RAB Q1 Radio Revenue Figures Show 24% Drop
May 21, 2009 at 3:30 PM (PT)
The numbers for first quarter are in from the RADIO ADVERTISING BUREAU, and they aren't pretty, with total radio revenue down 24% year-to-year to $3.43 billion. The total includes local revenue of $2.354 billion, down 26%, and national revenue of $473 million, off 27% (combined local and national revenue fell 26%). Network revenue also fell 13% to $238 million, with "off-air" (formerly non-spot) revenue down 12% to $264 million. Only "digital" revenue rose, gaining 12% to reach $101 million.
"Radio's digital platforms are experiencing the greatest growth and are reflective of the dollar shift from media to marketing by many of today's advertisers," said RAB Pres./CEO JEFF HALEY in a press release. "As consumer and technological sophistication increases, advertisers will continue to support those platforms which appeal to their customers' increased on-demand behaviors -- and Radio is primed for it."
"In today's economy, consumers are looking to make every dollar count," added HALEY. "It's interesting to note that many advertisers who are tied-in to price and value are making use of Radio -- an economic yet effective vehicle to transmit their messages out to the buying public. As the economy begins to turn up, we should have numerous advertisers who've confirmed their trust in Radio as we've helped their businesses survive -- and even thrive -- through these times."