Live Events Are a Bright Spot for Radio Revenue

Screen Shot 2015-02-23 at 9.40.21 PMAn interesting report released by the Radio Advertising Bureau yesterday found that non-traditional revenue from live, off-air events now accounts for one of every ten dollars spent on radio. Live event related business even brought in twice the dollars digital billed last year.

This is exciting news for groups like Altitude which has always seen events as core to our reaching consumers locally.

Erica Farber, the president of the Radio Advertising Bureau told Inside Radio that advertisers see radio as a great way to bring live events to local audiences:

“With radio being closest to purchase, it makes sense that advertisers would look at those stations as a connection to a marketplace,” she says. “It’s a large undertaking to do these kind of events and do them well, but the stations that are focusing on it are finding its very successful. It gets back to no one does promotions better than radio.”

The report also found that AT&T stayed radio’s top advertiser for a second consecutive year, increasing its budget by 3%. And Comcast remained in second place, with with T-Mobile, McDonald’s and Verizon Wireless rounded out the top five spenders.

Finally, automotive was radio’s top ad category again in 2014, despite a 2% drop in total spending. Budget increases by Fiat Chrysler and the Chevrolet Dealers Association led to the growth.

This report underscores something that’s been clear for some time: local consumers are best reached by using multiple platforms and tactics. Live events are integral to that.