Everybody knows that the best place to listen to the radio is while you’re driving your car, but that has presented a problem for advertising types – how do you measure an audience that’s always on the move?
That problem could soon be a thing of the past if Melbourne start-up Metrometrix has its way. The company has put together a technology that allows them build reliable audience data on the radio stations people listen to in their cars, and is currently working to build a client base for the product.
The Metrometrix system works by installing a small device – about half the size of a mobile phone – behind the dashboard of a car which picks up what the driver is listening to. It then communicates that information back to the company’s servers using a mobile phone signal, enabling advertisers and broadcasters to access real time listener data.
Metrometrix is currently working with prospective clients to establish just how big a panel it will need to produce reliable data and also trying to put together first round funding to get the business fully up and running. Its prospects are looking pretty good so far – despite the current market wobbles, chief executive Richard Biggins says the company has already received commitments for 60% of the $2 million investment it needs to get things moving.