A surge in fmcg adspend pushed radio advertising revenues up 6.3% year-on-year in the third quarter, according to the Radio Advertising Bureau.
The medium attracted £149.5 million ($258.0m; €214.7m) in advertising during Q3 as the likes of Procter & Gamble and Lever Fabergé hiked their outlay. Michael O'Brien, RAB director of marketing operations, observed that consumer goods firms had "doubled their investment over the last twelve months."
Radio is performing well compared with other media: its Q3 ad growth compares favourably with a 4.3% decline in display press advertising over the same period and a rise in TV spend of just 1.1%.
Continued O'Brien: "The very strong performance by commercial radio in these results demonstrates that as the advertising industry gradually pulls out of the slowdown, advertisers are increasingly turning to radio ahead of other media."
Both local and national radio stations saw a strong climb in third-quarter advertising. The former posted record revenues of £42.9m, while the latter achieved growth of 6.4%.
Data sourced from: BrandRepublic (UK); additional content by WARC staff