Hayes: Irish radio stations are losing revenue
Dublin MEP, Brian Hayes has called on the European Commission to revise the rules concerning radio adverts.
The Fine Gael MEP wants to see the end of lengthy “terms & conditions” read at a fast pace on radio adverts. A simple message directing listeners to a website for further information makes better sense.
“The Consumer Credit Directive requires that standard information be provided in any advertising concerning credit agreements. Irish radio stations are losing revenue from this Brussels red tape requirement. The best examples are adverts for bank loans, new cars and insurance products. Radio advertising is severely disadvantaged as it does not have the visual element enjoyed by other media sources such as print, web and television.”
“When you see an advert on TV from a car manufacturer, the legal requirements for that advert are displayed in small print throughout the advert. This includes information such as the percentage of the loan interest and the required deposit. The same applies for adverts in newspapers and online.”
“Radio adverts are different. In order for radio stations to comply, they are required to read out the terms and conditions of every advert. This requirement means that a company who purchases 40 seconds of advertising can actually only advertise for 20 seconds as the remainder of the advert is filled with terms and conditions.”
“I believe the European Commission needs to revise the rules. I have written today to Vice President Timmermans, Head of Better Regulation to investigate this matter.”
“Consumers would be better advised if a simple message at the end of the advert directing them to a website was announced,” concluded MEP Hayes.