Radio Sees Seven Consecutive Quarters of Growth
November 18, 2011 at 6:38 AM (PT)
As we head towards the end of the year, here's great news for radio: Radio's 2% Q3 increase to $4.527B caps seven consecutive quarters of upward momentum. Revenue for year-to-date through SEPTEMBER is also up 2% over the same period last year, to $12.891 Billion.
Spot Revenue maintained its steady course, while Network spending grew 2%. Digital once again posted the largest increases for the quarter (+17%) and year-to-date (+18%), with other Off-Air up 10% and 8% for those periods, respectively.
"The positive growth we've seen over the 21-month period is unprecedented since the late 1990s. Once again, this underscores Radio's strength during these unusual economic times," said RAB CEO JEFF HALEY. "Advertisers' expanding use of Digital and Off-Air platforms to complement their sustaining broadcast commitment strengthens Radio's current and long term viability.
"The live and local environment that Radio offers provides an ideal platform for a diverse group of advertisers to zero in on their target audiences," adds HALEY. "This strong marketing mix affirms Radio's position as a trusted partner to many, including this group representing the top ten for Q3."
Read the full report here.