The Radio Advertising Bureau has released Radio revenue numbers for Q2 and the first half of 2009. Radio’s poor numbers so far this year have been linked to marketers from the struggling auto industry and major retailers who have been impacted by the decreasing consumer confidence.
However, there are some positive signs emerging that may mean the economy is improving. Some advertisers are moving to radio for the first time, while others are increasing their radio spend, indicating that the double-digit negative numbers Radio has been seeing for several quarters may start to improve. Categories showing positive signs include Restaurants, Communications and Automotive.
On the digital side, the revenue Radio see from digital platforms continues to rise. Digital revenue was up 9% for Q2 2009 versus Q2 2008, and is up 10% on the year. Digital revenue includes revenue generated by Web sites, Internet/web streaming and HD Radio.
So as we start to hear about some positive signs for the economy overall, maybe we’ll start to hear equally positive things for the ad industry. In fact, Jeff Haley, President and CEO of RAB said in this report “we are most likely past the Q1 low point for Radio revenues and are now on the rebound.” Which is definitely good news.
Read the RAB press release, including some detail on specific categories, here.
Wednesday, Aug 26, 2009
Michelle OBrien