Jul 2019 RadioWorks Blog
The UK advertising industry, and in particular radio, can hold its head up high with the latest performance figures published by the Advertising Association and WARC.
Despite businesses exercising caution in the current climate of economic and political uncertainty, ad spend has grown to £6bn in the first quarter of 2019 and had a 4.2 per cent increase in spending year-on-year. Online radio has been the standout player, with a 26.5 percent growth in ad spend from the same period last year.
This is a remarkable increase for online radio, especially when seen in isolation, but its success is little surprise when considering the investment that has been made to adapt the business for a digital environment. With this shift online comes additional data-led targeting opportunities, which enables broadcasters to deliver advertising more keenly catered to individual listeners.
“As the radio business evolves to stay ahead in the digital era, it’s no surprise we are seeing growth in radio’s online advertising revenues, as the medium develops an ever-richer offering to advertisers” says Siobhan Kenny, chief executive of Radiocentre.
Looking at the bigger picture these results adhere to an ongoing trend, that this is the twenty-third consecutive quarter of growth for the advertising industry. With this impressive performance, the UK continues to demonstrate how it is Europe’s leading online advertising marketplace.
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