The growing optimism about a recovery in commercial radio has received another boost with RadioCentre revealing that national ad revenue is up by 3.4% for the second quarter of the year. National revenue for the quarter has risen to over £85m.
The industry body has also reported that local revenue has grown by 1.2% over the quarter to over £40m although sponsorship and promotion revenue has dipped to under £24m. The body says the figures show the industry is “well on its way” to recovery.
Simon Redican (pictured), RadioCentre managing director, says: “We have already stated our optimism publicly but it always good to get confirmation. Radio is the multiplier of the digital age and advertising are recognising the important role it is play as part of the media mix.”
RadioCentre has also announced that it will roll out its Advertising Effectiveness Tracker, which aims to show the value of advertising on radio.
The results come on the back of strong figures for commercial radio listening in the Rajar figures for the second quarter of 2007. Its share of listening increased by 4%, adding 1.3 million listeners compared to the same period last year.