RAB: Radio Sees Second Consecutive Year of Ad Growth
Feb 17, 2012 3:14 PM
New York - Feb 17, 2012 - Radio marked its second consecutive year of growth in 2011, with full-year revenue finishing at $17.4 billion, up 1 percent. Performance was based on spot momentum through the first three quarters, a double-digit gain in digital (+15 percent), and stronger showings in off-air (+7 percent) and network (+3 percent).
The latter three sectors also excelled in 4Q2011, up 8 percent, 6 percent and 5 percent respectively, offsetting spot at -4 percent to produce 4Q2011 comps of -2 percent.
According to Jeff Haley, RAB president and CEO, "The diversity of radio's revenue mix helped our industry achieve a second consecutive year of growth since rebounding from the recession. Spending across radio's top five categories has been consistent since 2007 and contributed greatly to radio's revenue performance. Further, while automotive remains dominant, the categories ranked #2 to #5 have grown closer to each other compared to 2007 levels and now represent a larger percent of the overall pie."
Digital, off-air, network all show strong gains from last year....