What ad recession, asks the UK’s commercial radio industry?
According to figures released this week by the Radio Advertising Bureau, the commercial radio sector has recorded its third successive quarter of growth although adspend for the year to date is still down by 1.9% – negligible nonetheless in comparison to the battering taken by TV.
Driven by a surge in sponsorship and promotional deals, total Q3 revenues are up year-on-year by 17.6%. These two sectors now generate £70 million ($111.12m; €109.94m) in revenues - a 12.5% share of radio's annual £556.9m advertising income.
Says RAB director of marketing operations Michael O’Brien: “Significant new investment from a number of national and global brands has helped commercial radio to a third consecutive quarter of year-on-year growth. Furthermore, advertiser interest in the power of sponsorship and promotions to connect with their consumers continues to grow.”
Data sourced from: MediaGuardian.co.uk; additional content by WARC staff