Radio revenue was up in the recent quarter — not a phrase we’ve heard much of late.
According to the Radio Advertising Bureau, U.S. commercial radio had its first quarter-to-quarter bump in three years, increasing 6% compared to a year ago. The gains were led by a 19% jump in national radio revenue and 18% in website money, while the big local revenue sector increased 2%. Overall radio revenue for the quarter was estimated at $3.68 billion (an annualized pace of $14.7 billion).
The 6% gain was the highest since the third quarter of 2000.
RAB said the numbers reflect “growing signs that the U.S. economy is back.”
“Our growth in this recovery is showing signs that radio’s momentum is outpacing that of other traditional media,” stated RAB President/CEO Jeff Haley.
RAB said the eastern region led the way in ad spending gains for Q1.