Local and national revenues enjoyed a combined 5% gain during the 3rd quarter of 2010, according to the latest results from the Radio Advertising Board and Miller Kaplan Arase and Co. That matches the gain year-to-date. When other revenue sources are figured in, Q3 totals were still at 5%, and the YTD gain improves to 6%.
“Radio has generated steady momentum throughout 2010,” commented RAB President and CEO Jeff Haley. “Advertisers in Radio’s top five reporting categories are up 19% collectively year to date through September – $770M over 2009 comps.”
Haley added, “Advertisers who understand the importance of reaching consumers in their local communities have continually increased their use of Radio this year, with Automotive, Financial, and Department Store marketers most notably promoting Radio’s economic growth.”
During Q3, local was up 3% to $2.97B, and national was up 10% to $700M for a combined 5% increase. Network was up 4% to $271M, digital was up 23% to $163M and off-air was up 5% to $355M. The earnings grand total was $4.459B.
YTD, local is up 3% to $8.464B, national is up 14% to $1.97B, network is up 3% to $805M, digital is up 22% to $443M and off-air is up 2% to $1.016B.
The biggest advertising category is communications/cellular, up 6% to $380.6M during the quarter. Automotive was a big factor in the surge, up 19% to $365.9M; and financial services was a huge factor, up 32% to $335.5M. TV/network/cable advertisers improved by 18%, grocery and convenience by 6%, retail categories were up 34% and professional services gained 25%.
RBR-TVBR observation: Nothing like historically easy comps to provide easy access to the black inkwell. We would suggest that the improvement taking place now is gentle enough that the radio business should be able to continue a string of successful quarters throughout 2011, if the economy provides any help at all.