Radio revenue was up 6 percent in third quarter to $4.4 billion, according to figures released Friday (Nov. 19) by the Radio Advertising Bureau. While national was strong, up a healthy 10 percent in the quarter, local growth was slower at 3 percent. Combined, local and national were up 5 percent to $3.7 billion.
The biggest growth segment for radio continues to be digital, up 23 percent. But it’s still a small percentage of the total at $163 million for the quarter.
Network radio grew 4 percent to $271 million. Off-air revenue was up 5 percent to $355 million.
For the first three quarters of the year, radio revenue is up 6 percent to $12.7 billion.
Categories driving radio’s growth include communications/cellular, auto, financial services, TV and cable, grocery/convenience/liquor stores, department and discount stores and professional services.
“Advertisers in radio’s top five reporting categories are up 19 percent collectively year to date through September, $770 million over 2009 comps,” said Jeff Haley, president and CEO of the RAB.
The RAB’s figures are based on data compiled by Miller, Kaplan, Arase & Co.