According to research released jointly by the Radio Advertising Bureau and advertising research firm Borrell Associates, radio stations’ digital revenues are poised to surge 22% this year, growing to a record $753 million.
The report shows that last year the average radio station generated between $49,159 and $602,783 in digital advertising sales, depending on market size. It also showed that among the more than 800 clusters, the average market cluster surveyed broke the million-dollar mark in digital sales for the first time, reaching $1.1 million.
Among other findings, says the report, in 2016:
Gordon Borrell, CEO of Borrell Associates, says “… seeing a lot more optimism from radio managers this year… twice as many (say) they’re planning for growth of 20% to 50% in 2017… “
Erica Farber, President and CEO, RAB, follows noting that “… starting to see great momentum with digital in both small and large markets… offerings beyond their core broadcast business are seeing revenue benefits… RAB is focused on providing digital training… for members…”
For more information from Borrell and RAB, please visit here.