Jim Boyle: 38% Increase In Auto Ad Revenue In Q1 2011
April 13, 2011 at 11:32 AM (PT)
Automobile advertising is getting back in high gear, according to the numbers crunched by analyst JIM BOYLE for MEDIA MONITORS. The best news for radio was a 38% increase in auto ad revenue for Q1 2011 over the previous year.
Overall, Q1 automobile advertising revenue rose over 20% in 2010 and 2011. Auto spots for Q1 2011 are just slightly behind the number of spots ran in 2010, yet it still was over 20% better than 2009.
While TV garnered the largest share of the newfound auto ad revenues, radio fared quite well, too. The number of auto spots on radio increased from 343,200 spots in Q1 2009 to Q1 428,800 in 2010 to an expected 530,000 in Q1 2011. That literally paid off on radio bottom line as Q1 revenues from auto ads rose from $49 million to $54 million in Q1 2010 (a 9% increase) to $74 million -- a 38% increase over Q1 2010 and a 51% improvement over Q1 2009.