The Southern California Broadcasters Association (SCBA) announced the Miller Kaplan Arase Market Summary report for January 2014 reflects a solid start to 2014. According to Miller Kaplan Arase, total market revenue for Los Angeles Radio grew by 1.7% in January. “This summary report reflects solid, steady revenue growth that sets the stage for a strong first quarter for Southern California Radio,” said SCBA President Thom Callahan.
“The 1.7% growth rate for January is, of course, good news for our industry here in Southern California, however, a closer look at what made up that growth reveals a market and region that is healthy and growing,” said Callahan.
The Miller Kaplan Arase X-Ray report for Los Angeles Radio further describes both strong category growth and exceptional new business development in the first month of the New Year. That growth includes: Insurance Companies – Up 152.1%, Education – Up 61.5%, Concerts/Theatre/Movies – Up 54.6%, Communications/Cellular/Public Utilities – Up 22.7%, and both the Auto category – Up at 6.3% and Health Care – Up at 6.4%.
“New business development was a significant revenue driver for Southern California Radio in January and showcases how new advertisers are rediscovering Radio and its effectiveness in building brands and market share for their business,” said Callahan. “With 297 new advertisers spending $7,408,878 in new business in January alone, it’s clear our SCBA member stations are fully engaged in new business development,” said Callahan.