Radio’s Off-Air Posts 3rd Consecutive Quarter of Double-Digit Gains
Spot Slows Down in Second Quarter
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New York, New York - August 15, 2014 - Radio's Q2 '14 revenue performance was moderate, down 3% from the same period last year based on diminished Spot activity. Spot declined 5%, tempering respective gains of 13% and 9% from the Off-Air and Digital sectors and flat Network spending. Q2 represents the third consecutive quarter in which Radio has seen double-digit growth in Off-Air revenue
First-Half results were flat (-1% overall) as double-digit increases in Off-Air (+15%) and Digital (+12%) helped offset 3% dips in both Spot and Network.
"Based on pacing and industry insights, we anticipated a relatively flat to down Q2," stated Erica Farber, RAB's President and CEO. "While we don't forecast, a greater percentage of Radio's total annual revenue historically comes through in the second half, and we're anticipating that we'll see better results by the end of this year."
"Among Radio's top 10 advertisers, the standouts are operating in industries where there's intensified competition for top market share. As they spend to solidify their positions or introduce new products, these brands include Radio as a key component of their advertising, tapping Radio's ability to motivate consumers to action," stated Farber.
Q2's "Top 10" list represents the high-volume Spot spenders who consistently maintain a majority share of voice on Radio's airwaves:
Growth Categories in Q2
While many of Radio’s top categories saw slightly diminished Spot spending in Q2, two registered smallincreases. These were (in rank order based on dollar volume):
Taking up some of the slack from the top ten Radio revenue categories, there were many positive stories fromnext tier categories, including (in rank order based on dollar volume):
"To broaden our overview of the industry, beginning with this release, we will include snapshots of several additional categories that have contributed to Radio’s bottom line during the quarter," Farber added.
*Spot Radio, Digital and Off-Air revenues are based on a pool of more than 100 markets as reported by the accounting firm of Miller Kaplan Arase LLP and extrapolated to the entire U.S. Digital Revenue is comprised from activity generated by websites, Internet/web streaming and HD Radio including HD2 and HD3 stations. Network Revenue includes seven major Radio network companies. Revenue data has been randomly verified since 2002.
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