The commercial radio recovery vehicle is well and truely in motion as revenue rises 5.4 per cent since this time last year. Official figures, released today by RadioCentre, show sponsorship and promotions gain the biggest growth during the last quarter, increasing 8 per cent.
Total revenue figures for the Q3 period have risen to £148,975,023, with national revenue for the quarter seeing a very favourable increase of 7.7 per cent year on year. Local revenue for the quarter fell back slightly to £39,436,798 down 0.7 per cent.
Andrew Harrison, chief executive of RadioCentre said: “These revenue figures are another set of impressive results. 2007 really has been a turning point for the Commercial Radio industry – not only have we seen a record number of people tuning in but advertisers are really recognising the power of radio advertising.”
Simon Redican, managing director of the Radio Advertising Bureau: “On the back of another good set of RAJAR results in Q3, a successful RAB conference last month and indeed a number of wins for our members at the recent Media Week awards, our industry is in great shape as we head towards the final quarter of the year.”