Radio Ad Revenue Down 24% in Q1, Digital Up 13%
Local ad revenues fell 26% in the first quarter to $2.35 billion over 2008 totals. National revenue was down 27% to $473 million. When combined, local and national sales declined 26% to $2.83 billion, reports the RAB. Network radio was down 13% to $238 million and off-air revenue decreased 12% to $264 million. Digital revenue was the only gainer, rising 13% to $101 million. Grand total revenue was down a total of 24% to $3.43.
"Radio's digital platforms are experiencing the greatest growth and are reflective of the dollar shift from media to marketing by many of today's advertisers," said RAB President/CEO Jeff Haley. "As consumer and technological sophistication increases, advertisers will continue to support those platforms that appeal to their customers' increased on-demand behaviors -- and radio is primed for it."
"In today's economy, consumers are looking to make every dollar count," added Haley. "It's interesting to note that many advertisers who are tied-in to price and value are making use of radio -- an economic yet effective vehicle to transmit their messages out to the buying public. As the economy begins to turn up, we should have numerous advertisers who've confirmed their trust in radio as we've helped their businesses survive --
