Radio delivered its sixth consecutive quarterly uptrend with a 1% increase to $4.581B in Q2. First Half was up 2%, to $8.364B. Results for the quarter were buoyed by Digital (+18%), Off-Air (+5%) and Network (+3%), as was performance for the half: Digital (+19%), Off-Air (+7%) and Network (+2%).
Growth in Radio’s sectors for First Half 2011 was through key Automotive, Television/Network/ Cable Providers and Retail categories. Advertisers within the second tier categories – Insurance Companies, Financial and Beverages – bolstered Radio’s revenue with significant increases for the quarter and first six months of 2011:
|Q2 2011||First Half 2011|
|Insurance Companies||$187M (+29%)||$399M (+23%)|
|Financial||$296M (+11%)||$567M (+4%)|
|Beverages||$297M (+10%)||$430M (+14%)|
“It’s clear that the diversified revenue mix radio broadcasters have created is paying off in a static spot environment,” states Jeff Haley, RAB‘s President and CEO.
“Contrary to what you might think regarding recent market woes, many of the nation’s largest marketers are forecasting increases in media expenditures through the end of 2011. Companies like P&G, AT&T and Coca-Cola have all reported upcoming campaign support for various products and Fiat is reintroducing its vehicles to the U.S. ““ all which could mean more revenue for Radio. This should inspire us to dig in to capitalize on these opportunities to strengthen our bottom line as we close out 2011.”
Radio’s top five Radio revenue categories (based on Spot spending) for Second Quarter 2011 are:
|Auto Dealers/Dealer Groups/Manufacturers||$330M|
“These categories continue to maintain a major presence within Radio. Commitment from these categories proves Radio’s important role within the marketing plan and its ability to influence and drive purchaser behavior,” stated Haley.
Comcast Cable takes the lead among Spot Radio advertisers for Q2 2011: