Q3 Ad Revenues Down Amidst Hopeful Signs
November 20, 2009 at 3:15 PM (PT)
Although advertising revenue was once again down double-digits in Q3 2009, the RAB is seeing light at the end of radio's recession tunnel. This quarter's tunnel saw local revenue fall 19%, national dropped 17% and network fell 11%, digital revenues increased 14%
Although that was far from enough to cover the declines, RAB Pres./CEO JEFF HALEY cited an improving (albeit slowly) consumer confidence in Q3. "As the quarter came to a close, it showed promise of an upswing in advertising spend by marketers," he said. "Increases in expenditures in highly competitive categories continue to positively influence radio’s bottom line.
"Although there have been shifts in rank, Radio's top-5 categories have been consistent since 2005" he continued. "Within these top-5 categories we continue to see some advertisers aggressively increase their share of voice when compared to their higher spending competitors."