Profits are up for the third quarter in a row across the commercial radio sector, according to figures released today by industry body RadioCentre. Figures for the Q4 period reveal an increase year on year to 7.1 per cent with total revenue for the period reaching £150, 949,721.
Andrew Harrison, chief executive of RadioCentre said: "This is the third consecutive quarter of revenue growth for the Commercial Radio industry and the first full year of growth since 2004 – this really is good news for our industry. Despite reports that the traditional media sector is facing challenging times, these figures confirm that our sector is bouncing back as advertisers recognise radio's valuable role in a multi-media schedule."
Said Simon Redican, managing director of the Radio Advertising Bureau, “These figures are another set of impressive results for our sector. Commercial Radio reaches over 30 million listeners a week – advertisers can’t ignore that reach and it’s a great place for them to get their messages out to the great British public – today’s figures reinforce that.”
Redican added, “Over the last year, the RAB has stepped up activity and we are starting to see the results. We restructured the team as part of a drive to ensure greater customer focus – appointing strategy consultants to each of the major agency groups, giving agencies a single point of contact and focusing on providing bespoke support to clients. Underpinning this is RadioGauge, a research initiative which gives radio supporters a measure of both communication and creative effectiveness.”
The RAB has also released “The Sound of Success” which features the best radio case studies from 2007 including Autoglass, Halifax, Maltesers, Nandos, Vodafone, Intel and 3.