A new report by the RAB (Radio Advertising Bureau) indicates that radio has now seen seven consecutive quarters of growth. In addition, digital, off-air, and network broadcasts are all now seeing strong gains in advertising revenue.
“The positive growth we’ve seen over the twenty-one month period is unprecedented since the late 1990’s. Once again, this underscores Radio’s strength during these unusual economic times,” says Jeff Haley, President and CEO of RAB.
Radio’s 2% Q3 increase to $4.527B caps seven consecutive quarters of upward momentum. Revenue for year-to-date through September is also up 2% over the same period last year, to $12.891B.
Spot Revenue maintained its steady course, while Network spending grew 2%. Digital once again posted the largest increases for the quarter (+17%) and year-to-date (+18%), with other Off-Air up 10% and 8% for those periods, respectively.
“Advertisers’ expanding use of Digital and Off-Air platforms to complement their sustaining broadcast commitment strengthens Radio’s current and long term viability,” stated Haley.
“The live and local environment that Radio offers provides an ideal platform for a diverse group of advertisers to zero in on their target audiences,” adds Haley. “This strong marketing mix affirms Radio’s position as a trusted partner to many, including this group representing the top ten for Q3.”
Read the Full Report Here (opens in new window as PDF)