SCBA Report Predicts Strong Business Trends For Southern California Radio In Third Quarter
June 16, 2016 at 4:03 AM (PT)
The SOUTHERN CALIFORNIA BROADCASTERS ASSOCIATION (SCBA) has released its third-quarter forecast for its local market, and the report, compiled from data from several sources including NIELSEN, SCARBOROUGH, MILLER KAPLAN ARASE, state and local government agencies, and news media, is predictably optimistic.
“The SCBA Quarterly Market Guidance Report for Q3 is our most extensive report to date on the dynamic SOUTHERN CALIFORNIA region,” said SCBA Pres. THOM CALLAHAN. “The report is researched and written as a thoughtful guide for advertisers wanting factual information that is useful to their brands and business.”
“This report describes a surging regional economy, solid job growth, consumer demand for AM/FM Radio increasing with higher cume listening trends, and our enhanced competitive strength against pure plays, GOOGLE and FACEBOOK,” added CALLAHAN. “SCBA’s tracking of categories, political advertising analysis, and strong summer months to come all point to compelling Q3 revenue growth for SOUTHERN CALIFORNIA Radio.”
Among highlights, the report predicts strong automotive sales for SOUTHERN CALIFORNIA in third quarter; travel for casinos and participation in lotteries are projected to grow; the entry of ALDI and WHOLE FOODS' 365 subsidiary into the market portends positive signs for radio revenue in the quarter, as does the political ad category; the region's estimated gross domestic product to exceed $1.4 trillion for the year, making the area the 16th largest economy in the world (and LOS ANGELES COUNTY alone 21st); jobs are up in the region overall, and ORANGE COUNTY's unemployment rate has fallen to the lowest in SOUTHERN CALIFORNIA and fourth lowest in the state, and the INLAND EMPIRE and VENTURA COUNTY also seen unemployment drop; SAN DIEGO has recovered all of the jobs it list in the recession; and traffic congestion has increased to cause an average of 80 hours of delays a year, almost double the national average and encouraging in-car radio listenership.
Read the report here.