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The business of internet radio

Personal devices, from mp3 players to audio streaming devices make the music listening set up specific to one’s needs.

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Many of the current generation have never seen a transistor radio or even listened to music issued from it. Gone were the days when the whole family gathered around the radio to listen to music or to hear an important event in history. Radio played that part, before television came along, of being that source of information and entertainment for the family at home.

Nowadays, technology has made listening to music a very individualized and personal experience. Radio may seem obsolete to many, but Internet Radio is again making the experience a social event for many. This is the business of Internet radio at its finest allowing for everyone to use it, accessible for all where everyone can discuss the goings-on on the site.

The strengths of internet radio

Equalizer. The availability of technological means to broadcast to others has been simplified with Internet radio. Now, an Internet radio station can be set up through registration on a site such as live365.com and by downloading its program. Now with the technology, anyone can become lord of the airwaves. In another aspect of it, the radio station does not control what is to be heard. The user can choose what they want to listen, when they want to listen and how often they want to listen. There is no monopoly, but only equality between all on the site.

Access. The Internet is online 24/7, day or night in whatever part of the world.

Because of the internet, access to the market occurs at any given time regardless of borders or time zones. (Source)

The reach, therefore, is unprecedented to those who are connected online, as they are able to reach out to individuals throughout the world unhampered. Conversely, the site is easily accessible through a mobile device, where streaming would remain of top notch quality.

Interactivity. Technology has brought with it the ability to communicate better. While radio was a one-way street, Internet radio, on the other hand, has impressed upon it the character of interactivity. Nowadays, listeners can provide feedback, comments and even join the show in real-time, unlike the old school radio, where the listener was at the whim and fancy of the radio station. Discussions are done online with others on the site.

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How these strengths are monetized

These strengths are best seen in many sites among them Audioboom (LSE:BOOM). This unique internet radio site provides all the aforementioned strengths. As an equalizer, the site provides unlimited listening to anyone and everyone with a free account. Access to the site is easy, as it can be reached easily via a PC or a mobile device. There is interactivity on Audioboom, as members can discuss things among themselves as well as with the owners and/or operators of the site. With the site having these qualities, there is certainly business to be made on the site, not to mention that monetization possibilities on it are endless.

(Sources: 1, 2, 3, 4)

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French-American social entrepreneur Dom Einhorn is the founder and CEO of Exponential, Inc. (XPO2). XPO2 is a cause-related technology marketing firm that specializes in developing and promoting white label e-commerce platforms. These platforms help boost the fundraising capabilities of charities, non-profit organizations, and CSR-interested corporations in different countries.

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