The radio industry booked $720 million in digital revenue for the first three quarters of 2014, a 12% increase over the same period last year, according to figures released today by the Radio Advertising Bureau (RAB). Offline revenue rose by 14% to $1.3 billion, though core spot business declined 3% to just over $10 billion.
“Advertisers are recognizing that the best way to communicate with consumers and build brands has evolved far beyond simply running a spot schedule on-air,” said RAB President and CEO Erica Farber. “On-air personality involvements, events, station websites, and other digital options continue to generate support among major brand marketers, as well as local businesses.”
Top-tier verticals for radio use such as healthcare, professional services, and insurance picked up spending by between 6-7%. The medium also saw big increases in spending from traditionally smaller advertisers such as postal and delivery services (+59%), transportation (+32%), oil and gas (+31%), and recruitment/employment (+29%).
Farber noted that radio continues to thrive due to its ability to motivate listener’s to action, an aspect of the medium that connects with immediate digital response methods.
