Good News For Radio. Revenue Grows in October
According to the latest Standard Media Index, Radio ad bookings increased more than 9% in October to almost $50 million. This compares favourably to other media.
|Radio increased more than 9% to almost $50 million|
Magazines fell 12% to $24 million
|Outdoor media performed well with a 7% rise to $66 million.|
|Newspaper bookings fell by nearly 13% to $70 Million|
|Digital largely driven by social media climbed 2.4% to around $121 million|
|TV dropped 5% to $353 million.|
Total ad bookings were $694 million for the month, a drop of 3.2% on the same month last year. To put it into perspective, for October Radio accounted for 7.2%, Magazines 3.5%, Outdoor 9.5%, Newspapers 10.1%, Digital 17.4% and TV just over 50% of the ad revenue market.
Newspapers and magazines clearly are being impacted the most by digital media.
Radio has always has been well ahead of Magazines, is just behind Outdoor and with the continuing decline of the Newspaper market, Radio could overtake it soon.
SMI – Standard Media Index provides expenditure data directly from the leading global media buying firms across 15 global markets. You can find out more about their services at Standard Media Index