RAB: Radio Revenues Continue to Rise Through 2010
Nov 22, 2010 3:59 PM
New York - Nov 19, 2010 - The Radio Advertising Bureau released its report on radio advertising trends for 2010 to date. The RAB says radio has continued its upward trajectory in Q3, maintaining its year-long 6 percent growth rate.
Revenue Comparisons - 2010 vs. 2009 ($millions)Revenue$Q3 '10% Chg$YTD '10% Chg Local 2,9703%8,4643% National 70010%1,97014% Local & National Combined3,6705%10,4345% Network2714%8053% Digital 16323%44322% Off-Air3555%1,0162% Grand Total4,4595%12,6986%Source: Miller, Kaplan, Arase & Co.*
"Radio has generated steady momentum throughout 2010," states Jeff Haley, RAB president and CEO. "Advertisers in Radio's top five reporting categories are up 19 percent collectively year to date through September -- $770M over 2009 comps."
2010 Leading Growth Categories
Local and National Radio ($millions)Category$Q3 '10% Chg$YTD '10% Chg Communications/Cellular380.661199.610 Auto Dealers/Dealer Groups/Manufacturers/Rentals365.9191178.924 Financial Services335.532952.828 Television/Networks/Cable Providers325.718915.116 Grocery/Convenience/Liquor Stores210.76686.116 Department/Discount Stores & Shopping Centers188.634440.017 Professional Services71.125401.116 Source: Miller, Kaplan, Arase & Co.: X-Ray Markets (Extrapolated dollar amounts based on the 35 market X-Ray pool may not be fully indicative of industry results as a whole.)
"Advertisers who understand the importance of reaching consumers in their local communities have continually increased their use of radio this year," says Haley, "with automotive, financial, and department store marketers most notably promoting radio's economic growth."
The four top radio categories all registered spending well above the $300M level in Q3, and the top two (communication and automotive) are already above the $1B mark for the year to date through September -- with financial services and TV/networks/cable providers all poised to move up to that level. Radio also received a major cash infusion from political advertisers in the final throes of this year's competitive mid-term elections.
*Local, National, 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 HD Radio 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.
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