RAB Report: Radio's Q2 '14 Revenue Performance Down 3%
August 15, 2014 Untitled Document
Radio's Q2 '14 revenue performance was moderate, down 3% from the same period last year based on diminished Spot activity. Spot declined 5%, tempering respective gains of 13% and 9% from the Off-Air and Digital sectors and flat Network spending. Q2 represents the third consecutive quarter in which Radio has seen double-digit growth in Off-Air revenue
First-Half results were flat (-1% overall) as double-digit increases in Off-Air (+15%) and Digital (+12%) helped offset 3% dips in both Spot and Network.
"Based on pacing and industry insights, we anticipated a relatively flat to down Q2," stated Erica Farber, RAB's President and CEO. "While we don't forecast, a greater percentage of Radio's total annual revenue historically comes through in the second half, and we're anticipating that we'll see better results by the end of this year."
"Among Radio's top 10 advertisers, the standouts are operating in industries where there's intensified competition for top market share. As they spend to solidify their positions or introduce new products, these brands include Radio as a key component of their advertising, tapping Radio's ability to motivate consumers to action," stated Farber.