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Despite the economy, Radio revenues grew 2% in Q3: new RAB report
"Seven consecutive quarters of growth" is the headline of the just-issued quarterly RAB Revenue Report. RAB President/CEO Jeff Haley says "the positive growth we've seen over the 21-month period is unprecedented since the late 1990s." He says the third quarter demonstrates "radio's strength during these unusual economic times." The numbers compiled by Miller Kaplan show these topline results:- Radio's spot revenue was flat at $3,665,000.
- Network dollars grew 2% to $282 million.
- Digital revenue kept up its double digit growth rate, up 17% to $190 million.
- Off-air (non-traditional revenue events such as station concerts) rose 10% to $390 million.
- The "grand total" for July-August-September is $4,527,000,000, or a 2% gain. That is roughly the same pace as the year-to date, with the only difference by category being stronger growth this time in Off-air. Year to date, radio revenue is at roughly $12.9 billion. Read the detailed Radio Advertising Bureau report here.
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