2009 Radio Revenue Soft, But Future is Bright
Nov 25, 2009 10:33 AM
New York - Nov 20, 2009 - The Radio Advertising Bureau (RAB) released its 3Q2009 radio revenue report. While the report carries an optimistic view of radio revenue, the data shows that 2009 on-air advertising revenue was down 19 percent compared to the same time in 2008. Revenue from non-on-air radio ads (not counting online) was down 9 percent. Radio online revenue had a good year, however. It's up 14 percent compared to 2008.
Despite the numbers, the revenue trend show that income is on track to achieve parity with previous years. The RAB says that consumer confidence is slowly improving, which provides encouraging signs of an economic recovery.
The same report shows that 2010 advertising spending will exceed 2008 figures, and it will steadily grow through 2013.
Kagan notes that radio increasingly turns to online streaming and mobile apps as traditional ad revenue declines....
BIA estimates radio and television stations collectively drove approximately $805 million in online dollars, equal to 7.3 percent of the $11 billion local online advertising money spent in 2008....