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Network radio revenue grew 9 percent in the third quarter, followed by non-spot radio, with a 7 percent increase in revenue. Year-to-date, non-spot radio gained 10 percent over the same time period last year, while network radio grew 5 percent.
According to TNS Media Intelligence Report data, network radio was driven by heavy investment from retail and automotive, writes the Radio Advertising Bureau. Total retail grew 42 percent in Q3 and nearly 21 percent year-to-date. Automotive increased 70 percent in Q3 and 42 percent year-to-date.
“Major advertisers that continued or increased their investment in Radio represent some of the leading brands in the U.S.,” says Jeff Haley, president and CEO of the Radio Advertising Bureau.
Two key advertiser categories that showed up strong in earlier quarters continue to outpace total radio spending in Q3. Communications saw a 16.8 percent spending gain through three quarters of 2007 versus the same period in 2006.
Concerts/Theaters/Movies posted a gain of 20.7 percent for the first three quarters of 2007 over the same period in 2006.
In terms of goverment advertising, according to Miller Kaplan there are definitely some leaders in radio both in Q3 2007 and year-to-date 2007. In the presidential race, Mitt Romney leads in local market spending, followed by Barack Obama, then Rudy Giuliani, and Hillary Clinton. Interestingly, according to TNS reports, Giuliani is the only presidential candidate thus far to also use network radio.
Network radio spending is also high within Government, Politics & Organizations, as reported by TNS, with a 44 percent increase in Q3 2007 and 16.8 percent increase year-to-date. The greatest year-to-date increase came from the fourth largest advertiser within this category, the U.S. Army, at 301.7 percent. The largest network radio advertiser, the U. S. Navy, was up 19.9 percent, followed by National Highway Safety (up 75.5 percent), and the Office of National Drug Control Policy (up 71.5 percent).
About the results: Local and national revenues are based on a pool of approximately 150 markets as reported by the accounting firm of Miller, Kaplan, Arase & Co. and extrapolated to the entire U.S. Network Revenue includes the top five Radio network companies. Non-Spot data has been collected and verified since January of 2002, and reported since September of 2004.
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