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Sep 8, 2008 by Mark Maier"Off-Air revenue (previously referred to as Non-Spot) has surpassed last year's mid-year forecast by the Radio Advertising Bureau (RAB) , and is expected to approach $2B by the end of 2008 - nearly a full year ahead of the predicted timeline."
That's big news for the stations that have made digital initiatives part of their profit centers.
"Jeff Haley, President and Chief Executive Officer of RAB, says "... The industry's investment in new technology and digital distribution channels has extended Radio to the Internet, mobile phones, navigation systems, and more... the result is a 360-degree experience for consumers... with multiple touch point opportunities for advertisers."
While sectors like Automotive, Financial Services, and Home Furnishings are challenges to maintain revenues in this economic climate, several sectors are showing great growth:
|
Radio's Combined Local and National Leading Growth Categories (2008 vs. 2007) |
|
Category |
Q2 '08 (millions) |
Q2 '07
(millions) |
% Change |
1st Half '08 (millions) |
1st Half '07 (millions) |
% Change |
|
Insurance Companies |
$231.8 |
$198.4 |
17% |
$421.8 |
$346.8 |
22% |
|
Dept/Disc. Stores/Shop. Ctrs. |
$159.0 |
$142.4 |
12% |
$283.2 |
$256.9 |
10% |
|
Professional Services |
$84.6 |
$76.2 |
10% |
$264.6 |
$223.6 |
18% |
|
Source: Miller, Kaplan, Arase & Co.:X-Ray Markets |
The Center for Media Research Brief says as an industry, 9% of revenue is nowing coming in as "Off-Air Revenue. What does it contribute at your stations? What are you waiting for?
To read the complete report click here
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