Traditional radio advertising revenues were down a little for 2014 according to a report from the Radio Advertising Bureau. Digital and off-air revenues, however, jumped allowing for a relatively flat –1% for the industry as a whole.
The report noted the same pattern for the fourth quarter for 2014.
The exact numbers were a 3% decline, total of $13.6 billion, for spot advertising in 2014 and a 4% decline in network advertising, totaling a bit over $1 billion for the year. Digital revenues rose by 9% to more than $970 million while off-air shot up 16% to over $1.8 billion. The total haul for the industry came in at a little over $17.5 billion.
RAB President and CEO Erica Farber said, “Radio held its own in 2014 with radio revenue remaining steady despite an economic climate which saw some businesses tightening their spending in Q4 due to reduced consumer confidence.”
She added, noting increases in digital revenue growth throughout the year and year-over-year: “Digital revenue growth indicates that radio is meeting marketers’ growing commitment to reach consumers via all digital ad channels, and this continued growth confirms radio’s position as a true marketing partner.”
The report also notes the top 10 advertisers and spot categories (in order).
Top 10 Advertisers:
Comcast Xfinity Cable Services
Toyota Dealer Association
Top 10 Categories:
Auto Dealers/Dealer Groups/Manufacturers/Rentals
The full report is available here.