Is Online Radio Alive?

Since last few years, there have been endless debates on whether the online radio is on the verge to end? Well no, there's a constant competition between YouTube and One-click music websites. But still, surprisingly listening to online radio has been the top-most priority around the world for many users.
Internet radio has the potential to be a universal media ever. It truly draws more attention than films, television, or books, and music can be enjoyed online while doing other tasks too.
There are two types of listeners- Slant or Lean Forward. Slant listeners hear music and songs via a playlist or station whereas lean forward listeners actively choose individual songs of their choice. The major population of people prefers lean back experience.
In 2014, a survey answered all the answers which said that "the major population of the American nation started streaming music online rather than watching television. The age group included was from (18-24). The top downloadable apps were Pandora, Spotify, and YouTube".
Considering some facts, let's put it up as- The average person sleeps approximately seven hours a day, meaning there are up to seventeen listening hours per day that one could listen to internet radio. And it's expected that within two years, 3.5 billion people will be online, fetching the total possible listening hours to 59.5 billion per day worldwide. With the average revenue amounting to $42.77 per thousand hours, there is a potential daily cap of approximately $2.5 billion in 2017. And that is just enough to change the entertainment category drastically.
Some of the famous Internet radios are following:

• Kool 97 FM

• ESPN Radio

• MixRadio

• YouTube Mix

• BBC

Companies/Industries need to provide highly personalized listening experiences to enhance the listening experience of its user. Internet radio could be the best friend because it could passively push you to wake up, motivate you to run faster, work more productively, and much more. This type of personalization has already begun in advertising and has been introduced to online radios as well.
With the introduction of the online broadcast, we as listeners are getting to know the people who have same taste like ours. With the coming down costs of streaming, collecting and storing large media's, our ability of exploring is increasing at a drastic rate. Lastly, the leading record labels are now willing to accept this program shift. In the last three years, companies have signed contracts to make their music libraries legally available.
Music data analyzing firm, "Next Big Sound's recent 2014 report highlighted that how brands' advertising money could be spent in a better way. In 2014, artists saw an incredible growth in their digital reach as a result of brand's commercials; however, for brands, their promoting reach did not extend their reach beyond the value associated with these paid digital ads. As a result, brands with a limited budget will also target music advertising.
With the impending growth of internet radio, as we are continuously shifting digitally, the plenty of listeners' data will provide advertisers improved targeting, as well as awareness of their demographics. This new pattern will offer companies an incredible opportunity to connect with the right listeners. Now, The only question remaining is, how your station is going to look like?