Commercial radio continues to perform strongly with revenue increasing by 6% year on year during the third quarter of 2004 to more than £158.7 million, following heavy investment from telecoms, motor and retail brands.
The latest figures from the Radio Advertising Bureau maintain the upward growth for commercial radio, which continues to lead the way out of the downturn with national advertisers ploughing more than £90 million in to the medium in the third quarter.
Revenue for the twelve months to October reached a record high of almost £633 million, representing an increase of 8.6% year on year. This included double digital growth from sponsorship and promotions, which now accounts for 15.2% of total radio revenue.
Commenting on the figures, Lynne Springett, marketplace & PR manager at the RAB, said, “We are pleased to report yet another all time high for commercial radio revenue over the last year, maintaining its long-term upward trend. Many advertisers are already taking advantage of radio’s proven ability to increase awareness and drive sales, and we’re looking forward to seeing more of them utilising its strengths as the brand conversation medium.”
Expenditure data from Nielsen Media Research shows that advertisers from the telecoms, motor, retail and finance sectors all invested heavily in radio during the third quarter. The biggest spending category was motors, with revenue rising by 16.1% year on year as brands such as Vauxhall, Renault and Ford made increasing use of the medium for branding campaigns.
Related Links
