Revenue up for commercial radio
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.