According to the Radio Advertising Bureau’s most recent report, radio’s first quarter was flat at $3.5 billion. The year started out slow, but improvement to spot advertising helped add momentum to the strong performance of digital (+ 9%) and off-air (+5%). See here for the report.
Spot spending by communication/cellular advertisers increased 36% for the quarter, making it number one for the period, with the top 10 overall advertisers including five companies in the category. Also up were financial services (+13%), department/discount stores and shopping centers (+58%) and home furnishings/floor coverings (+6%).
While dollar volume was essentially flat for television/networks/cable providers (-3%) and restaurants (-2%), these were the number two and number four spots; automotive declined 20% to number three.
“Major increases in radio advertising by communications/cellular and financial services went a long way to offset a drop in automotive spending,” said RAB President and CEO Erica Farber. “Additionally, spending is up in the department/discount stores category — reflecting increased confidence among retailers who have experienced radio’s ability to drive traffic and sales.”
Radio’s “Top 10” Q1 advertisers represent TV, communications companies, insurance, grocery stores and car dealers.
- 1. Comcast XFinity Cable Service
- 2. AT&T
- 3. McDonald’s
- 4. Sprint
- 5. GIECO
- 6. T-Mobile
- 7. Safeway
- 8. MetroPCS
- 9. Toyota Dealer Association
- 10. Verizon Wireless