The first electronic trading system for commercial radio was
launched last week under the name J-ET (Jicrit Electronic Trading.)
The electronic bartering system is designed to enable City-style
J-ET allows buyers and sellers to trade onscreen and speeds up
The top ten radio sales houses - including Capital Radio Advertising,
Opus and Chrysalis - have been using the system on a trial basis for the
past 12 months.
J-ET hopes at least pounds 250 million pounds of airtime - or two-thirds
of commercial radio’s national advertising - will be traded online.
One of the plans is to increase the number of agency subscriptions to
the system by the end of this year.
Justin Sampson, managing director of the Radio Advertising Bureau, said:
’J-ET has been made possible by the collective will of the commercial
radio industry. It is our belief that J-ET will enable buyers and
sellers to develop new ways of creating effective radio campaigns.’
Max Davies, the former associate director of MediaVest, has left the
agency to become the system’s communications manager.
Davies will be responsible for building J-ET’s reputation with media
agencies and advertisers.
J-ET’s predecessor Jicrit was owned 50:50 by trade bodies the Commercial
Radio Companies Association and the Institute of Practitioners in
Jicrit was funded on an on-going basis via subscriptions paid by media
buying agencies and radio sales houses.
During its trial period, J-ET was funded by the Radio Advertising
Bureau, the trade marketing body for the commercial radio industry.
The technology for the system was created by software company MediaTel.