Radio has come a long way since the days of The Shadow and The Lone Ranger, and it’s coming back strong, observes Grumpy Editor.
BIA/Kelsey’s 2017 Investing in Radio report indicates radio will surpass newspapers and become the fifth-largest media category among advertisers by 2021.
The report adds that nearly a century after radio stations began accepting commercials, the medium now takes about 10 percent of all local ad revenue and its fastest growing segment is on digital platforms.
BIA/Kelsey notes radio stations digital advertising income was up 14 percent last year, along with a slight increase in over-the-air income that continues to grab the biggest chunk of about $14.1 billion.
“In an age where consumers have many entertainment choices, local radio maintains its strength and popularity in the marketplace among national and local advertisers,” says Mark Fratrik, senior vice president and chief economist at BIA/Kelsey.
The report projects radio revenue reaching $14.9 billion this year, topping $16 billion by 2021.
The news-talk category shows the most improvement for 2016.
Highest earning local radio station last year: WTOP, Washington, D.C. with $67.5 million in ad revenue.
Direct mail remains the most lucrative segment of local ad spending.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
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Gear up for National Pet Day April 11, get a
goodie for your dog, cat --- or turtle.