MUMBAI: Raditaz today introduced the future of Internet radio, delivering over 14M tracks from the cloud to the web, and to iOS and Android devices. Raditaz is a radical evolution of the Pandora model, with more than 14M songs in its catalog, better discovery, unlimited skips, and location awareness at the heart of the application. Raditaz is a better way to discover and listen to the music you want to hear, and to see what’s trending locally, in cities around the country. Raditaz can be downloaded from the iTunes App Store or the Android Market.
Some key facts:
— 240M radio listeners represent 80% of music consumption, and drive $17B in annual revenue.
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— Internet radio currently has around 80M listeners, and generated hundreds of millions in revenue last year.
— By 2015, eMarketer projects that 68% of Internet users will listen to Internet radio WEEKLY compared to 37% in 2011.
— Internet radio enables personalization via ratings and tagging, enables sharing and discovery, and allows users to listen anywhere via smartphone.
— Raditaz is a free app for consumers, and will monetize with geographically relevant display and audio advertising to users as they are on the move.
— Raditaz optimizes stations to present the right station to the user at the right time based on their activity and location.
— Users help Raditaz learn what type of music they like when they are doing certain things at certain times and at certain locations.
Unlike any other music platform, Raditaz combines the best elements of the listening experience — discoverability, sharing, unlimited skips, and the best “music DNA” possible — with location-based features, bringing a disruptive new gold standard to the Internet radio market. The location elements of Raditaz deliver a taste of the local flavor anywhere in the US, down to micro levels, like what people are listening to at the gym, or at a local restaurant.
“FM radio just doesn’t cut it anymore — our preference for making music personal has changed the way we find and listen to music,” said Tom Brophy, founder and CEO, Raditaz. “In the new music world where music is more about identity than opinion, we bring personality to the music people love to listen to the most, creating a whole new music experience, and opening the door for a powerful new revenue model for advertisers.”
The way Raditaz works is simple: when a user creates a new station, that station is automatically assigned geographical coordinates so other users can find it in the Raditaz map view or when browsed on the explore page. Tags can be applied to custom stations (@home, #running, #beach) to better define them. Users can browse tags based on keywords, to see what’s trending in a specific community, or discover new music based on activities or interests.
