Consistent with Q1 and first-half performance, Radio posted moderate 1% growth through the first three quarters of 2012, reports the RAB. Digital spending was up 7% for the period, followed by a 2% gain in Off-Air. Spot was flat. Third quarter revenue remained flat but Digital continues to represent a bright spot – up 8%. “While on-air advertising represents the core of Radio’s revenue stream, it’s most encouraging that advertisers are taking advantage of expanding digital opportunities offered by stations,” says RAB President and CEO Erica Farber. “More marketers are tapping into the multi-platform aspects of Radio to reach our active and highly engaged audiences. These expanding platforms afford Radio broadcasters additional avenues to bolster Radio’s growth.”
Growth in spending by domestic and import autos, national grocery, clothing and big box retailers helped fuel revenue for the quarter. "Radio's Q3 and year to date results reflect the American economic picture," says Farber. "Categories that are rebounding based on renewed consumer confidence have made Radio a greater part of their marketing plans." Radio also received an influx of dollars based on hotly contested political races – up six-fold over 2011's Q3 pre-primary race spending. Decreased third quarter activity by some of radio's key categories, such as Communications/Cellular, Financial Services, Insurance Companies and Restaurants led to flat comparisons.
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