Radio gets electronic trading system

JICRIT, the joint radio airtime sales venture between the Commercial Radio Companies Association and the IPA, is launching an electronic trading system that could revolutionise the way radio airtime is bought and sold.

The system, which will work with JICRIT's soft-ware service, J-ET, delivers single-source, post-campaign accountability figures electronically to media buyers.

Developed and maintained by the media software company MediaTel Group, the system will enable radio station sales departments to respond to briefs from media buyers by downloading their post-campaign accountability figures from J-ET and sending them electronically to media agencies.

Justin Sampson, the managing director of the Radio Advertising Bureau, said: "No other medium has anything like this. Eventually, the system will be seen as an advantage to the industry as it will remove the administration that accompanies the purchasing of radio airtime."

Max Davies, the director of JICRIT, added: "The system we have developed is truly innovative. We aren't aware of any other medium in the world that can lay claim to such an all-embracing system for managing communications between advertising customers and media owners' sales teams. J-ET manages this from initial briefing through negotiation to post-campaign accountability."

Upon its launch, eight sales points and 15 media buying points, which between them generate £250 million of radio advertising expenditure, are already subscribing to J-ET.

JICRIT fulfilled its first objective - providing single source accountability for radio advertising - with the launch of J-ET two years ago. By providing J-ET with an electronic trading system, the joint venture has fulfilled its second objective.

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