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News
Radio could get a nice chunk of an auto sector ad blitz
Wells Fargo analyst Marci Ryvicker believes TV, followed by radio, will see a boost in ad spending from the auto industry. Before the recession and the auto industry meltdown, radio used to get about 15% of its revenue from the auto sector. That dropped to only about 9%, but says Ryvicker, “we believe there is still room for potential upside.” Ryvicker says the recent Toyota ad blitz due to more car acceleration issues will likely be extended past April 5. Couple that with other automakers piggy-backing on the Toyota ads, and GM bringing more dealerships back, and the potential is there for increased revenue. Read more from TVB here.
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