RAB: Radio Revenue Uptick Continues In Q2 And First Half 2011
August 19, 2011 at 5:53 AM (PT)
Good news, as radio delivered its sixth consecutive quarterly uptrend with a 1% increase to $4.581B in Q2. First Half was up 2%, to $8.364B. Results for the quarter were buoyed by Digital (+18%), Off-Air (+5%) and Network (+3%), as was performance for the half: Digital (+19%), Off-Air (+7%) and Network (+2%), reports THE RAB.
Growth in Radio's sectors for First Half 2011 was through key Automotive, Television/Network/ Cable Providers and Retail categories. Advertisers within the second tier categories -- Insurance Companies, Financial and Beverages -- bolstered Radio’s revenue with significant increases for the quarter and first six months of 2011.
"It's clear that the diversified revenue mix radio broadcasters have created is paying off in a static spot environment," stated RAB Pres./CEO JEFF HALEY. "Contrary to what you might think regarding recent market woes, many of the nation’s largest marketers are forecasting increases in media expenditures through the end of 2011. Companies like P&G, AT&T and COCA-COLA have all reported upcoming campaign support for various products and FIAT is reintroducing its vehicles to the U.S. -- all which could mean more revenue for Radio. This should inspire us to dig in to capitalize on these opportunities to strengthen our bottom line as we close out 2011."