Credit crunch hits commercial radio

Commercial Radio revenue dropped by over 10% between April and June, compared to last year.
However, figures released by the RAB this week for Quarter 2 2008 show sponsorship and promotions increased 7.3% year on year to over £25 million.

Simon Redican, managing director of the RAB said: "We always knew this would be a tough quarter for all media, as recent results from ITV and the newspaper sector have shown.
"Fortunately for radio, we're well placed to bounce back."
Andrew Harrison, chief executive of RadioCentre said: "we are always the first to feel the effects because of the flexibility in how radio is booked.
"As a medium, radio is well placed to get through an economic slowdown without getting too badly hit."
The RAB is running new advertisements across commercial radio, highlighting the benefits of using radio in an economic downturn. The adverts feature actor and comedian David Schneider.

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