Commercial Radio Increases Offering To Advertisers
Commercial radio is leading the way out of the advertising downturn and is continuing to increase its delivery of core audiences to advertisers, according to the Radio Advertising Bureau.
The latest RAJAR listening data for the first quarter of 2004 reveals year on year growth in both hours and weekly reach amongst a number of key advertising categories including 15 to 24 year-olds, ABC1 adults, Housewives and Housewives with Children.
The RAB claims this reflects commercial radio’s lead out of the advertising downturn and its continued ability to attract increased investment from major advertisers. The industry saw adspend rise by 6.8% last year to £601 million and further investment is expected from major FMCG brands (see Double Digit Growth Helps Radio Out Of Downturn).
The three months to March also saw a marked increase in the time spent listening to commercial radio, with hours up in both period on period and year on year analysis. Listening reached record levels amongst the lucrative 15 to 24 year-old audience, as well as amongst ABC1s and Housewives (see RAJAR Results Q1 2004: National Commercial Still Rising).
Commenting on the figures, Peter Cory, media planning director at the RAB, said: “We are pleased to report that Commercial Radio not only continues to attract more listeners from key advertising demographics, but that those listeners are also tuning in for longer. This is great news for advertisers with many more leading brands turning to radio as it continues to lead the way out of the slowdown.”
Forecasts from PricewaterhouseCoopers suggest that radio adspend will grow by around 2.8% this year in Europe. It is expected that growth will be driven by the medium’s rise as an efficient and cost-effective way of building brand awareness.
RAB: 020 7306 2500 www.rab.co.uk
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