March 2004 Radio Revenues
Radio rebounded with double-digit revenue gains in March as combined total local and national ad sales figures jumped 10% over the same month a year ago.Indicators point to this positive growth trend continuing into second quarter and picking up momentum as the year rolls out.
Local dollars continued to retain the lead in March, growing 11% over March of 2003.National revenue saw an increase of 5% for the month when compared to March of last year.
On a year-to-date basis, Radio revenues for 1st Quarter 2004 also reflected a healthy recovery.Combined total local and national revenue for 1st Quarter of this year rose 4% over the same time period in 2003.Local sales figures for 1st Quarter grew 5% over 1st Quarter of last year.National business experienced a 1% increase for this year’s 1st Quarter over 1st Quarter of 2003.
“We are seeing the beginning of Radio’s recovery with the March revenue results,” said Gary Fries, President and Chief Executive Officer, RAB.“Advertisers are starting to place buys earlier in the cycle, which will help boost the national business, and local continues its forward momentum.Radio is well positioned for accelerated growth as the year unfolds.”
These monthly totals are based on the RAB Radio Revenue Index of more than 150 markets.The accounting firm of Miller, Kaplan, Arase & Co. provides the local and national revenue data on the more than 150 markets RAB uses to calculate its Revenue Index.