The world’s largest radio group, Clear Channel, yesterday reported third quarter radio revenues up by 11% to $964 million, representing a strong indication that US radio advertising is on the rebound.
US radio has been looking stronger and stronger in recent weeks and Q4 is expected to post double-digit growth, according to analysts at Merrill Lynch (see
Forecasts); Clear Channel’s figures yesterday reinforce this outlook.
The company’s outdoor businesses saw revenues increase by 12% in Q3, with recovery starting to emerge in the US business. The international outdoor markets, on the other hand, are ‘sluggish’, according to the statement. Clear Channel owns UK outdoor contractor, Clear Channel International, formerly More Group.
