Experts have been predicting radio revenues would essentially be flat for 2014 and a new report from the Radio Advertising Bureau backs up that premise.
Third quarter total radio ad revenues are off 2%, compared to –3% from the same period a year ago, according to the RAB’s figures released this morning from Miller Kaplan research.
Digital revenue in Q3 grew 11% over last year and off-air revenue posted a 14% gain.
Year-to-date through September changes for spot and network were identical to their Q3 showing at –3% and –4% respectively.
The grand total — overall spot revenue is down about 1%.
“The increasing strength of radio’s digital platforms becomes more evident every quarter as advertisers recognize the unparalleled benefits of reaching radio’s dedicated audiences on every device and platform they are using,” says RAB President/CEO Erica Farber. “In addition, the growth in off-air opportunities for advertisers is a clear indication that radio is focused on continuing to deliver more innovative solutions to help them reach their consumers.”
See the full report here.