The entire Independent radio sector and RTÉ are coming together for the first time to grow investment in advertising on the radio.
The new organisation, called Radiocentre Ireland, wants to show how important and influential advertising on the radio is.
The industry body will work to promote radio as a medium - as well as maximising the commercial appeal of the radio and audio sector by promoting excellence and the value it provides to commercial and agency partners.
This is the first time that the Independent Broadcasters of Ireland (IBI) - which includes Bauer Media Audio Ireland - and RTÉ have come together in a formal multi-year agreement, with committed funding to grow advertising investment in the sector.
The board of Radiocentre Ireland is made up of seven leading Irish media executives - three each representing the IBI and RTÉ - as well as John Purcell, who will act as independent chairperson.
Radiocentre Ireland is also recruiting for its first chief executive, to be the ambassador for the radio and audio sector in Ireland.
They will have a range of responsibilities- including promoting the unique advantages of radio to commercial partners, providing a unifying voice for the industry and representing Radiocentre Ireland on relevant industry committees.
More information can be found here
Chairperson of Radiocentre Ireland, John Purcell, told Breakfast Business this is about reaching more advertisers.
"Together we command 3.1 million daily listeners, who every day spend about 13 hours listening to radio.
"So we formed Radiocentre Ireland to basically get the message across to advertisers and marketeers about the great product that is radio, and the fantastic medium it is for promoting their business."
He says radio is the original social media.
"We need to get a bigger share of voice when it comes to talking to advertisers and marketeers, because I think there's been a bit of a romance with social media over the last number of years.
"Social media has its advantages, but we would argue that radio is resilient, it's durable and it's got advantages that new social media don't really have.
"We believe radio's the original social media, it's run by people not by algorithms, and it fulfills a huge range of functions for people.
"It keeps them informed, it helps people escape, it lifts their mood and helps them live in the moment and it's there for shared experiences".
On the IBI and RTÉ working together, he says: "Competitors can cooperate on initiatives to increase the market.
"We're very mindful of the competition, we're mindful of the limits that we operate within.
"But I've been very impressed about the cooperation that's been exhibited in putting this organisation together.
"Everybody who works in radio shares a passion for radio, there's movement between different organisations.
"We'll agree on promoting radio - and then once we get more people into supporting the medium, we'll compete fiercely for a share of the marketing pie".