Commercial radio took £645.8 million in ad revenue in 2016 – its highest ever figure.
Boosted by increased investment in the medium by online retailers, revenue increased by 5.4% year-on-year, outperforming the total 2016 advertising industry growth estimate of 4.4% from the Advertising Association/WARC.
While the motor industry, retail, entertainment and leisure, finance and government remain the biggest sectors for radio advertising, online retailers increased their spend by 90% in 2016 – almost doubling from £6.5 million in 2015 to £12.4 million in 2016.
The fourth quarter of 2016 was also the biggest on record with advertisers, growing 7.7% to £181.1 million, beating the previous record fourth quarter of £168.4 million in 2003.
“These figures show that commercial radio is in great shape,” said Siobhan Kenny, CEO of Radiocentre, the industry body for radio.
“Advertisers continue to value the reach, effectiveness and impact of radio and are making the most of its ability to reach far and wide.”
