RAB: 4Q Ads Off 10%, 2008 Down 9%
February 20, 2009 at 10:15 AM (PT)
The RAB's just-released figures on ad revenue basically affirmed what many already knew: The fourth quarter was 2008 was the worst of a tough year overall. Local ad revenue fell 13% in 4Q, while National revenue dropped 14% Network ads were only off 4% and the Off-Air advertising was the closest thing to a silver lining, with revenues up 1%. All told, ad revenue fell 10% in 4Q.
For the entire 2008, Local revenue dropped 10%, National fell 12%, Network Revenue was flat and Off-Air was up 7&. In all, revenue was down 9%
Looking for positive signs, RAB Pres./CEO JEFF HALEY said, "There were some standout advertisers that increased Radio spending this year across all sectors, Local, National and Network. Major retailers in big box, QSRs, supermarket, and home improvement came on strong in Q4, as did accounts in the Communications and Insurance categories."
Citing the growing Off-Air advertising growth, he noted,"Radio's stepped-up efforts to follow advertiser trends to emerging media channels paid off in 2008. Radio operators' commitment to growing Off-Air business opportunities netted a 7% increase in this platform for the year, despite a relatively small gain in Q4. This area will remain a focus as Radio rises to meet the challenges of 2009 and beyond. At the current growth rate, Off-Air is on target to reach $2 billion in 2009."
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