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 $12.891B.
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 twenty-one month period is unprecedented since the late 1990’s. Once again, this underscores Radio’s strength during these unusual economic times,” says Jeff Haley, President and CEO of RAB.
platforms to complement their sustaining broadcast commitment strengthens Radio’s current and long term viability,” stated Haley.
“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.”
Spot Radio, Digital and Off-Air revenues are based on a pool of more than 100 markets as reported by the accounting firm of Miller, Kaplan, Arase & Co. and extrapolated to the entire U.S. Digital Revenue is comprised from activity generated by websites, Internet/web streaming and HDRadio including HD2 and HD3 stations. Network Revenue includes the top five Radio network companies. Non-Spot data has been collected and verified since January of 2002, and reported since September of 2004.The Radio Advertising Bureau serves more than 6,000 member Radio stations in the U.S. and over 1,000 member networks, representative firms, broadcast vendors, and international organizations. RAB leads and participates in educational, research, sales, and advocacy programs that promote and advance Radio as a primary advertising medium.