The planning tool, made in partnership with media intelligence resource MediaTel, represents a significant five-figure investment and will enable agencies to plan radio advertising across any station in the UK, including those not owned by Global Radio.
Radio 123 will be provided free to agencies that subscribe to BARB and Rajar data and planners can use its interactive maps to display costs, reach and frequency and compare campaigns to what TV would offer.
Radio 123 will be provided to agencies pre-loaded with the most recent audience data from Rajar and their buying group's rates for Global Radio stations, which Global Radio will update when necessary.
Agencies can then upload their agency group's rates for the other radio groups to enable them to calculate the cost of all campaigns. Rate information is confidential and will not be shared with any other parties, including Global Radio.
Mike Gordon, managing director of commercial at Global Radio, said: "Radio 123 allows anyone, not just radio specialists, to see instantly the audience delivered by any commercial radio station.
"As the largest provider of commercial radio we are probably closer than anyone to the conversation. Radio is a lot simpler than it used to be and we hope this tool will help the industry increase its overall share."
Omnicom media agencies were given access to a beta version of Radio 123.
Vicky Fox, head of implementational planning, Manning Gottlieb OMD, said: "This tool not only makes planning a radio campaign easy and accessible, but its direct comparison to TV makes it instantly comprehensible to any planner across the country."
, down from £277m in the previous 18 months, according to accounts filed this week.
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