RAB Report Shows Q3 Growth in Digital Revenue
Nov 21, 2014 1:47 PM
NEW YORK� Industry advocacy group the Radio Advertising Bureau has released a report that shows the industry''s Q3 digital revenue grew 11 percent year-over-year. Also, total radio ad revenues showed improvement over Q2 numbers.
Additionally, Off-Air revenue posted a 14% gain, for its fourth consecutive quarter of double-digit growth..
Year-to-date through September changes for Spot and Network were identical to their Q3 showings
�As radio broadcasters continue their focus on reaching consumers and enhancing advertiser ROI through broadcast, digital platforms and new off-air opportunities, advertisers are recognizing that the best way to communicate with consumers and build brands has evolved far beyond simply running a spot schedule on-air,� said RAB President and CEO Erica Farber. �On-air personality involvements, events, station websites and other digital options continue to generate support, use and results among major brand marketers as well as local businesses.�
There were upticks from Health Care (+4%), Professional Services (+5%), and Insurance Companies (+1%); these industries also showed increases in year-to-date spending - up 6%, 6% and 7% respectively.
Additionally, there was upward momentum from categories in the next tier that helped improve radio''s bottom line this quarter, many of which reflect the impact of increased consumer optimism and spending in the housing, travel and personal entertainment areas. These are (in rank order based on dollar volume):
�Advertisers that count on radio to help raise funds, fill seats, fill jobs and depend on results from their investments," said Farber.
Read the full report online.