Q1 RECORD REVENUE GROWTH SHOWS BROAD SIGNS OF STRENGTH AS KEY ADVERTISER SECTORS SPEND MORE IN RADIO
NATIONAL SPOT & DIGITAL SPENDING REGISTER HIGHEST GAINS
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New York, New York – May 21, 2010 – Reflecting growing signs that the U.S. economy is back, Radio delivers its best results in quarter-to-quarter revenue comps since Q1 2007 with a +6% overall increase to $3.687B. In fact, this gain represents the highest posted in nearly a decade (3rd-Quarter 2000, +8).
The Eastern Region outpaced the rest of the nation in ad spending gains for Q1, up 12.7% - followed by the Southwest and Central Regions, up 9.7% and 6.7%, respectively. Spending is up but trails nationwide growth in the West (4.5%) and South (3.5%).
"Our growth in this recovery is showing signs that Radio's momentum is outpacing that of other traditional media," says RAB President and CEO Jeff Haley. "This gain underscores Radio’s inherent strength with advertisers demonstrating renewed enthusiasm for spending in our medium."
"Spending levels in important Radio categories such as Automotive, Communications, TV/Cable, Financial Services, Grocery, and Retail are all up significantly from what we saw a year ago," states Haley. "First quarter's results prove that advertisers have found and, in many instances, rediscovered Radio. With ever-expanding Digital and Off-Air vehicles adding to Radio’s appeal to advertisers and marketers, this growth trend will continue to gain momentum."
Communications/Cellular/Public Utilities, which held the top spot for spending in the first three quarters of 2009 (#2 in Q4 against a spending surge in Automotive), regains that position in Q1 '10 at $350.5M – an increase of 6% over Q1 '09.
*Local, National, Digital and Off-Air revenues are based on a pool of more than 100 markets as reported by the accounting firm of Miller, Kaplan, Arase & Co. and extrapolated to the entire
The Radio Advertising Bureau serves more than 6,000 member Radio stations in the
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