Indigenous tech firm introduces digital platform to boost ads revenue

An indigenous technology innovation company, Space Universe, has launched Radioadspread, an AI-driven global advertisement platform that digitalizes the operation of radio advertisements globally while providing real-time reports.

Speaking at the unveiling in Lagos, the Chief Executive Officer of Space Universe, Tunji Idowu, said that the innovation was birthed to fix the gap between advertisers and radio stations, among other parties involved. He stressed that Radioadspread will ease the hurdles faced in the process of advertising on the radio and help drive revenue for radio owners.

“With the introduction of this platform, we are going to drive revenue for radio stations. What we are looking at is that by the second quarter of next year, we want to double radio advertising revenue by opening up the space to local and international advertisers,” he said

Idowu said that the platform was developed after careful consideration of the problems faced by advertisers while running radio campaigns, as well as the limitations that come with the medium.

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The Chairman, Independent Broadcasters Association of Nigeria, Guy Murray Bruce, on his part, reiterated the importance of technology in the media industry.

Bruce emphasized the importance of radio advertising to effectively reach a larger audience.

“Radio reaches more than 90% of the population, making it an effective way to get your message out to a large number of people.

“Additionally, radio advertising can be targeted at specific demographics, such as age, gender, or geographic location, which can help you reach the people who are most likely to be interested in your product or service,” he said

President, Media Independent Practitioners Association of Nigeria (MIPAN), Femi Adelusi, said that technology adoption to automate the media buying process has grown significantly in recent years.