First E-Trading System For Radio Launches In The UK
The first electronic trading system for the UK radio advertising industry launches this week. J-ET has been developed through JICRIT, the collaboration between the commercial radio industry and the advertising industry through the IPA.
Created and run by MediaTel to enable screen-based trading for buyers and sellers, the system will also increase post-campaign accountability within the industry. All the major radio sales points are using the system and the top ten radio buying points have subscribed so far. Collectively, this adds up to £250 million of radio advertising airtime – or two-thirds of the total advertising business for commercial radio.
Justin Sampson, managing director of the Radio Advertising Bureau, and a director of JICRIT, said: “J-ET is a real first and has been made possible by the collective will of the commercial radio industry and the enthusiastic support of the advertising industry. RAB has been pleased to fund this development on behalf of the industry – it is our belief that J-ET will enable buyers and sellers to develop new ways of creating effective radio campaigns.”
The first full-time member of staff at JICRIT has been appointed to ensure that J-ET continues to be developed in line with customer needs. Max Davies joins the venture from MediaVest, where he was an associate director. In the coming year he will work to further functionality within the system and develop the electronic transfer of data for invoicing.
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