Despite losing market share in the latest set of audience results, figures released today by the RadioCentre show that radio advertising revenue is increasing.
Commercial radio revenue increased to nearly £159 million in the first quarter of 2008, an increase of nearly 7 per cent year on year.
National revenue showed the strongest growth with a 9.4 per cent increase year on year.
Said Andrew Harrison, chief executive of RadioCentre: “This is great news for our sector and these revenues show that there is an increasing understanding of radio’s role in the digital age – including its effectiveness when used alongside online advertising.”
“As these excellent results show, although we are aware that uncertainties in the economy will be a challenge for all media, we are confident that radio is well positioned to withstand a downturn.”
Commercial Radio sector has now seen four successive quarters of growth and a 5% revenue increase over the last 12 months.