The Southern California Broadcasters Association (SCBA) announced strong, across-the-board ad revenue market gains for February. According to the Miller Kaplan Arase February 2014 Market Summary Report for all reporting LA Radio stations, total market revenue grew by 3.7% for the month. On a YTD basis through February, the LA total market revenue growth is 3.1%.
“This substantial market growth reflects the dynamic power of Southern California Radio and our member Radio stations’ determination to begin 2014 on very strong footing, “said SCBA President Thom Callahan.
The Miller Kaplan Arase report also cites continued growth in digital revenue for the reporting stations in February at 16.8% and a YTD growth rate of 14.7%. The subsequent X-Ray report YTD also reveals substantial new business growth with 336 new advertisers spending $12.7 million. Key category drivers include: Insurance – Up 141.7%, Cellular/Communications – Up 45.8%, Concerts/Theatre/Movies – Up 34.7%, Casinos/Lottery – Up 32.5%, and Education – Up 32.3%.
“The Auto category reflects a growth rate of 6.4% YTD and convincingly reverses the trend from Q4 of 2013,” said Callahan. “Radio and its digital platforms remain a key strategic partner for Southern California car dealers and associations that are driving market share, brand awareness, and sales using Radio,” said Callahan.
“Now, with two strong revenue reporting months in a row, Southern California Radio is well on its way to a solid first quarter with real momentum and a full pipeline of new business to come,” said Callahan. “February was a decisive revenue growth month with the perfect trifecta of Local, National, and Digital all coming together for a very positive month for our region.