RAB Reports Radioâ€™s Q3 Spending Up 1%
Communications/Cellular Posts Uptick, Digital Upward Trend Stays
November 22, 2013 at 7:09 AM (PT)
Radio’s overall Q3 result was the best this year, up 1% compared to flat delivery in Q1 and Q2.
Year-to-date performance remains on par with 2012. The 3rd Quarter uptick was based on a 1% gain in the Spot sector, which represents the largest portion of Radio’s revenue base. Digital continues to show robust gains -- up nearly 1/5 -- while Off-Air was up 3%.
Network posted a decline of 11% against last year’s sales. Year to date, Spot revenue is flat; Digital, Off-Air and Network are +15%, +3% and -7% respectively.
Digital continues its reign as Radio’s fastest growing sector. Off-Air activity also remains steadfast, increasing every quarter in 2013. Combined, Digital and Off-Air represent 13% of Radio’s total revenue.
"The momentum we saw building at the end of Q2 has definitely translated into a positive Q3 for Radio in many of our Top 10 advertiser categories, led by Communications/Cellular with a healthy 24% increase," noted RAB Pres./CEO ERICA FARBER. "Among key categories -- Automotive, Professional Services, Health Care, Home Furnishings -- all showed substantial increases as well. Increases from these diverse ad categories illustrate Radio's cross-platform strength to drive traffic and sales -- for large corporations to Main Street businesses."
"Automotive regained the top category ranking in Q3 but Communications remains as a strong #2 in the field," noted FARBER. "We're looking for the holiday season and year-end selling efforts to provide additional momentum to end the year on a positive track."
See the full list of radio's biggest advertisers here.