SCBA: SoCal Radio Ad Revenue Up 3.7% In February
March 26, 2014 at 11:09 AM (PT)
The SOUTHERN CALIFORNIA BROADCASTERS ASSOCIATION (SCBA) reported "strong, across-the-board ad revenue market gains for FEBRUARY." The MILLER KAPLAN ARASE FEBRUARY 2014 Market Summary Report found that total market revenue grew by 3.7% for the month. On a YTD basis through FEBRUARY, the L.A .total market revenue growth is 3.1%.
“This substantial market growth reflects the dynamic power of SOUTHERN CALIFORNIA radio and our member radio stations’ determination to begin 2014 on very strong footing, “said SCBA Pres. THOM CALLAHAN.
The MILLER KAPLAN ARASE report also saw digital revenue for the reporting stations grow 16.8% in FEBRUARY and a YTD growth rate of 14.7%. There were also 336 new advertisers that spent $12.7 million. Key category drivers include: Insurance – Up 141.7%, Cellular/Communications – Up 45.8%, Concerts/Theatre/Movies – Up 34.7%, Casinos/Lottery – Up 32.5%, and Education – Up 32.3%.
“The Auto category reflects a growth rate of 6.4% YTD and convincingly reverses the trend from Q4 of 2013,” CALLAHAN noted. “Radio and its digital platforms remain a key strategic partner for SOUTHERN CALIFORNIA car dealers and associations that are driving market share, brand awareness, and sales using Radio.
“Now, with two strong revenue reporting months in a row, SOUTHERN CALIFORNIA radio is well on its way to a solid first quarter with real momentum and a full pipeline of new business to come,” he added. “FEBRUARY was a decisive revenue growth month with the perfect trifecta of Local, National and Digital all coming together for a very positive month for our region.