 mins What does a corporate affairs leader want from their agency?
19 mins A discussion about whether the central reason public relations has grown so much over the past 10 years is that stakeholder engagement has become more important.
20.30 mins Do organisations have a choice about whether they will engage with stakeholders, or has it become a cost of doing business?
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