Radio on the Rebound: Revenues Rally – Sort of – in Q3

 

On the heels of the positive radio listener numbers we talked about recently (get those details here) comes some not terrible advertising revenue numbers.

The Radio Advertising Bureau (via AdWeek) is reporting local and national radio advertising revenue fell 19 percent to $3.4 billion.  That may not sound good, but it’s an improvement over the 25 percent drop during Q2.  Year-to-date, revenue is down 23 percent to $9.7 billion.

By segment, network revenue was down 11 percent, off-air was down 9 percent, and digital was up 14 percent.

Jeff Haley, president and CEO of the RAB said:

As the quarter came to a close, it showed promise of an upswing in advertising spend by marketers. Increases in highly competitive categories continue to positively influence radio’s bottom line.

Here’s hoping that carries into a better Q4, and a strong 2010!