NYMRAD Publishes Its 4th Quarter 2018 State Of The Market Report

Q4 Report

NEW YORK MARKET RADIO ASSOCIATION (NYMRAD) has released the Fourth Quarter, 2018 State of the NEW YORK Market Report. The analysis of the NY marketplace is designed to help advertisers understand Radio’s impact on consumers and its prominent role in the local advertising landscape. 

“Technology has allowed Radio to become increasingly accessible for consumers through smartphones and other smart devices which enable them to connect to Radio. Advertisers recognize the importance and the reach of Radio. It is the largest platform to reach consumers in the NY Metro and the United States, said NYMRAD Exec. Dir. DEBBIE BEAGAN.  

National Radio & Advertising

National AM/FM Radio audience is up almost 8 million listeners from 2010 to 2018. Radio penetration of the 12+ demographic is 90%. While national brands continue to invest heavily in national advertising to build brand awareness and favorability, they’re increasingly taking their marketing programs to the local level to drive engagement.

In 2019, national brands are expected to spend $62.7 billion to target local consumers. To build brand awareness and favorability national brands will continue to heavily invest in national advertising but 2019 will increasingly see brands marketing to local consumers to drive sales. Radio is pertinent when it comes to local reach, a tenth of all local ad spend is allocated to Radio. Radio’s share of local advertisements will total 10% this year. Overthe-air Radio captures almost 9% of the local market. Online Radio will also hold a share of 1% in the market. It is estimated that by 2023 the total local advertising market will grow to $161 billion. 

How does this impact Radio advertising? Advertisers recognize the importance and the reach of Radio. It is the largest platform to reach consumers in the United States. 

Radio & New York Metro

Local advertising spend in NEW YORK CITY was expected to exceed $11.5 billion in 2018. This spend was across TV, cable TV, direct mail, radio, mobile and 9 other media platforms. Radio (over-the-air) would account for $769.7 million. In NEW YORK CITY more than 30% of Ad revenue is represented by the five leading market categories which are automotive, education, financial/insurance, general services, and government/political/religious.

Twenty-five stations in the NYC region reported over $35.5 million in ad sales in DECEMBER. The year ended with $420,696,196 in total Radio ad sales among these stations. Radio is the most commonly used channel with 86% of millennials listening to Radio weekly. Cable TV and Facebook are tied at 74% as the second most used medium.

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