Commercial radio revenue figures for the second quarter of 2007 have grown to over £85 million, according to RadioCentre, the industry body for UK commercial radio.
In a statement released today, RadioCentre said local revenue for the quarter grew year on year by 1.2% to over 40 million and sponsorship & promotions revenue dipped slightly down to 24 million, adding that overall, the figures are showing strong signs that the industry is well on its way to a recovery.
Simon Redican, managing director of the Radio Advertising Bureau (RAB), said: “The results are extremely encouraging. We have already stated our optimism publicly but it is always good to get confirmation. Radio is the multiplier of the digital age and advertisers are recognising the important role it is playing as part of the media mix.”
The RAB also announced today that in the coming months it will be rolling out the advertising effectiveness tracker, designed to demonstrate to advertisers the value of their investment in the radio medium.
Redican added: “This will provide major advertisers with confidence in the medium’s ability to build value for their brands.”
RadioCentre said that the entry of Global Radio (see Charles Allen Heads Chrysalis Radio Buyout) and Channel 4 into the market should also further build momentum for the commercial radio industry.
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