Radio advertising grows for a second year in a row
Some would assume that digital advertising would kill the Radiostar. However, Radiocentre’s latest research shows otherwise.
Radiocentre report that advertisers spent £679.2m on radio in 2017, which is a 5.2 per cent growth from 2016. This is a record spend for two years in a row. The Advertising Association predicted that radio adverts would grow 4.7 per cent, underestimating advertisers’ use of radio as a channel.
Radiocentre’s other findings include:
– 12 of the top 20 advertisers spend more than 20 per cent of their total adverting budget on radio
– Half of these 12 increased their spend by 40 per cent in radio advertising. Tesco is a company that have invested more in radio campaigns
– Sky remains the UK’s biggest radio advertiser
– The motor industry continues to be a large sector for radio advertising
– Fast food is a growing sector for radio adverts; McDonalds, KFC and Dominos have increased spend
CEO of Radiocentre said ‘Commercial radio is currently enjoying really positive momentum in terms of both audiences and ad revenues.’
Why are advertisers using radio? Click here to read WhyRadio’s ten reasons for advertisers to use radio as a channel.
To continue this positive momentum, Radiocentre have launched a campaign to portray the power of radio to advertisers. Campaign reported that ‘The & Partnership London’ have been ‘tasked with developing a campaign which encourages everyone involved in media decisions to see radio differently’.
As quoted by Campaign, Lucy Barrett (Client Director at Radiocentre) stated ‘Radio is thriving but we want to remind advertisers about the fantastic brand-building qualities the medium can offer.’