NYMRAD Issues Q4 2015 State of the Market Report
|RADIO ONLINE | Friday, February 19, 2016|
New York Market Radio Association (NYMRAD) has released its fourth quarter 2015 State of the New York Market Report. Radio in the New York market experienced a 3% increase in total spot revenue in Q4. Grand total revenues were up 5% for the quarter led by growth within the communications, health care, food and beverage categories.
While automotive continues to lead the way among product categories, wireless carriers increased their spending by 10% for the full year 2015 and public utilities by 22%. Virtually every category was represented among the over 200 new advertisers to New York Radio in 2015. Each new advertiser spent at least $25,000 with 26 investing over $300,000 within the calendar year.
The research has also offered great proof that Radio has the greatest rate of return. Compared to every other advertising medium, every $1.00 devoted to Radio advertising can generate up to $17 of revenue per listener exposed to the message. Department stores ($17) saw the largest payback followed by mass merchandisers, ($16.37), home improvement ($9.48), and quick-service restaurants ($3.01).
Senior ad buyers see Radio as a key part of the advertising budget. 5.2% of all advertising budgets was spent on Radio in 2015. The rate is expected to remain unchanged in 2016. Virtually all (90%) of the New York metropolitan area listens to Radio. The average listener is tuned in for over 9 hours a week. The most popular formats include Hot AC (11.1%) and CHR (8.6%).
The NYMRAD State of the Market Report provides specific business trends as well as local information from a variety of sources including Nielsen Audio, Miller Kaplan Arase, Labor Statistics for the New York City Region, Crain's New York, Borrell Associates and more.