The New York Market Radio (NYMRAD) “State Of The Market” report for the final two quarters of 2016 is now complete, and Gotham’s AM and FM radio stations enjoyed a healthy six months.
What’s the key takeaway for radio executives?
There were 80 advertisers new to New York’s radio stations in the second half of 2016. Additionally, close to 200 advertisers more than doubled their market ad spend.
NYMRAD also reports that 15 product categories were up by double digits in the period from July-December 2016. The two most significant category drivers were the Grocery and Department Store categories, both of which grew by over 40%.
NYMRAD broke out activity by category. Using Miller Kaplan data, it says advertisements in the Education category decreased by 9% in the second half of 2016, compared to the same period in 2015. Some 54 advertisers collectively spent $4,217,000 in 2H 2016.
But, there’s a silver lining for New York radio, with growth in the Online Education subcategory. In fact, the largest online education advertiser more than doubled its expenditures to $312,000.
Two of the largest Education advertisers are On Line Training Academy and Mercy College.
Meanwhile, ad spending in the Entertainment category, which is inclusive of sports and arts and cultural events, grew 2.7% from the second half of 2015, with 78 category advertisers spending $13,025,000. The growth was evenly spread between concerts, movies, and Broadway, Miller Kaplan data show.
The top advertiser in the entertainment industry in New York is Live Nation.
In the Hospitality category, 48 advertisers collectively spent $5,239,000, accounting for an increase of 18.5% over the second half of 2015. Competition among cruise lines pushed the Cruises subcategory up 74%, as three major cruise lines combined to spend over $1 million.
Advertising by Tourist Bureaus also increased, primarily from the Caribbean.
The top three cruise line advertisers are Royal Caribbean Cruises, Celebrity Cruises, and Norwegian Cruise Lines.
